Xstrata boss bags £8m profit on options

Oct 23, 2009

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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.

Earlier in the week, FinnCap said that it preferred Anglo American to Xstrata. This comment came after Xstrata said its operating and financial performance in the third quarter remained strong.

Top Director Buys

Shanta Gold (SHG) Director name: Mr Walton Imrie Amount purchased: 1,588,047 @ 4.00p

Value: £63,522

Home Retail Group (HOME) Director name: Mr Oliver Stocken Amount purchased: 11,500 @ 302.00p

Value: £34,730

Vitec Group (VTC) Director name: Mr Stephen Bird Amount purchased: 5,000 @ 370.00p

Value: £18,500

Home Retail Group (HOME) Director name: Mr John Coombe Amount purchased: 5,250 @ 302.00p

Value: £15,855

AG Barr (BAG) Director name: Mr Alex B C Short Amount purchased: 1,685 @ 800.00p

Value: £13,480

Shanta Gold (SHG) Director name: Mr Walter Vorwerk Amount purchased: 186,276 @ 6.40p

Value: £11,922

Home Retail Group (HOME) Director name: Mrs Penny Hughes Amount purchased: 3,750 @ 302.00p

Value: £11,325

Top Director Sells

Xstrata (XTA) Director name: Mr Michael Davis Amount sold: 1,000,000 @ 1,019.00p

Value: £10,190,000

Mattioli Woods (MTW) Director name: Mr Ian Thomas Mattioli Amount sold: 500,000 @ 238.00p

Value: £1,190,000

Mattioli Woods (MTW) Director name: Mr Robert Woods Amount sold: 500,000 @ 238.00p

Value: £1,190,000

Home Retail Group (HOME) Director name: Mr Terry Duddy Amount sold: 328,587 @ 302.30p

Value: £993,319

Home Retail Group (HOME) Director name: Mr Terry Duddy Amount sold: 296,999 @ 302.30p

Value: £897,828

Home Retail Group (HOME) Director name: Mr Richard Ashton Amount sold: 105,065 @ 302.30p

Value: £317,611

Home Retail Group (HOME) Director name: Mr Richard Ashton Amount sold: 94,966 @ 302.30p

Value: £287,082

Home Retail Group (HOME) Director name: Mr Terry Duddy Amount sold: 23,651 @ 299.60p

Value: £70,858

Home Retail Group (HOME) Director name: Mr Richard Ashton Amount sold: 11,520 @ 299.60p

Value: £34,514

Jarvis Securities (JIM) Director name: Mr M J Edmett Amount sold: 8,000 @ 195.00p

Value: £15,600

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