UK: SABMiller chairman sells shares totalling US$17.5m

By | 29 July 2013

SABMillers Mackay has cashed-in GBP11.4m worth of shares

SABMiller's Mackay has cashed-in GBP11.4m worth of shares

SABMiller chairman Graham Mackay, who is currently on medical leave, has sold GBP11.4m (US$17.5m) worth of his shares in the group. 

Mackay, who was granted leave in June after surgery for a brain tumour, sold 350,000 shares through the E.A.G Mackay Family Trust, the brewer revealed last week. The shares were sold at around GBP33 per share through three seperate transactions between 16 and 18 July. 

Mackay, who was replaced as SABMiller's CEO by Alan Clark in April in a speeded-up succession plan, retains 1.41m shares in the group. 

The brewer, which reported a slight rise in Q1 sales last week, also confirmed a number of board changes following its AGM. Mackay has succeeded John Manser as the nomination committee's chairman, but Manser will continue as chair for the time being. 

Miles Morland has stepped down as chairman and a member of the remuneration committee and is being replaced as its head by Lesley Knox.

FInally, Helen Weir has joined the nomination committee in place of Cyril Ramaphosa.

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