11th Dec 2019 10:46
(Alliance News) - Swiss commodity broker and miner Glencore PLC on Wednesday said Chief Financial Officer Steve Kalmin has bought shares worth over GBP1 million.
Kalmin, in a transaction on Tuesday, purchased 500,000 shares at a price of 217 pence each, for a total of GBP1.1 million. Glencore did not say how many shares he now holds.
Shares in the company in London were 0.3% higher on Wednesday at 217.45 pence apiece. Shares have lost 8.8% since Wednesday last week. In Johannesburg, the shares were up 0.4% at ZAR42.31.
The purchase comes just under a week after the UK Serious Fraud Office opened up an investigation into alleged bribery on the part of Glencore, which said it will cooperate with the investigation.
The SFO in a short statement said: "Following the announcement by Glencore, the SFO confirms it is investigating suspicions of bribery in the conduct of business by the Glencore group of companies, its officials, employees, agents and associated persons."
Bloomberg reported way back in May 2018 the SFO was preparing an investigation over dealings in the Democratic Republic of the Congo, where Glencore has a number of mines.
By George Collard; [email protected]
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