Mermaid Marine Australia managing director Jeff Weber has picked up just over 1.4 million shares at $3.05 each, or $4.5 million in total, through the exercise of incentive options. The options were approved by shareholders at the company's annual meeting in November 2009. Mermaid Marine shares are currently trading at $3.95, giving Mr Weber an instant paper profit of 90 cents per share. The purchase comes after Mr Weber sold 750,000 shares in December last year, raising $2.4 million to fund the exercise of the incentive options and the associated tax liabilities. Mr Weber now has a stake of 2.6 million shares in the marine services provider currently worth $10.2 million.
Cash Converters International managing director Peter Cumins has sold 2 million shares worth $2.57 million in the company he and his brother, Brian Cumins, helped build. Mr Cumins retains a stake of 10.2 million shares in the second-hand goods retailer currently worth $13.5 million.
Iluka Resources managing director David Robb has acquired 121,951 shares in the company at no cost as part of a long-term incentive plan. Mr Robb has then disposed of 149,472 shares to raise $1.4 million. Mr Robb's stake in the mineral sands miner now stands at 713,339 shares currently worth $7.2 million.
