Departing Xstrata CFO sells hefty chunk of shares post-exercise

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 BuysCSR (CSR) Director name: Mr Will GardinerAmount purchased: 26,250 @ 340.20p Value: £89,302Kofax (KFX) Director name: Mr Joe RoseAmount purchased: 20,000 @ 293.40p Value: £58,680Cape (CIU) Director name: Mr Michael SpeakmanAmount purchased: 24,906 @ 200.80p Value: £50,011F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 50,000 @ 99.85p Value: £49,925IMI (IMI) Director name: Mr Roberto QuartaAmount purchased: 4,000 @ 1,061.00p Value: £42,440Perpetual Income & Growth Inv Trust (PLI) Director name: Mr Richard LaingAmount purchased: 10,000 @ 287.80p Value: £28,780Plexus Holdings (POS) Director name: Mr Jeffrey (Jeff) ThrallAmount purchased: 4,000 @ 260.00p Value: £10,400Personal Assets Trust (PNL) Director name: Mr Stuart Paul Amount purchased: 29 @ 34,950.00p Value: £10,136Top Director SellsXstrata (XTA) Director name: Mr Michael DavisAmount sold: 1,361,071 @ 1,026.00p Value: £13,964,588Xstrata (XTA) Director name: Mr Trevor ReidAmount sold: 450,760 @ 1,022.69p Value: £4,609,877Xstrata (XTA) Director name: Mr Trevor ReidAmount sold: 379,178 @ 1,025.44p Value: £3,888,243Xstrata (XTA) Director name: Mr Trevor ReidAmount sold: 310,822 @ 1,028.58p Value: £3,197,053Xstrata (XTA) Director name: Mr Trevor ReidAmount sold: 300,000 @ 1,035.63p Value: £3,106,890Capita (CPI) Director name: Mr Paul PindarAmount sold: 250,000 @ 777.00p Value: £1,942,500Capita (CPI) Director name: Mr Paul PindarAmount sold: 150,000 @ 778.00p Value: £1,167,000Xstrata (XTA) Director name: Mr Claude LamoureuxAmount sold: 27,000 @ 1,035.00p Value: £279,450VP (VP.) Director name: Mr Peter ParkinAmount sold: 67,500 @ 340.00p Value: £229,500Brewin Dolphin Holdings (BRW) Director name: Mr Robin A BayfordAmount sold: 90,815 @ 190.00p Value: £172,548