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Sir John caps Anglo's fire sale

The outgoing chairman has completed his final divestment in the not-quite-so-diversified mining group
May 11, 2017

Shares in Anglo American (AAL) have risen 84 per cent base-to-apex within the past 12 months; a reflection of improved commodity pricing combined with cumulative rationalisation measures. Earlier this year, it was announced that the miner's chairman, Sir John Parker, had decided to call it a day after an eight-year tenure in which he oversaw the sale of numerous assets deemed surplus to requirements, the latest of which - an 88.2 per cent interest in the Drayton thermal coal mine in New South Wales - was announced earlier this month.

IC TIP: Hold at 1024p

Not all of the sales met with universal shareholder approval, but no one pretends that it has been plain sailing for Sir John since he came on board, particularly given the weakness in underlying markets through 2014-16.

But prices for speciality metals and bulks, most notably iron ore, strengthened considerably through last year. The consequent rise in cash flows, along with the asset sales, enabled the embattled commodities giant to reduce net debt as a proportion of shareholder funds by around two-fifths since the end of 2015. So he leaves the group, if not in rude health, then certainly in better trim than he probably might have thought possible 18 months ago.

 

 

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Abcam Gavin Wood (cfo)02 May 175,700889.7550,71611,9750.006
Aberdeen Latin American Income Fund Martin Adams02 May 1724,4507317,84974,0000.118
Alliance Trust Anthony Brooke02 May 1710,000685.7568,57513,0000.004
Alliance Trust Karl Sternberg02 May 173,00068720,6106,0920.002
Barclays Ian Cheshire02 May 1750,000210105,00050,0000.000
Blue Prism  Charmaine Eggberry28 Apr 179,48867063,570330,0000.529
Character  Jeremiah Healy27 Apr 175,00047023,50041,0000.194
Character  Mark Dowding (cfo)27 Apr 178,00047037,600108,0000.511
Connect  David Bauernfeind (cfo)27 Apr 1720,000127.425,48020,0000.008
Connect  Gary Kennedy (ch)28 Apr 1710,000126.412,64030,0000.012
Crawshaw  Jim McCarthy27 Apr 17190,00026.550,350190,0000.241
Falanx*  Mike Read (ch)03 May 17727,2736.87550,0001,977,2731.572
Frontier Developments Charles Cotton27 Apr 1710,00033533,50084,3390.247
Frontier Developments Charles Cotton28 Apr 175,00033516,75089,3390.262
JPMorgan US Smaller Companies Christopher Galleymore02 May 1710,000258.37525,83860,0000.107
John Laing♥  Olivier Brousse (ceo)27 Apr 176,873289.3519,887168,9290.046
KAZ Minerals Charles Watson28 Apr 171,532510.47,8195,1560.001
LoopUp  Barbara Judge (ch)27 Apr 1710,00015515,50033,7540.082
Man GroupKatharine Barker03 May 1740,000153.9561,57940,0000.002
Mobile Tornado*  Avi Tooba (ceo)03 May 173,000,0005150,0003,000,0001.106
Mobile Tornado*  Jeremy Fenn (ch)03 May 173,000,0005150,00011,434,7524.214
Mobile Tornado*  Peter Wilkinson03 May 176,000,0005300,00034,146,14112.584
Morses Club Nigel Knowles27 Apr 1712,000134.2516,11035,1480.027
Oakley Capital Investments Peter Dubens28 Apr 17100,000152.19152,1902,048,1671.000
Proteome Sciences♥ Martin Diggle27 Apr 17100,00055,00054,043,71518.342
Proteome Sciences♥ Martin Diggle02 May 17100,00055,00054,143,71518.376
Taylor Wimpey Angela Knight 27 Apr 175,000198.879,9445,0000.000
Tesco Alison Platt03 May 1711,185177.819,88711,1850.000
Thor Mining♥ Paul Johnson03 May 17500,0000.8794,3958,002,6492.145
Troy Income & Growth Trust♥ David Garman03 May 1730,00079.2523,775100,0000.035
Troy Income & Growth Trust♥ David Warnock (ch)03 May 17100,00079.279,200500,0000.174
Troy Income & Growth Trust Roger White03 May 17200,00079.25158,500300,0000.104
Troy Income & Growth Trust♥ Jann Brown03 May 1762,56379.549,73887,5630.030
Unilever John Rishton27 Apr 172,0003,965.9779,3192,0000.000
Upland Resources♥ Bolhassan Di27 Apr 171,000,0001.2912,90011,096,1602.896
Vesuvius Holly Koeppel27 Apr 177,500533.4440,0087,5000.003
Westmount Energy* Dermot Corcoran03 May 171,500,000575,0004,500,00016.936
Westmount Energy* Gerrard Walsh (ch)03 May 171,550,000577,5004,650,00017.501
Westmount Energy* Thomas O'Gorman03 May 171,550,000577,5004,650,00017.501
WideCells*  David Bridgland (cfo)28 Apr 1780,000129,600332,5520.559
WideCells*  Graham Hine (ch)28 Apr 1740,000124,8003,238,6985.446
WideCells*  Marilyn  Orcharton28 Apr 1715,000121,800150,9520.254
WideCells*  Lopes Gil28 Apr 1715,000121,8008,035,00013.512
WideCells*  João Andrade (ceo)28 Apr 1720,000122,4008,040,00013.521

 

 

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
AB Dynamics Rob Hart (fd)03 May 171,98557511,41417,3470.091
AB Dynamics♥ Tim Rogers (ceo)03 May 176,00057134,260392,9532.056
Anglo American John Parker (ch)28 Apr 17 1,107694,04500.000
Jupiter Fund Management Edward Bonham Carter27 Apr 17667,1534753,168,97710,006,8922.186
London Stock Exchange  Xavier Rolet (ceo)02 May 1753,5003,3821,809,370547,5880.157
Mithras Investment Trust David Shearer27 Apr 172,891217.566,2906,9140.069
Mithras Investment TrustJohn Mackie 27 Apr 172,892217.566,2926,9120.069
Mithras Investment Trust Miriam Greenwood 27 Apr 172,805217.566,1036,7080.067
Taylor Wimpey Michael Hussey28 Apr 1750,000199.899,900100,0000.003
*Placing/tender/open offer ♥Spouse/connected party