McGay reduces holding in Mongolian explorer

A round-up of the biggest director deals today so far.

Chief executive Douglas McGay's shareholding in Mongolian oil explorer Petro Matad has reduced by 1.8m shares.

McGay has an interest in Investec Sino Corporation which sold 800,000 Petro Matad shares for 30p each, thereby raising £240,000. He has transferred his interest in Titoni Corporation, which owns 1m Petro Matad shares, so he is no longer deemed to own these shares. There is no indication what McGay received in return for transferring his interest in Titoni. McGay retains 3.95m shares in Petro Matad

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