17/04/2014 - 15:58

Ellison, Atkinson in big share sales

17/04/2014 - 15:58

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Ellison, Atkinson in big share sales
Mineral Resources managing director Chris Ellison. Photo: Attila Csaszar.

Mineral Resources director Chris Ellison and TFS Corporation director Stephen Atkinson have sold shares in their respective companies worth a combined $28.2 million.

Mr Ellison, who is one of Perth’s wealthiest company directors, has sold 2 million shares on-market for proceeds of $22.6 million.

He retains 25.1 million shares in the diversified contracting and mining company, worth $294 million at today’s closing price of $11.74 per share.

He previously sold $41 million of MinRes shares in 2012 and $70 million in two transactions in 2010.

Meanwhile, TFS said Mr Atkinson has disposed of $5.6 million worth of shares in the sandalwood producer following a big run-up in its share price this year.

Mr Atkinson has disposed of 3.7 million shares worth $5.6 million through a combination of on- and off-market transfers.

He retains an interest in 3.8 million shares.

The company’s chief executive Frank Wilson bought 1 million shares worth $1.52 million from his fellow director.

That lifted his total holding to 45.8 million shares, worth $69.6 million.

The company’s share price jumped from less than $1.10 in mid-February to a high of nearly $1.90 in early March.

The share spike followed settlement of new institutional investment in sandalwood projects and promising results from clinical studies into new uses for sandalwood oil.

TFS also signed a new supply agreement in February with a global pharmaceutical company.

Its shares closed today at $1.645.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

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