Xstrata chief executive Mick Davis has sold 1m shares in the mining giant. Davis acquired these shares by exercising options - 877,955 shares at 217.32p a share and 122,045 at 239.11p a share. The total cost of these shares was £2.2m and they were sold for a profit of nearly £8m.
Davis retains 1.38m shares in Xstrata, equivalent to 0.05% of the company. He acquired 891,396 shares in the company's rights issue earlier this year. These shares were acquired for 210p each.
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
-
Tariffs 'were a terrible idea but shunning the US is a big mistake'Opinion Manufacturers and investors have pivoted away from the US, the world’s biggest economy. That’s a mistake, says Matthew Lynn
-
End of “fleecehold”: Will leasehold reforms bring an end to the UK's feudal system?Britain’s feudal system of property ownership is being overhauled. It's about time, says Simon Wilson
