Pemberton raises $4.9m in share sale

NRW Holdings managing director Jules Pemberton has sold 3.65 million shares to fund personal tax liabilities, at a price that was less than half the January peak in the company's share price.

Mr Pemberton sold the stock on March 20 at $1.36 per share.

NRW’s shares close 5 cents higher today at $1.20.

They traded as low as $1.10 earlier this month after briefly touching an eight-year high of $3.40 in January.

The company said Mr Pemberton’s tax liabilities were directly linked to the award of shares from the company’s long-term incentive plan.

The trades were completed shortly after the lifting of a share trading restriction linked to the acquisition of BGC Contracting, the associated equity raise and contract announcements made last week.