Glencore boss uses divi to top up stake

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.

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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 Buys

Glencore International (GLEN)

Director name: Mr Ivan Glasenberg

Amount purchased: 2,900,000 @ 344.30p

Value: £9,984,700

North Atlantic Smaller Companies Inv Trust (NAS)

Director name: Mr Christopher H B Mills

Amount purchased: 15,000 @ 926.66p

Value: £138,999

Great Portland Estates (GPOR)

Director name: Mr Nick Sanderson

Amount purchased: 21,000 @ 384.60p

Value: £80,766

Mecom Group (MEC)

Director name: Mr Tom Toumazis

Amount purchased: 32,894 @ 76.00p

Value: £24,999

Paragon Diamonds (PRG)

Director name: Mr Simon Retter

Amount purchased: 94,341 @ 21.20p

Value: £20,000

Aberdeen Asian Income Fund Ltd. (AAIF)

Director name: Mr Charles Clarke

Amount purchased: 10,750 @ 183.80p

Value: £19,759

Telecity Group (TCY)

Director name: Mr Michael Tobin

Amount purchased: 2,000 @ 781.25p

Value: £15,625

Mecom Group (MEC)

Director name: Mr Gerald (Gerry) Aherne

Amount purchased: 20,000 @ 73.00p

Value: £14,600

Halfords Group (HFD)

Director name: Mr David Adams

Amount purchased: 6,000 @ 239.30p

Value: £14,358

Top Director Sells

Forum Energy (FEP)

Director name: Mr Andrew J. Mullins

Amount sold: 500,000 @ 200.00p

Value: £1,000,000

Forum Energy (FEP)

Director name: Mr Barry Stansfield

Amount sold: 200,000 @ 200.00p

Value: £400,000