Weldon sells $12.5m NZX shares
NZX's former boss cashes in $12.5 million worth of its shares.
Mark Weldon has cashed in $12.5 million worth of NZX shares.
A disclosure notice just released to the NZX reveals Mr Weldon, its former chief executive, sold 9,500,000 ordinary shares in the stock exchange operator, for $12,540,000 on Friday (The number reflects the seven-for-three share split in May).
Mr Weldon left the NZX, operator of the New Zealand Stock Exchange, in May after 10 years in the job and is no longer a director of the board.
He has been replaced by Tim Bennett.
NZX shares closed up 1c at $1.36 today, having fetched between 88c and $1.37 over the last year.
Mr Weldon has been one of the NZX's largest shareholders. Last year he sold a large parcel of his personal shares to buy a a vineyard in Central Otago – a business investment rather than a full-time pursuit..
Mr Weldon’s next corporate move is not yet known.
He accepted an invitation to join the board of Dilligent Board Member Services - the software company that has been one of NZX's best-performing stocks in the past two years - in May.
On Friday, the day of Mr Weldon's share sale, the Financial Markets Authority released its scorecard of how the NZX was meeting obligations as a market operator.
Georgina Bond
Tue, 03 Jul 2012
Tue, 03 Jul 2012
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Weldon sells $12.5m NZX shares
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