Former Home Building Society managing director Craig Coleman has decreased his direct and indirect interest in the company by selling 70,000 shares, valued at more than $1 million, through an on-market trade.
Former Home Building Society managing director Craig Coleman has decreased his direct and indirect interest in the company by selling 70,000 shares, valued at more than $1 million, through an on-market trade.
The current non-executive director stepped down from the managing director role in July last year, with StateWest Credit Society’s former head Greg Wall assuming the position of chief executive of the merged entity.
The merger between Home and StateWest Credit Society took place last June, with the company making an unsuccessful bid for Police and Nurses Credit Society Ltd later in the year.
Mr Coleman told WA Business News that the sale of his shareholding would fund the recent purchase of a holiday home in Eagle Bay, near Dunsborough.
He continues in his role as non-executive director of energy utility Synergy and is also chairman of specialist investment manager Attunga Capital Pty Ltd.
He was appointed executive chairman of Ausron Ltd in November last year, along with Andrew Moffat as executive director, with the company raising $1.7 million though a share placement the following month.
Mr Coleman was also appointed to Wyllie Group as senior adviser in July last year.
Meanwhile, West Perth-based Energy Investments Ltd non-executive director Shane Doherty has ceased to be a substantial shareholder in the company, having reduced his indirect interest by selling 31 million shares.
Mr Doherty received nearly $5 million from the on-market trade, and now holds less than six million shares in the company, valued at $1.1 million.
The trade is the second major transaction for Mr Doherty in the past month, having previously sold 33.1 million shares on December 20 in both on and off market trades, at a value of approximately $5 million.
Mr Doherty stepped down from his role as managing director of Energy Investments in October last year, during a spate of board changes.
The company also conducted $5.6 million capital raising to fund the expansion of its interests in the Cooper Basin in South Australia and development of its coal bed methane assets in Queensland.
He is currently chairman and director of oil and gas explorer Baraka Petroleum Ltd and was previously a director of Sydney Gas Ltd.
Perth-based Sundance Resources Ltd non-executive chairman George Jones has acquired 15 million shares in the company, at a value of $1.2 million, in the second tranche of a share placement following shareholder approval earlier in the month.
The company issued 166.7 million new shares, the bulk of which was designated to fund a pre-feasibility study and exploration activity on Sundance’s Mbalam iron ore project.
Mr Jones did not previously hold shares in the company, although he has 30 million options expiring in January 2012.
Managing director and chief executive Don Lewis and non-executive director John Saunders also acquired smaller allotments in the recent issue.
