Anglo CEO sells £0.4m of shares to cover tax payment

Anglo American's boss offloaded nearly £0.4m-worth of shares in the mining group on Monday, the company said.

Some 67,475 shares in Anglo, representing part of a bonus award granted to Mark Cutifani upon his appointment to the board, vested last week.

Cutifani, who has been chief executive since April 2013, then sold 31,714 of the shares at a price of 1,222p each to meet an income tax and national insurance contribution liability. The £387,545 transaction took place in London.

The executive kept the remaining 35,761 shares in the company.

Meanwhile, a non-executive director at Severn Trent bought his first shares in the group on Monday since joining the board on May last year. John Coghlan acquired 400 shares for an individual price of €20.29 each, spending €8,116 in the transaction.

Top Director Buys

Severn Trent (SVT)
Director name: Mr John Coghlan
Amount bought: 400 @ €20.29
Value: €8,116

Top Director Sells

Anglo American (AAL)
Director name: Mr Mark Cutifani
Amount sold: 31,714 @ 1,222.00p
Value: £387,545