Bellevue Gold outgoing managing director Steve Parsons is understood to be selling half of his stake in the company in a block trade via Canaccord Genuity on Monday night.
The broker was seeking buyers for 17 million shares at $1.05 each, sources said, which was about a 5 per cent discount to the last close.The sale comes only hours after the $1.3 billion Bellevue Gold announced Parsons was stepping back to the non-executive director ranks, effective March 1.
“On behalf of the Board, I would like to thank Steve for the exceptional job he has done in turning our Company from what was not much more than a shell with a mothballed asset into Australia’s next major gold producer,” chairman Kevin Tomlinson said in a statement on Monday morning. Parsons had 34 million Bellevue Gold shares and 8.3 million performance rights as at August last year, according to the company’s most recent annual report.
co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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