Ferrexpo finance chief sold £400,000 stake on eve of share slump. Sell-off came hours before auditor resigned amid scandal over Ukraine charity payments. The chief financial officer of scandal-hit mining company Ferrexpo (FXPO) sold shares worth more than £400,000 the day before the FTSE 250 mining company lost almost a third of its market value. Chris Mawe sold 150,000 shares worth a total of £402,045 on Thursday, hours before accounting firm Deloitte resigned as auditor following a scandal surrounding potential misappropriation of money paid by Ferrexpo to a charity called Blooming Land, which supports local social and health projects in Ukraine. Deloitte’s resignation triggered a 28% fall in Ferrexpo’s share price on Friday. At the time of writing Ferrexpo’s share price was £2.07, about 23% below the £2.6803 price at which Mawe sold.
Hammerson faces shareholder rebellion over executive pay. Shopping centre firm’s investors urged to vote against multimillion-pound payments. Hammerson (HMSO), which owns shopping centres including the Bullring in Birmingham and Brent Cross in London, faces a potential shareholder rebellion this week over multimillion-pound share payouts to executives. The property company has been criticised by Institutional Shareholder Services (ISS), a shareholder advisory group, which has urged investors to vote against executive pay at Hammerson’s annual meeting in London on Tuesday. ISS said Hammerson had not considered the company’s declining share price – down 40% in the past year – when making share award decisions for the chief executive, David Atkins, and other senior executives.
