Gammell gave 10,000 of his own shares to the Scottish Institute of Sport Foundation, a new organisation to promote excellence in sport, which he chairs. The shares had a face value of about£175,000 but tax relief increased their worth to $250,000. A Cairn spokesman said: "The foundation is about creating a winning culture and a winning nature."
Gammell and three other directors from the Edinburgh company all personally cashed in on Cairn's rocketing share price, propelled by a string of spectacular finds in India.
