Aurora's Stewart sells off $3.4m in shares

Aurora Oil & Gas chairman Jonathan Stewart has sold off a million shares in the company, raising more than $3.4 million.

The company said Mr Stewart sold the shares at $3.42 each to meet tax liabilities associated with his performance-based incentives.

Mr Stewart had not sold any shares in Aurora until today, since buying in in 2005.

Aurora said Mr Stewart retained nearly 20 million shares in Aurora and has no plans to sell any further company stock.

Aurora shares were down 1.3 per cent at 1:45PM, WST, trading at $3.30.

Mr Stewart’s sell-down to meet his tax obligations follows similar moves last week by Mermaid Marine boss Jeff Weber, as well as Wesfarmers executives Richard Goyder and Terry Bowen.