Cedar Woods Properties deputy chairman Robert Brown has sold 900,00 shares in the company to raise over $4.8 million. Mr Brown is a director of private companies Beach Corporation and Westland Group Holdings, the entities that sold the shares on-market last week. Beach Corporation offloaded just over $2.7 million worth of shares, while Westland Group sold $2.09 million in stock. Mr Brown retains a stake of 7.9 million shares in the property developer currently worth $43.7 million. Cedar Woods said the sale was part of an internal restructuring of Mr Brown’s assets.
Red Hill Iron executive chairman Neil Tomkinson has acquired more than 2 million shares at a cost of $1.6 million through Warramboo Holdings and Wythenshawe, in which he and non-executive director Joshua Pitt both have indirect interests. The shares were acquired through a take up of entitlements and an underwriting shortfall in a Red Hill entitlement issue. Non-executive director Garry Strong has also participated in the rights issue through the acquisition of 142,992 Red Hill shares. Mr Tomkinson now has a stake of 12.4 million shares in the West Pilbara iron ore explorer currently worth $10.1 million.
