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BHP boss rewarded

BHP’s chief executive has received share awards totalling nearly 100,000 shares worth nearly £2m

Andrew Mackenzie, the man responsible for cutting costs and trimming the fat at the world’s biggest mining group by market capitalisation, BHP Billiton (BLT), can be happy with his performance since taking over at the helm last year.

IC TIP: Hold at 1920p

Last month the chief executive announced plans to spin off BHP’s non-core assets via a multi-billion-dollar demerger, which was generally well received by the market. He also demonstrated impressive operational improvements: underlying profits shot up 10 per cent to $13.4bn (£8.1bn) in the year ended 30 June. That was the first time since 2011 that BHP registered year-on-year profit growth.

True, BHP’s share price has only climbed a few percentage points during his tenure at the top. But Mr Mackenzie is still benefiting handsomely from the company’s minor revival, having been with the company since 2008. This month Mr Mackenzie was awarded nearly 100,000 BHP shares under various incentive schemes, including long-term performance shares and dividend-equivalent payments. They’re worth nearly £1.9m at the current share price of 1,920p, so he sold £621,000 worth of stock to cover expected tax obligations.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Aberdeen Asian Income Fund PAK Arthur (ch)22 Aug 14241207.550041,9010.022
AGA Rangemaster  Shaun Smith (fd)22 Aug 143,8461576,038171,8430.248
AGA Rangemaster  William McGrath (ce)22 Aug 146,41015710,064247,6960.358
APC Technology  Leonard Seelig (ch)27 Aug 1439,49637.914,969128,6490.220
APC Technology ♥ Leonard Seelig (ch)27 Aug 1439,49637.914,969126,4710.216
BlackRock Throgmorton Trust The Rt Hon L Latymer (ch)26 Aug 1451290.514830,8430.042
BlackRock Throgmorton Trust ESC Stobart26 Aug 14170290.549421,3350.029
BlackRock Throgmorton Trust SD Beart26 Aug 14160290.546532,0700.044
BlackRock Throgmorton Trust SD Beart26 Aug 14176290.551132,2460.044
Braveheart Investment  TE Brown22 Aug 141,315,43912.5164,4306,858,98325.352
Glencore Patrice Merrin26 Aug 1440,000361.04144,41640,000<0.001
Gresham Computing ♥M Royde21 Aug 1437,500116.99243,8725,913,1549.351
Imaginatik Matt Cooper (ch)21 Aug 1450,00052,50013,220,31721.411
Imagination Technologies  Kate Rock22 Aug 1410,000201.520,15010,0000.004
Jersey Electricity Geoffrey Grime (ch)22 Aug 143,0003289,84010,0000.086
JPMorgan Russian Securities A Easton27 Aug 142,018443.138,94212,0180.023
Martin Currie Pacific Trust G Shenkman21 Aug 145,072293.514,8865,0720.013
Murray Income Trust ♥PAF Gifford (ch)22 Aug 14128776.599441,1730.061
Palace Capital *Neil Sinclair27 Aug 1419,35431059,997173,7670.866
Palace Capital *Stanley Davis (ch)27 Aug 14161,290310499,9991,565,2877.797
Palace Capital *Anthony Dove27 Aug 1432,258310100,00075,2580.375
Palace Capital *Richard Starr27 Aug 1432,258310100,00082,2580.410
Partnership Assurance  Steve Groves (ce)22 Aug 14100,000117117,0009,601,5342.400
Primary Health Properties Steven Owen27 Aug 14883347.683,0708,4740.008
Primary Health Properties Steven Owen27 Aug 14886346.753,0727,5910.007
PZ Cussons Brandon Leigh (cfo)27 Aug 1418,06937167,036118,2970.028
QinetiQ ♥  Michael Harper27 Aug 1410,000214.8121,48130,0000.005
SABMiller John Manser (ch)27 Aug 143,0003,318.1999,5468,000<0.001
SABMiller Jan du Plessis01 Sep 1430,0003,312.50993,750nana
Standard Chartered Andy Halford (fd)26 Aug 142,0001,226.8524,5372,000<0.001
SThree Gary Elden (ce)22 Aug 1433,614003,217,7332.587
Tangent Communications David Steyn27 Aug 14250,000820,000550,0000.198
TT electronics John Shakeshaft22 Aug 145,9361679,91357,1420.036

* placing/tender/open offer ♥ spouse/connected party † In respect of voting rights held indirectly by ARCADIS N.V.

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
BAE Systems Paul Anderson21 Aug 1450,000442.2221,10010,000<0.001
BHP Billiton Andrew Mackenzie (ce)21 Aug 1431,8091,952620,912266,1640.013
Boot (Henry) John Sutcliffe (fd)27 Aug 1410,00020420,400502,9550.383
First Quantum Minerals Peter St George26 Aug 1435,00000471,6600.079
Hyder Consulting †Russell Down (fd)21 Aug 1445,000730328,50000
Hyder Consulting †Jeffrey Hume (ch)21 Aug 1410,00073073,00000
Hyder Consulting †Ivor Catto (ce)21 Aug 14170,6477301,245,72300
Hyder Consulting †Kevin Taylor21 Aug 147,49073054,67700
Hyder Consulting †Paul Withers21 Aug 1450,000730365,00000
PHSC Stephen King (ce)26 Aug 1430,000309,0003,203,10025.248
Ultra Electronics Holdings Christopher Bailey22 Aug 142,5001,81545,37500

* placing/tender/open offer ♥ spouse/connected party † In respect of voting rights held indirectly by ARCADIS N.V.