Fogarty sells $42m in GRD shares

The founder of Perth-based engineering and infrastructure company GRD Ltd, Brettney Fogarty, has sold a second large tranche of shares, netting $42 million.

This followed the sale last November of another large tranche of shares, which netted Mr Fogarty $31.8 million.

Mr Fogarty was GRD's chairman and chief executive until late last year, but continues to be a non-execurive director.

In today's transaction, he sold 20 million shares at $2.10 per share for gross proceeds of $42 million.

Last November he sold 17 million shares at $1.87 per share.

He continues to hold just over 20.5 million shares in the company, which owns engineering business GRD Minproc and infrastructure provider Global Renewables.