Vedanta Deputy Executive Chairman trades in 50,000 shares

20th Sep 2013 08:22

Navin Agarwal, the Deputy Executive Chairman, of mining group Vedanta, on Thursday disposed of 50,000 shares, reducing his stake to 167.53m. The director sold the stock at 1,174p a time, earning himself £587,000. This week the company welcomed Tom Albanese, the former Chief Executive of Rio Tinto, on board as the Chairman of its subsidiary Vedanta Resources Holdings. Anil Agarwal, Chairman of Vedanta, said of the appointment: "I am excited to welcome Tom to our team and I look forward to him bringing his considerable experience and energy to Vedanta to support our twin aims of delivering sustainable growth and creating long-term value for our shareholders." Meanwhile, Bill Whiteley, the soon-to-depart Senior Independent Non-Executive Director of Renishaw, this week slimmed down his stake in the FTSE 250 metrology group. Whiteley, who last month announced his intention not to stand for re-election at the October annual general meeting, disposed of 2,075 shares, taking his holding to 4,690.In an announcement released late Thursday, it was revealed the director earned himself around £3.95m after selling each share for 190,445p. Renishaw's share price has made strong gains since releasing its full-year results at the end of July, when the group revealed an extensive new product pipeline, a strategy for each of its business segments, as well as several new product introductions. The results themselves revealed a decline in pre-tax profits, from £86.05m to £84.45m, after the cost of sales offset a 5% increase in revenue. Top Director BuysConygar Investment Company (CIC) Director name: Mr Preston Rabl Amount purchased: 250,000 @ 128.50p Value: £321,250Gulf Keystone Petroleum Ltd.(DI) (GKP) Director name: Mr John BellAmount purchased: 72,200 @ 201.00p Value: £145,122Avanti Communications Group (AVN) Director name: Mr F E John G BrackenburyAmount purchased: 35,000 @ 242.80p Value: £84,980Berkeley Group Holdings (The) (BKG) Director name: Ms Veronica WadleyAmount purchased: 1,500 @ 2,045.00p Value: £30,675Monks Inv Trust (MNKS) Director name: Mr Karl SternbergAmount purchased: 2,750 @ 387.07p Value: £10,644Top Director SellsGreene King (GNK) Director name: Mr Rooney AnandAmount sold: 75,576 @ 807.10p Value: £609,974UBM (UBM) Director name: Mr David LevinAmount sold: 81,988 @ 722.97p Value: £592,749Vedanta Resources (VED) Director name: Mr Navin AgarwalAmount sold: 50,000 @ 1,174.00p Value: £587,000NR