News

Xstrata boss digs deep

22 May 2008 16:27:00

Xstrata's chief executive Mick Davis has spent nearly £7m on shares in the diversified miner, the company said today.

He took 167,480 shares at 4,150p each and now has 1.8m shares in the company (including 1.39m that are deferred until next year or the following year).

News of the purchase, which was made yesterday, comes on the same day Goldman Sachs ramped up the Switzerland-based miner's target price to 4,880p from 3,905p after raising its copper, nickel and coal price forecasts.

Shares in Xstrata, which has strong exposure to all three commodities, have gained more than 50% in the past year, helped by soaring prices for the resources it mines.

They have also risen substantially since Davis sold 36,176 shares that had vested under a share plan at 3,470p each (a total of £1.25m) on 26 March.
Top Director Buys

Xstrata (XTA)
Director name: Mr Michael Davis
Amount purchased: 167,480 @ 4,150.50p
Value: £6,951,257

Bank of Ireland (BKIR)
Director name: Mr Richard Burrows
Amount purchased: 30,400 @ € 8.10
Value: € 246,240

SThree (STHR)
Director name: Mr Nadhim Zahawi
Amount purchased: 14,720 @ 201.00p
Value: £29,587

API Group (API)
Director name: Mr Richard Wright
Amount purchased: 126,409 @ 20.50p
Value: £25,914

Glasgow Inc.Tst (GLS)
Director name: Mr Matthew Andrew Griffiths
Amount purchased: 28,000 @ 69.30p
Value: £19,404

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