MinRes boss pockets $21m from share sales

Mineral Resources managing director Chris Ellison has sold down a small portion of his stake in the diversified Perth business, netting $21.6 million from the transaction.

Mr Ellison sold 1.77 million MinRes shares between January 11 and January 17 at an average price of $12.22 each, slightly above the company’s last closing price of $12.01.

He retains ownership of about 23.1 million shares in the company, which at $12.21 per share (MinRes’s share price at midday, the time of writing), is equal to about $281.6 million.

It is the largest trade Mr Ellison has made in MinRes stock for about two and a half years; between April and September 2014 he sold $31.6 million worth of shares.

He purchased about $1.3 million worth of MinRes shares in September 2015.