BC Iron managing director Mike Young has offloaded 300,000 shares in the Pilbara iron ore producer to raise $1.09 million. A notice lodged to the ASX last Thursday stated that the shares were sold on-market for the purposes of his personal financial commitments. Mr Young retains a stake of more than 661,000 shares in BC Iron currently worth $2.4 million.
Pura Vida Energy managing director Damon Neaves and technical director David Ormerod have each converted 275,000 partly paid shares to fully paid ordinary shares at a cost of 19 cents each. This is a 74 per cent discount on the African oil & gas explorer’s current market price of 73 cents per share. Mr Neaves now has a stake of 6.5 million shares in the company currently worth $4.7 million, while Mr Ormerod’s holding has increased to 5.2 million shares currently worth $3.8 million. Pura Vida was the most successful IPO of 2012 according to the WA Business News annual corporate finance survey, with a 265 per cent jump from its issue price of 20 cents on February 14 last year.