Glencore boss uses divi to top up stake

7th Jun 2012 16:04

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 BuysGlencore International (GLEN) Director name: Mr Ivan GlasenbergAmount purchased: 2,900,000 @ 344.30p Value: £9,984,700North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 15,000 @ 926.66p Value: £138,999Great Portland Estates (GPOR) Director name: Mr Nick SandersonAmount purchased: 21,000 @ 384.60p Value: £80,766Mecom Group (MEC) Director name: Mr Tom ToumazisAmount purchased: 32,894 @ 76.00p Value: £24,999Paragon Diamonds (PRG) Director name: Mr Simon RetterAmount purchased: 94,341 @ 21.20p Value: £20,000Aberdeen Asian Income Fund Ltd. (AAIF) Director name: Mr Charles ClarkeAmount purchased: 10,750 @ 183.80p Value: £19,759Telecity Group (TCY) Director name: Mr Michael TobinAmount purchased: 2,000 @ 781.25p Value: £15,625Mecom Group (MEC) Director name: Mr Gerald (Gerry) AherneAmount purchased: 20,000 @ 73.00p Value: £14,600Halfords Group (HFD) Director name: Mr David AdamsAmount purchased: 6,000 @ 239.30p Value: £14,358Top Director SellsForum Energy (FEP) Director name: Mr Andrew J. MullinsAmount sold: 500,000 @ 200.00p Value: £1,000,000Forum Energy (FEP) Director name: Mr Barry StansfieldAmount sold: 200,000 @ 200.00p Value: £400,000