Pavel Maslovskiy, chief executive of Petropavlovsk, is taking advantage of the near-record gold price to bank some cash with the sale of £24m worth of shares in the Russian gold miner.
Companies associated with Dr Maslovskiy sold 2m shares at £11.93 per share. The off-market sale was to a non-related party at the ten day volume weighted average price, the company said, and was for portfolio re-balancing and to provide funds for investments in non-mining related activities. His last significant disposals were in 2007 at prices of £10.90 and £12.12.
On Wednesday, Petropavlovsk, formerly known as Peter Hambro Mining, trimmed its preliminary estimate of gold production this year by about 6% to 470,000 ounces, down from its previous estimate of 500,000 ounces.
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Top Director Buys
Kirkland Lake Gold (KGI) Director name: Mr George A MiltonAmount purchased: 100,000 @ 530.39p Value: £530,390
Ingenious Media Active Capital (IMAC) Director name: Mr Patrick Anthony McKennaAmount purchased: 350,000 @ 44.00p Value: £154,000
Daily Mail and General Trust (DMGT) Director name: Mr D M M DuttonAmount purchased: 23,000 @ 408.60p Value: £93,978
Southern Cross Healthcare Group (SCHE) Director name: Mr Jamie BuchanAmount purchased: 44,460 @ 140.50p Value: £62,466
Chaucer Holdings (CHU) Director name: Mr Robert V DeutschAmount purchased: 121,250 @ 47.00p Value: £56,988
Gartmore Group (GRT) Director name: Mr David BarclayAmount purchased: 22,727 @ 220.00p Value: £49,999
Southern Cross Healthcare Group (SCHE) Director name: Mr Christopher FisherAmount purchased: 30,000 @ 140.50p Value: £42,150
Mwana Africa (MWA) Director name: Mr Oliver A G BaringAmount purchased: 285,500 @ 13.00p Value: £37,115
Forth Ports (FPT) Director name: Mr David H RichardsonAmount purchased: 3,000 @ 1,081.00p Value: £32,430
Southern Cross Healthcare Group (SCHE) Director name: Mr Richard MidmerAmount purchased: 21,171 @ 140.50p Value: £29,745
Top Director Sells
Petropavlovsk (POG) Director name: Mr Pavel MaslovskyAmount sold: 2,000,000 @ 1,193.00p Value: £23,860,000
DCC (DCC) Director name: Mr Fergal O'DwyerAmount sold: 100,000 @ € 18.50 Value: € 1,850,000
DCC (DCC) Director name: Mr Tommy BreenAmount sold: 100,000 @ € 18.50 Value: € 1,850,000
BP (BP.) Director name: Mr Byron E GroteAmount sold: 120,000 @ 584.52p Value: £701,424
Gartmore Group (GRT) Director name: Mr Jeffrey Meyer Amount sold: 434,699 @ 220.00p Value: £956,338
DCC (DCC) Director name: Mr Gerard WhyteAmount sold: 50,000 @ € 18.50 Value: € 925,000
Hikma Pharmaceuticals (HIK) Director name: Mr Mazen DarwazahAmount sold: 100,000 @ 515.00p Value: £515,000
DCC (DCC) Director name: Mr Donal MurphyAmount sold: 21,000 @ € 18.50 Value: € 388,500
RM Group (RM.) Director name: Mr Mike GreigAmount sold: 178,039 @ 161.35p Value: £287,266
Gartmore Group (GRT) Director name: Mr Keith Starling Amount sold: 71,962 @ 220.00p Value: £158,316
Inheritance tax bills exceed £500,000 for almost 10% of estates
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