BHP Billiton chairman makes a purchase

published 31 August 2011

Chairman Jaques Nasser has bought 24,000 shares in mining giant BHP Billiton at just under 2,067p each in a purchase worth a total of nearly £500,000. Nasser, a Lebanese-born Australian, beat rival John Schubert to the job of chairman early last year, following four years as a non-executive director. He earned himself the nickname 'Jac the Knife' when working at US carmaker Ford because he cut so many jobs. In 2008 Nasser received the Ellis Island Medal of Honour for outstanding contributions to American society. Non-executive director Keither Rumble also purchased 2,300 shares in the company at 1972.00p each, bringing his total to 14,500 shares. The group, which became a dual-listed company after the merger between BHP and Billiton in 2001, recently decided to boost its final dividend by 22%. Revenue in the year to the end of June jumped 35.9% to $71.74bn from $52.80bn the year before. BHP Billiton said it remains positive on the longer term outlook for the global economy, despite a slow-down in growth in the second half of 2011. The group recently said that all conditions relating to its tender offer for Petrohawk Energy have been satisfied.The company received acceptances in respect of around 97.4% of the outstanding shares of Petrohawk for its $38.75 cash offer per share.Top Director BuysGlencore International (GLEN) Director name: Mr Li NingAmount purchased: 62,000 @ 384.73p Value: £238,533BHP Billiton (BLT) Director name: Mr Jacques NasserAmount purchased: 24,000 @ 2,066.88p Value: £496,051British Sky Broadcasting Group (BSY) Director name: Mr Jeremy DarrochAmount purchased: 66,011 @ 641.22p Value: £423,276British Sky Broadcasting Group (BSY) Director name: Mr Andrew GriffithAmount purchased: 30,440 @ 641.22p Value: £195,187F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 166,295 @ 65.41p Value: £108,774Creat Resources Holdings Ltd. (DI) (CRHL) Director name: Mr Phillip SimpsonAmount purchased: 2,950,000 @ 2.00p Value: £59,000Sirius Minerals (SXX) Director name: Mr Christopher N FraserAmount purchased: 500,000 @ 9.44p Value: £47,200BHP Billiton (BLT) Director name: Mr Keith RumbleAmount purchased: 2,300 @ 1,972.00p Value: £45,356Regus (RGU) Director name: Mr Douglas SutherlandAmount purchased: 50,000 @ 68.49p Value: £34,245