Mende cuts Whitehaven stake

Original backer reduces Whitehaven holding by more than $15 million.

One of Whitehaven Coal's (WHC) key backers, Hans Mende, has sold a 1.18% stake in the coalminer.

Whitehaven said in a note to the ASX that the German-born billionaire had reduced his voting power from 7.15% to 5.97%.

Most of the change came from an "on market disposal" of 7.9 million shares on August 22, worth $15.6 million, the company said.

Mr Mende stepped down from the Whitehaven board last July, in a move understood to be part of a plan to scale back his international board commitments, according to the Australian.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles