Africa’s largest steel group Iscor (ISC) on Monday announced that group CEO Louis van Niekerk last week sold a total of 250 000 shares.
Van Niekerk sold the shares for R27,25 last Wednesday — the day Iscor’s share price touched a one-year high of R27,70. The sale garnered Van Niekerk R6,8-million.
Iscor executive director Davinder Chugh also sold his 14 390 shares for R395 725. Iscor human resources director Abe Thebyane sold 19 310 shares for R531 025.
Meanwhile, Anglo Dutch group LNM Holdings NV — a member of the LNM Group, the world’s second largest steel producer -‒ last week increased its Iscor shareholding to 49,9% from 47,23%.
In its most recent financial year, Iscor produced 7,1-million tons of
liquid steel, half of which was exported and the rest sold to industrial consumers in South Africa. – I-Net Bridge