TINKLER JOINS MID YEAR SALES

Nathan Tinkler has sold about half of his stake in Whitehaven Coal to his financer Farallon Funds.

The sale cuts down his stake to less than 10 per cent, raising about $300-million.

It comes 11 days before a deadline to pay ASX listed Blackwood Corp $12-million.

The agreement was made following a legal dispute and debt of more than $28-million owed by his Mulsanne Resources to Blackwood.

Meanwhile Knights CEO Matt Gidley has confirmed the sale will have no impact on the Knight’s future and its commitment to rugby league in the Hunter.

“We are extremely grateful to have someone like Nathan who has a genuine passion for the Knights, Newcastle and our junior development,” he said.