08/03/2016 - 15:16

Wesfarmers directors sell $12m in shares

08/03/2016 - 15:16

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Wesfarmers managing director Richard Goyder, finance director Terry Bowen and non-executive director James Graham have sold a combined $12.1 million worth of shares, predominantly for tax purposes.

Wesfarmers managing director Richard Goyder has sold $6.67 million worth of shares in the business.

Wesfarmers managing director Richard Goyder, finance director Terry Bowen and non-executive director James P Graham have sold a combined $12.1 million worth of shares, predominantly for tax purposes.

According to a change of director’s notice posted on the ASX today, Mr Goyder disposed of 165,724 ordinary shares in Wesfarmers at $40.29 each, netting $6.67 million.

The notice said the on-market trade was predominantly to raise funds to meet tax liability associated with shares allocated as part of Mr Goyder’s long-term incentive plan, as per his remuneration package.

The same reasoning was given for Mr Bowen’s sell-down of 112,141 ordinary shares on Friday for $39.90 each, equal to $4.47 million.

Mr Graham also sold $957,556 worth of shares on Friday.

At Wesfarmers’ closing price of $40.86, Mr Goyder’s shareholding in the company is worth $32.5 million.

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