Central Asia Metals NXD sells 10 days before ex-divi date

Robert Cathery, a non-executive director of AIM miner Central Asia Metals sold £2.6m of shares at a price of 168.75p, a few days after the company put out its interim results and 10 days before the shares's ex-dividend date.

Having sold 1.5m shares held by himself, his wife and family trust, the three parties still held 2.1m shares, representing roughly 1.9% of the company.

At its interim results, Central Asia declared an interim dividend 5p per share, up 25% on the 2013 interim dividend. The dividend will be paid to shareholders registered on 10 October 2014, with Cathery making the sale on 30 September.

The company is not strapped for funds, with cash and cash equivalents of $29m as at 30 June 2014 together with $12.7m in trade receivables which were subsequently received in July 2014.

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