LONDON (ShareCast) - Trevor Reid, the soon-to-depart Chief Financial Officer of mining group Xstrata, has traded in 1.44m shares after deciding not to take up the equivalent of his current position at the enlarged company following the merger with Glencore International.

Reid, who sold the shares post-exercise, disposed of them at 1,028p each. Until Thursday he had been prevented from exercising the shares as a result of a "prohibited period" as part of the merger process.

The company has given no reason for Reid's departure, but said he would act as consultant to the combined group for a period of up to six months following completion of the merger.

This would allow him to to support the integration of Xstrata's and Glencore's finance functions, Xstrata said earlier this week.

Reid joined Xstrata in 2001 and helped transform the company from a $500m ferrochrome and zinc business into a company worth almost 100 times that amount.

The transaction takes his stake in the company to 1.7m shares.


Top Director Buys

CSR (CSR)
Director name: Mr Will Gardiner
Amount purchased: 26,250 @ 340.20p
Value: £89,302

Kofax (KFX)
Director name: Mr Joe Rose
Amount purchased: 20,000 @ 293.40p
Value: £58,680

Cape (CIU)
Director name: Mr Michael Speakman
Amount purchased: 24,906 @ 200.80p
Value: £50,011

F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
Amount purchased: 50,000 @ 99.85p
Value: £49,925

IMI (IMI)
Director name: Mr Roberto Quarta
Amount purchased: 4,000 @ 1,061.00p
Value: £42,440

Perpetual Income & Growth Inv Trust (PLI)
Director name: Mr Richard Laing
Amount purchased: 10,000 @ 287.80p
Value: £28,780

Plexus Holdings (POS)
Director name: Mr Jeffrey (Jeff) Thrall
Amount purchased: 4,000 @ 260.00p
Value: £10,400

Personal Assets Trust (PNL)
Director name: Mr Stuart Paul
Amount purchased: 29 @ 34,950.00p
Value: £10,136


Top Director Sells

Xstrata (XTA)
Director name: Mr Michael Davis
Amount sold: 1,361,071 @ 1,026.00p
Value: £13,964,588

Xstrata (XTA)
Director name: Mr Trevor Reid
Amount sold: 450,760 @ 1,022.69p
Value: £4,609,877

Xstrata (XTA)
Director name: Mr Trevor Reid
Amount sold: 379,178 @ 1,025.44p
Value: £3,888,243

Xstrata (XTA)
Director name: Mr Trevor Reid
Amount sold: 310,822 @ 1,028.58p
Value: £3,197,053

Xstrata (XTA)
Director name: Mr Trevor Reid
Amount sold: 300,000 @ 1,035.63p
Value: £3,106,890

Capita (CPI)
Director name: Mr Paul Pindar
Amount sold: 250,000 @ 777.00p
Value: £1,942,500

Capita (CPI)
Director name: Mr Paul Pindar
Amount sold: 150,000 @ 778.00p
Value: £1,167,000

Xstrata (XTA)
Director name: Mr Claude Lamoureux
Amount sold: 27,000 @ 1,035.00p
Value: £279,450

VP (VP.)
Director name: Mr Peter Parkin
Amount sold: 67,500 @ 340.00p
Value: £229,500

Brewin Dolphin Holdings (BRW)
Director name: Mr Robin A Bayford
Amount sold: 90,815 @ 190.00p
Value: £172,548

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