16/06/2009 - 17:56

Andrew Forrest gifts $10m in shares

16/06/2009 - 17:56

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Fortescue Metals Group chief executive Andrew Forrest has gifted nearly $10 million worth of shares to various recipients.

Fortescue Metals Group chief executive Andrew Forrest has gifted nearly $10 million worth of shares to various recipients.

In a notice to the Australian Securities Exchange, Mr Forrest gifted 2.665 million shares to "various transferees" in an off-market trade.

At today's closing price of $3.66, the share gift was valued at $9.75 million.

Following the transaction, Mr Forrest held 973 million Fortescue shares or 31.5 per cent of the company.

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