19/12/2007 - 22:00

Directors’ Interests

19/12/2007 - 22:00

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VDM Group Ltd executive director Stuart Cuthbert has decreased his indirect interest in the company - held by Redmont Resources Pty Ltd - through the on-market sale of 1 million shares valued at $2.7 million. He now owns 4 million shares worth $11 million on the announcement day share price. Mineral Resources Ltd non-executive chairman Michael Kiernan has decreased his interests in the company by a further 300,000 shares at $1.6 million. The transaction follows a $1.2 million shares sell-off late November when the scrip came out of escrow. He now holds 200,000 shares in the company, valued at $1.1 million on the announcement day share price. In the same week, Mr Kiernan sold his entire remaining stake in Precious Metals Australia Ltd, 52,564 shares worth just under $100,000. Mr Kiernan is the non-executive chairman of Precious Metals. Mr Kiernan increased his interest in India Resources Ltd, where he is executive chairman, through the on-market acquisition of 1 million shares at $160,528. He now holds 6 million shares in the company worth $564,000 on the announcement day share price. Mr Kiernan also purchased 500,000 shares in Monarch Gold Mining Company Ltd, where he is a director, at $118,891. He now holds 43 million shares in the company valued at $10 million on the announcement day share price.

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