Rheinmetall CEO Papperger Cashes In After 1,200% Rally [BNN Bloomberg (Canada)]
RHEINMETALL AG UNSP/ADR (RNMBY)
NASDAQ:AMEX Investor Relations:
rheinmetall.com/en/rheinmetall_ag/corporate_social_responsibility/stakeholder_2/investoren_2/index.php
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Source: BNN Bloomberg
in January 2013, is pocketing profits from a rally fueled by demand for armaments in Europe. Papperger sold shares worth around €5 million ($5.42 million) on March 19, the company said in a statement late on Tuesday, when the stock closed at a record €487.80. He disposed of the stock at an aggregate price of €474.06 apiece, equivalent to about 10,350 shares. Papperger, who has purchased 165,000 Rheinmetall shares since becoming a member of the executive board in January 2012, made the share sale as part of a “private asset reallocation,” a company spokesman said. Rheinmetall is one of a number of European weapons contractors benefiting from the continent's effort to increase defense outlays following years of neglect, amid the growing threat from Russia and questions around the US commitment to the NATO military alliance. The company, which is supplying tactical vehicles, anti-aircraft tanks and mobile field hospitals to Ukraine, saw its order backlog hit a record €38.3 billion
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