James Norris reviews directors buying and selling shares in their own company in his weekly column.
- Directors sell shares in Best of the Best
- CFO sells shares in Cranswick
- Non exec buys shares in Berkeley Group
- Non exec buys shares in Capital & Counties Properties
- Directors purchase shares in Inland Homes
Best of the Best (LON: BOTB), the London-based operator of weekly online raffle competitions, has announced that chief executive William Hindmarch sold 1,689,970 shares in the company at 400p per share, almost 60% of his holding, for a total of £6,759,880, reducing his shareholding from 32% to 11.9% of the company’s issued share capital. The transaction followed the statement last week that Globe Invest Ltd, the family office of Teddy Sagi, founder of gaming technology firm Playtech (LON: PTEC), would acquire a strategic 29.9% stake in BOTB, buying 2,501,740 shares also at 400p per share. Commercial director Rupert Garton sold 477,822 shares at the same price for £1,911,288, leaving him with 3.4% of the company’s shares, while Michael Hindmarch, the former chairman of BOTB, also sold 333,948 shares leaving him with 2.5%. At close of trading yesterday, the stock was priced at 450p, a return of -27.1% YTD and 33.2% over 12 months.
Cranswick (LON: CWK) chief financial officer Mark Bottomley has sold 2,670 shares at 29.97p, for £80,023. Cranswick, the Hull-based meat producer, reported a 7.6% increase in revenue year-on-year during the first quarter of its current financial year, responding to cost pressures with tight cost control and price increases of its own. Sales to the Far East were down year-on-year, in part due to a suspension of its export licence to China, but sales across the UK were all above last year’s figures. At close of trading yesterday, the stock was priced at 3,104p, a return of -17.0% YTD and -21.5% over 12 months.
Berkeley Group Holdings (LON: BKG) non-executive director Andy Kemp bought 2,636 shares at 3,604p, for £94,998.60. BKG shares gained almost 5% yesterday on news that trading in the first four months of its new financial year was ahead of financial year 2022, thanks to a “good level of demand [that] continues to support pricing above business plan levels”, despite the soaring inflation affecting the housebuilding sector. BKG added that it was on track to meet annual profit guidance, with forward sales expected to be “marginally above” the £2.17bn booked as of April 30, thanks to its south-east focus and a more premium product. At close of trading yesterday, the stock was priced at 3,716p, a return of -22.2% YTD and -18.9% over 12 months.
Capital & Counties Properties (LON: CAPC) non-executive director Jonathan Lane last Friday bought 100,000 shares in three tranches at 118p, for a total of £117,900, after shareholders approved the merger with Shaftesbury Plc (LON: SHB), another property company. Shaftesbury Capital, the merged entity, aims to be a leading central London mixed-used REIT with a portfolio of about 670 properties in London’s West End. The merger, which awaits approval of the regulator, should complete by year end. At close of trading yesterday, the stock was priced at 121.6p, a return of -27.9% YTD and -27.7% over 12 months.
Inland Homes (LON: INL) founder and chief executive Stephen Wicks last Friday bought 223,183 shares at 22p for £49,993, giving him an 8.12% interest in the company; chief financial officer Nishith Malde bought 23,891 shares at 0.21p for £4,998; and non-executive chairman Simon Bennett bought 50,000 shares for £10,450. The trades followed the announcement last week that Wicks is to retire at the end of September, and that Malde will take over as interim CEO. The Board also announced a strategic review of the business and that the share buy-back programme is suspended until the review has concluded. At close of trading yesterday, the stock was priced at 23.7p, a return of -55.2% YTD and -51.7% over 12 months.