Minres boss nets $41m in sell down

Thewest

Minres boss nets $41m in sell down"


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The West Australian Mineral Resources executive director Chris Ellison has netted $41.4 million in a sell down of his holding in the contractor and mining group he co-founded. A change of


director's interest notice posted on the ASX this morning showed Mr Ellison had sold 3.4 million MinRes shares he indirectly owned worth $41.37 million on the market at an average price


of $12 per share. The sell down reduces his stake in the company to less than 15 per cent (27 million shares). Mr Ellison holds the majority of his stake in MinRes through Sandini Pty Ltd.


He also holds smaller stakes through Wabelo Pty Ltd and Ellison Superannuation Pty Ltd. Mr Ellison is one of WA's richest men with an estimated net worth of about $450 million. MinRes


shares were off four cents to $12.28 in a broadly weaker market. GET THE LATEST NEWS FROM THEWEST.COM.AU IN YOUR INBOX. Sign up for our emails


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