Mermaid Marine founder and executive director Jim Carver has cashed in part of his holding in the offshore marine services group, selling 1.75 million shares at $2.40 each on-market to realise $4.2 million on June 2. Nonetheless, Mr Carver remains one of the company’s biggest individual shareholders with more than 4.38 million shares worth over $10 million at current prices around $2.40. Mr Carver, who was Woodside Petroleum’s first ships master, established Mermaid in 1982 and grew its fleet fifteen-fold and established its key supply base at Dampier.
United Overseas Australia chairman Chong Soon Kong and executive director Pak Lim Kong have utilised the locally listed Malaysian property developer’s dividend reinvestment program, investing $9.31 million for 35.27 million shares and $6.99 million for 26.54 shares respectively.