Roberts picks up $30m in shares in ma­jor miner

Kalgoorlie Miner - - BUSINESS - Peter Wil­liams

Share­hold­ers who like their com­pany’s non-ex­ec­u­tive di­rec­tors to have skin in the game should have no cause for com­plaint with Tim Roberts.

The bil­lion­aire Mul­ti­plex heir splurged nearly $30 mil­lion last week on shares in iron ore and lithium miner Min­eral Re­sources.

A dec­la­ra­tion to the Aus­tralian Se­cu­ri­ties Ex­change yes­ter­day said Mr Roberts ac­quired the stake through an off-mar­ket trans­ac­tion on Novem­ber 28.

His pri­vate com­pany King­fisher Cap­i­tal paid an av­er­age $14.80 a share.

The pur­chase gives the son of the late Mul­ti­plex founder John Roberts a stake of about one per cent in Min­eral Re­sources.

Man­ag­ing di­rec­tor and fel­low rich lis­ter Chris El­li­son is the big­gest share-holder with an 11.6 per cent stake. Mr Roberts has been a non-ex­ec­u­tive di­rec­tor at MinRes for two years.

Un­til last week he held about $104,000 in shares.

The trans­ac­tion fol­lowed MinRes sew­ing up a $US1.15 bil­lion deal to sell a 50 per cent stake in the Wodg­ina lithium project to US chem­i­cals gi­ant Albe­marle.

The miner’s share price is down 30 per cent this year. The shares closed down 25¢, or 1.7 per cent, to $14.60 yes­ter­day.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.