AGINCOURT non-executive director Ian Middlemas has made $5.6 million from the sale of 3 million Agincourt shares on the Australian Stock Exchange.
The shares were held through his company Arredo Holdings.
With the share sale completed, Mr Middlemas holds 2.2 million shares in Agincourt, worth $4.1 million. Mr Middlemas was one of several Agincourt directors who took advantage of an option scheme in July.
He picked up one million shares at the 25-cent option exercise price.
Besides Mr Middlemas, Agincourt executive directors Roy Arthur, Peter Bowler and Tim Sugden each bought 616,000 shares at the 25 cent-a-share price. They then onsold those shares at the then prevailing market price of $1.60.
Agincourt managing director Tim Sugden disposed of the most shares, selling 550,000.
In another major directors’ interest move, IMF managing director Hugh McLernon made $1 million from the sale of 1.25 million IMF shares.
Those sales were spread over the period August 9 to August 13.
At the same time he bought 3.6 million shares at $720,000 through the exercise of 20-cent options.
