OzAurum Resources (ASX:OZM) received notice that Chief Executive Andrew Ian Pumphrey cut his stake in the company to 21.97% Thursday, according to a same-day filing with the Australian bourse.
The CEO became the gold explorer's substantial shareholder on Aug 5, 2020, holding 43.1 million shares representing a 37.67% voting power, a separate filing showed.
Shares of the company fell nearly 7% in recent Friday trade.
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