Glencore director takes advantage of company buybacks, sells shares

29th Dec 2014 15:17

William Macaulay, independent non-executive director at Glencore, sold 801,251 shares in the company at an individual price of 300.33p.Macaulay, who joined the trading and mining outfit in 2011, pocketed £2.4m in the transaction and was left holding a total of 128,185,371 shares in the group.The shares were sold through ECP Galaxy Holdings, an affiliate of FR Galaxy Holdings, to whom the businessman is connected.Glencore announced last week that it was putting in motion the next phase of its share buyback plan, worth up to £120m, which was to be completed by 24 March of next year.Earlier in the month, the company had been mulling over whether to continue with the buyback, having launched the £600m programme last August.Top Director BuysGem Diamonds Ltd. (DI) (GEMD) Director name: Mr Gavin BeeversAmount purchased: 14,800 @ 169.00p Value: £25,012Merchants Trust (MRCH) Director name: Ms Sybella StanleyAmount purchased: 3,114 @ 475.50p Value: £14,807Top Director SellsGlencore (GLEN) Director name: Mr William MacaulayAmount sold: 801,251 @ 300.33p Value: £2,406,397Athelney Trust (ATY) Director name: Mr David HornerAmount sold: 20,000 @ 200.00p Value: £40,000