Glencore boss strikes again, LSE boss sells

12th Jun 2012 15:16

Glencore International's Chief Executive Officer Ivan Glasenberg bought himself another chunk of shares in the mining titan, his third in the past week, it was announced on Tuesday. Since earning a whopping $110m in the latest dividend payout at the start of this month, the director has paid out just over £29.9m, with this latest purchase totalling £9.8m. Broker Jefferies commented that Glencore's planned merger with sector peer Xstrata has a high probability of being achieved on its original terms. Jefferies originally believed that Glencore would have to bump up its proposed merger ratio in order to win the approval of Xstrata shareholders. However, now the broker expects that the majority of shareholders who would oppose the merger will have sold their shares by the day of the vote, adding that Glencore's assets offer a lower risk than they previously did. The broker has maintained its buy ratings on both stocks, despite saying that it expects each stock to underperform the sector in the short term before the crucial shareholder vote. Xavier Rolet, the Chief Executive of the London Stock Exchange (LSE) has ditched £0.9million-worth of shares which he earned through the firm's long-term incentive plan. The deal was announced on the same day it was revealed the company is losing its chief financial officer, Doug Webb, as part of a wider management shake up. Webb joined the firm in 2008, but will step down from the board on July 2nd, and leave the firm on July 31st. He'll be replaced by David Warren, a recruit from US stock exchange NASDAQ where he has been for 11 years, two of which were spent as a senior adviser.Rolet said he believes Warren's international experience would be an asset to the group. Others being moved around the management chess board include Antoine Shagoury, who becomes Chief Operating Officer, and David Lester who gets the Director of Strategic Development brief. Top Director BuysGlencore International (GLEN) Director name: Mr Ivan GlasenbergAmount purchased: 2,700,000 @ 364.81p Value: £9,849,870G4S (GFS) Director name: Mr John ConnollyAmount purchased: 100,000 @ 278.60p Value: £278,600Ashmore Global Opportunities Ltd USD Shares (AGOU) Director name: Mr Jonathan AgnewAmount purchased: 15,000 @ $5.10 Value: $76,500Severfield-Rowen (SFR) Director name: Mr Tom HaugheyAmount purchased: 20,000 @ 147.15p Value: £29,430Weir Group (WEIR) Director name: Mr Keith RuddockAmount purchased: 2,000 @ 1,420.80p Value: £28,416Chesnara (CSN) Director name: Mr Ken RomneyAmount purchased: 9,000 @ 174.61p Value: £15,715Top Director SellsLondon Stock Exchange Group (LSE) Director name: Mr Xavier RoletAmount sold: 96,683 @ 975.00p Value: £942,659News Corp. 'A' Shares (NCRA) Director name: Mr Lachlan MurdochAmount sold: 17,000 @ $19.55 Value: $332,350Private Equity Investor (PEQ) Director name: Mr Charles Julian CazaletAmount sold: 29,632 @ 241.66p Value: £71,609Ashmore Global Opportunities Ltd GBP Shares (AGOL) Director name: Mr Jonathan AgnewAmount sold: 10,000 @ 532.50p Value: £53,250Private Equity Investor (PEQ) Director name: Mr Peter DicksAmount sold: 4,823 @ 241.66p Value: £11,655