WA directors in $21m of share trades

There has been a flurry of substantial share transactions by directors of Perth-based ASX-listed companies in recent weeks following the release of annual results, with David Singleton, Elizabeth Gaines and Rodney Leonard among those involved in the largest deals.

Austal managing director David Singleton received ordinary shares worth $4.98 million, following the vesting of 1.19 million performance shares on September 9.

The performance rights were approved in 2017, and over the past two years Austal’s share price has risen sharply from around $1.70 to $4.46 as of September 9.

Additionally on September 9, three of Galena Mining’s directors sold off large stakes in the company.

Galena Mining non-executive director Timothy Morrison sold 16 million shares worth $5.12 million, while non-executive director Jonathan Downes and non-executive chair Adrian Byass both sold 5.05 million shares at a value of $1.62 million each.

Lycopodium executive director Rodney Leonard offloaded the largest value of shares in recent weeks.

Mr Leonard sold 1 million shares on September 6 for $5.32 million.

Lycopodium managing director Peter De Leo also sold off shares in company, disposing of 200,000 shares on September 13 for a value of $1.06 million.

On September 6, Fortescue Metals Group told the ASX its chief executive Elizabeth Gaines had vested around 206,000 performance rights on August 30 into $1.65 million worth of ordinary shares.

Combined, the share transactions listed above have a value of $21.4 million.

Earlier this month, Peter Bradford, Peter Cook and John Welborn were among those involved in significant share transactions.

See the full details and more information here https://www.businessnews.com.au/directors-interests