3.25m share cross trade!, page-11

In the Australian - any idea what is really going on here? Did WR decide to throw a lazy 500k on the pile too? Got to say that the timing doesn't bode well.

Michael Bennet From: The Australian June 21, 2010 3:51PM

Ross Norgard sells $9.6m of Brockman Resources shares

BROCKMAN Resources founding chairman Ross Norgard has sold almost $10m of shares in the emerging Pilbara iron ore play less than two weeks after stepping aside for Barry Cusack.

Between Wednesday and Friday last week, Norgards superannuation fund sold 3 million shares on-market at an average price of $3.209 - worth about $9.6m.

Brockman said the sale, which reduces Norgards holding to 9.9 per cent, was to satisfy the "demand of an international block trader". At time of publishing, Brockman had not returned calls.

Brockmans largest shareholder, Hong Kong-listed Wah Nam International Holdings, earlier this year increased its holding by a little more than 3 million shares to take its holding to 19.78 per cent.

Norgard earlier this month moved into the role of deputy chairman after the appointment of ex-Rio Tinto managing director Barry Cusack as non-executive chairman.