Bill Beament now has $56 million worth of Northern Star shares.

Beament sells $22m stake

Thursday, 21 March, 2019 - 09:53

Northern Star Resources executive chairman Bill Beament has sold about $22 million worth of shares in the gold miner, as part of a Family Court settlement.

According to a change of director’s interest notice issued to the ASX yesterday, Mr Beament will retain around 6.29 million shares, worth approximately $56 million, and 3 million performance rights.

In a statement, the company said the sale was part of a Family Court settlement.

This was the the third major share sale over 15 months by Mr Beament, who has overseen the growth of Northern Star into one of the state's largest gold miners. 

He sold 1 million shares on December 31, worth around $9.1 million.

On the same day, Rand Mining and Tribune Resources rejected Northern Star’s $150 million offer for their 49 per cent stake in the East Kundana joint venture.

Prior the $9.1 million sale, Mr Beament’s previous substantial transaction occurred in December 2017, when he sold 1 million shares worth approximately $5.94 million.