LONDON (SHARECAST) - Ivan Glasenberg, the Chief Executive Officer at Glencore International, has purchased 2.9m shares in the mining giant using part of the money he received from the firm's latest dividend payout.
Glasenberg, who now owns just over 15.8% of the company, bought the shares at 344.3p each, spending a total of just under £10m.
The firm has indicated that the up-take of shares is set to be the first of several to come, after the director earned just under a whopping $110m in the latest dividend payout on Friday 1st.
Glencore is currently in the process of a $30m takeover of sector peer Xstrata. Following the merger, which is due to be completed later this year, Glasenberg will own around 9.0% of the combined stock.
Forum Energy has announced that both Andrew Mullins, Executive Director, and Barry Stansfield, an Executive Director have each sold their entire stake in the company, ditching 500,000 and 200,000 shares respectively.
Mullins earned himself £1.0m, while Stansfield pocketed £0.4m, with both directors selling the shares at 200p a pop.
Both directors sold the shares to Asia Link, a wholly-owned subsidiary of First Pacific Company.
The company's share price has risen 257%, equivalent to 117p, over the past year.
Top Director Buys
Glencore International (GLEN)
Director name: Mr Ivan Glasenberg
Amount purchased: 2,900,000 @ 344.30p
Value: £9,984,700
North Atlantic Smaller Companies Inv Trust (NAS)
Director name: Mr Christopher H B Mills
Amount purchased: 15,000 @ 926.66p
Value: £138,999
Great Portland Estates (GPOR)
Director name: Mr Nick Sanderson
Amount purchased: 21,000 @ 384.60p
Value: £80,766
Mecom Group (MEC)
Director name: Mr Tom Toumazis
Amount purchased: 32,894 @ 76.00p
Value: £24,999
Paragon Diamonds (PRG)
Director name: Mr Simon Retter
Amount purchased: 94,341 @ 21.20p
Value: £20,000
Aberdeen Asian Income Fund Ltd. (AAIF)
Director name: Mr Charles Clarke
Amount purchased: 10,750 @ 183.80p
Value: £19,759
Telecity Group (TCY)
Director name: Mr Michael Tobin
Amount purchased: 2,000 @ 781.25p
Value: £15,625
Mecom Group (MEC)
Director name: Mr Gerald (Gerry) Aherne
Amount purchased: 20,000 @ 73.00p
Value: £14,600
Halfords Group (HFD)
Director name: Mr David Adams
Amount purchased: 6,000 @ 239.30p
Value: £14,358
Top Director Sells
Forum Energy (FEP)
Director name: Mr Andrew J. Mullins
Amount sold: 500,000 @ 200.00p
Value: £1,000,000
Forum Energy (FEP)
Director name: Mr Barry Stansfield
Amount sold: 200,000 @ 200.00p
Value: £400,000
LONDON (SHARECAST) - Ivan Glasenberg, the Chief Executive Officer at Glencore International, has purchased 2.9m shares in the mining giant using part of the money he received from the firm's latest dividend payout.
