Fogarty's GRD selldown reaches $120m

The founder and one-time executive chairman of Perth-based engineering and infrastructure company GRD Ltd, Brettney Fogarty, has sold almost all of his remaining shares in the company, netting $47 million in the process.
The company announced today Mr Fogarty, who continues as a non-executive director, had sold 20.5 million shares.
This was the third large tranche Mr Fogarty has sold in six months.
He retains a relatively minor holding of 569,844 shares, worth about $1.3 million.
Mr Fogarty has offloaded 57.5 million shares since last November, earning him a total of $120.8 million.
He initially sold 17 million shares to recoup $31.8 million, followed by a sale in March this year of 20 million shares, which earned him $42 million.
Prior to November, Mr Fogarty held 30.4 per cent of the shares in GRD, which owns engineering business GRD Minproc and infrastructure provider Global Renewables.