[miningmx.com] – RESTRAINTS on the sale of shares awarded to Glencore executives when the Swiss commodity group listed in 2013 – equal to about a third of the company – expire next week, said Bloomberg News.
This raises the possibility that liquidations in share options could trim Glencore’s share price although the inclination to sell would be tempered by rock bottom commodity prices which have dimmed share ratings of most mining companies.
“With the senior execs that’s always been seen as the risk,’ Paul Gait, a mining analyst at Sanford C. Bernstein told Bloomberg News.
“These guys are now fabulously wealthy so don’t they just monetize their positions and sail off into the sunset? So far it doesn’t seem to have been the case,’ Gait said.
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