Northern Star Resources managing director Bill Beament has boosted his stake in the company through the cashless exercise of 6.5 million options in a deal worth nearly $5.6 million. The exercise of the options, priced at 10 cents each, was facilitated by the company’s employee share trust. The trust allocated just over 5.8 million shares to Mr Beament after he exercised 6.5 million options, with the remaining 663,265 shares held as consideration. Mr Beament now holds more than 20 million shares in Northern Star, or a 4 per cent stake, worth $19.5 million.
IFS Construction Services executive chairman Billy Ong has acquired 363,810 shares on market at a cost of just over $12,000. This increases his stake in the formwork and scaffolding services business to 37.4 million shares currently worth $1.3 million. Mr Ong’s company, Millennium Scaffolding Systems, has launched a takeover offer for IFS, which has resulted in a boardroom tussle involving former managing director Scott Williams. This is the second time in a month Mr Ong has lifted his stake in IFS, having added 2 million IFS shares to his portfolio just three weeks ago.
