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.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Water companies blocked from using customer money to pay “undeserved” bonusesThe regulator has blocked three water companies from using billpayer money to pay £1.5 million in exec bonuses
-
Will the Bitcoin price hit $100,000?With Bitcoin prices trading just below $100,000, we explore whether the cryptocurrency can hit the milestone.
