The Chief Executive of BG Group, the FTSE 100 natural gas company, has offloaded more than £4.7m-worth of shares without an explanation, putting a serious dent in the share price.
Sir Frank Chapman sold 368,185 at 1,285p each, reducing his stake to just over 1.5m shares, equal to 0.0446% of the issued shares.
During the week the company announced its plans to sell its stake in gas-fired power generation plants in the Philippines for $360m and its 60.1% stake in Brazilian gas distributor Comgs for around $1.7bn.
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Speaking on Wednesday, the day the second sale was announced, Chapman said that, including the most recent sales, the company has so far released some $3.6bn from its balance sheet as part of its on-going plan to release $5bn of capital over the next two years.
The share price lost 55p in the past week, contributing to overall losses in May of 230p, equal to 15%.
Mark Harper, a Non-Executive Director of Renold, an industrial chain maker, has purchased £50,000-worth of shares in the firm in the same week that the company posted a return to the black following a boost to sales.
Harper bought the shares on behalf of a Mandy Harper, trading 74,626 shares at 33.50p on Tuesday, the day the results were announced, and 78,125 at 32.00p the following day.
However, it was by no means all good news as the company warned its double-digit growth seen in the last two years will be reduced by the current uncertainty in Europe.
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