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.

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