Regis chair pockets $10m from share sale

Regis Resources chairman Mark Clark has sold half of his stake in the Perth-based gold miner, pocketing just under $10.5 million.

Mr Clark sold 2.5 million shares for $4.19 each, leaving him with about 2.4 million shares in the company.

“Mr Clark has held these shares for seven years since his purchases in 2008 and 2009,” Regis said in a statement.

“Over this time, Mr Clark has overseen the growth of Regis from an exploration company with a market capitalisation of around $100 million into a significant gold producer with a market capitalisation in excess of $2 billion.

“In addition, the strong performance of the business over this time has seen the declaration of 34 cents per share, or $170 million, in fully franked dividends.”

Mr Clark took on the role of executive chairman in November last year, after having served as managing director since 2009.

Regis shares were 3.3 per cent lower to $4.01 each at the close of trade.