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.
