Andy Vesey sells $1.24m of his AGL shares
AGL Energy chief sells $1.24 million of his company shares in the lead up to his meeting with Malcolm Turnbull today.
AGL Energy chief Andy Vesey has sold $1.24 million of his company shares in the lead up to his meeting with Prime Minister Malcolm Turnbull today, reaping some benefits from the stock’s 50 per cent gain in the past year on the back of higher power prices.
In a notice to the stock exchange, AGL said Mr Vesey had sold 50,000 ordinary shares on-market on Friday at a price of $24.82 each.
The sale was made on the business day before this afternoon’s scheduled meeting with the Prime Minister to discuss the future of the Liddell coal-fired power station in New South Wales.
Mr Vesey wants to close what will then be a 50-year-old power plant in 2022. Mr Turnbull wants him to consider selling the plant to a buyer prepared to spend capital to keep it open.
No reason was given for the share sale.
The sale leaves Mr Vesey with 376,229 ordinary AGL shares, valued at $9.3m at today’s closing share price of $24.75.
AGL has been approached for comment.