CAPITAL MARKETS

Dushnisky cashes in AngloGold shares

Sells 20,000 on NYSE

Staff reporter
 Outgoing AngloGold Ashanti CEO Kelvin Dushnisky

Outgoing AngloGold Ashanti CEO Kelvin Dushnisky

The miner said in a filing yesterday Dushnisky had sold 20,000 American Depositary Receipts in an on-market sale on the New York Stock Exchange on August 13, with a transaction value of $572,116 before costs.

The price per share was $28.6058.

He had held 131,730 ADRs at December 31, according to the company's annual report.

Fellow executives Graham Ehm and Tirelo Sibisi had sold 25,000 and 43,000 JSE-listed shares respectively last week, with transaction values of about R129,000 and R222,000 (US$7,400 and $12,700) respectively.

Toronto-based Dushnisky had announced he would step down last month after two years in the role with the South Africa-headquartered gold miner, with CFO Christine Ramon appointed interim CEO.

Dushnisky had reiterated on a conference call earlier this month his decision to resign was a personal one to be closer to family. 

Bloomberg had reported Dushnisky was pushed to leave after shareholders asked for further investigations into a bonus payment by his former employer Barrick Gold which he hadn't initially disclosed, although the company told the wire service it did not threaten an investigation into a bonus nor request the resignation.

AngloGold closed up 4.7% in New York yesterday to $29.72, capitalising it at $12.4 billion.

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