LONDON (ShareCast) - David Hathorn, the Chief Executive Officer of international packaging and paper group Mondi, on New Year's Eve reduced his stake in the company by 50,000 shares.

Hathorn earned £522,600 from the sale after disposing of each share at 1,045.20p.

The trade-in comes just two months after the group reported that its sales volumes in the third quarter were held back by planned maintenance shutdowns at some of its larger sites, although it did say expectations for the full year remained unchanged.

Nonetheless, its outlook at the time was cautious, citing a low-growth environment and rising competition in some markets.

Adjusted sales volumes in the three months to September 30th were broadly in line with the previous year but below the second quarter due to the scheduled maintenance, in addition to seasonally weaker demand for uncoated fine paper.

Despite the weakness on the top line, underlying operating profit rose 25% year-on-year to €172m after "improved market conditions" in the Packaging Paper division and the South Africa region, along with benefits from acquisitions made the year before.


Top Director Buys

Symphony International Holdings Ltd. (SIHL)
Director name: Mr Georges Gagnebin
Amount purchased: 130,000 @ $0.75
Value: $97,201

Assura Group Ltd. (AGR)
Director name: Mr Jonathan Murphy
Amount purchased: 100,000 @ 38.00p
Value: £38,000

Invesco Asia Trust (IAT)
Director name: Miss Carol Ferguson
Amount purchased: 20,000 @ 158.52p
Value: £31,704

Henderson Far East Income Ltd. (HFEL)
Director name: Mr David Staples
Amount purchased: 5,700 @ 318.46p
Value: £18,152

Aberdeen Private Equity Fund Ltd. Sterling Part Shares (APEF)
Director name: Mr David Staples
Amount purchased: 20,000 @ 77.51p
Value: £15,502


Top Director Sells

Mondi (MNDI)
Director name: Mr David A Hathorn
Amount sold: 50,000 @ 1,045.16p
Value: £522,580

New Europe Property Investments (NEPI)
Director name: Mr Dewald Joubert
Amount sold: 730 @ € 5.55
Value: € 4,051

New Europe Property Investments (NEPI)
Director name: Mr Dewald Joubert
Amount sold: 400 @ € 5.56
Value: € 2,225

Dillistone Group (DSG)
Director name: Mr Alexander James
Amount sold: 20,000 @ 102.00p
Value: £20,400

NR

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