Director Dealings: Frasers Group, Just Group, Trident Royalties

James Norris reviews directors buying and selling shares in their own company in his weekly column.

• Frasers Group founder and owner makes transactions
• Renew director sells 63,718 shares
• Just Group chief executive cash’s in 542,466 share incentive
• Trident Royalties chief financial officer buys 175,000 shares
• Worldwide Healthcare Trust non-exec buys 2,175 shares

Frasers Group LON:FRAS founder and owner Mike Ashley has sold put options over 200,000 shares in the company, with a strike price of 900p and expiry of September 2023. Frasers has provided no reason for the transactions. In May, Ashley stepped down as chief executive of the company, which he founded in 1982, and then in October he also stepped down from the board, though he remains a company adviser, with a 67.4% stake in the company. At close of trading, the stock was priced at 753p, a return of -2.0% YTD and 3.1% over 12 months.

Renew LON:RNWH executive director Andries Liebenberg last week sold 63,718 ordinary shares at a price of 701p per share and 16,282 ordinary shares at 693p per share, for an aggregated total sale price of £559,200. The sale leaves Liebenberg’s holding in the company at 47,718 shares, representing 0.06% of the issued share capital. RNWH, an engineering services group supporting the maintenance and renewal of critical UK infrastructure, on 29 November announced the acquisition of Enisca Group, an engineering business focused on the water and environmental sector, from its founders for £15.6m in cash. At close of trading, the stock was priced at 687p, a return of -17.7% YTD and -20.9% over 12 months.

Just Group LON:JUST chief executive David Richardson last Friday sold 255,856 shares in three tranches at 74p for £188,233. On the same day, he had acquired 542,466 shares for nil consideration under the company’s Long-Term Incentive Plan, awarded on 16 May 2019 on his appointment. JUST, the insurance and retirement specialist with a particular focus on the bulk annuity market, has just seen its shares rally at the prospect of a record year in 2023. In August, the company reported a strong first half, with increased confidence of delivering 15% growth in underlying operating profit per annum, on average over the medium term. At close of trading, the stock was priced at 72.7p, a return of -13.0% YTD and -10.5% over 12 months.

Trident Royalties LON:TRR yesterday announced that chief financial officer and executive director Richard Hughes has purchased 175,000 ordinary shares at an average price of almost 53p per ordinary share, for £92,437. Following this share purchase, Hughes holds 475,000 ordinary shares representing 0.2% per cent of the Company’s voting rights. TRR, the mining royalty and streaming company providing investors with exposure to a mix of base battery, precious and bulk metals, last Friday sold some gold assets for almost $16m, representing a return on invested capital of 143% in around two years, and restructured its debt facility on more favourable terms. At close of trading, the stock was priced at 51.5p, a return of 45.2% YTD and 38.6% over 12 months.

Worldwide Healthcare Trust [LON:WWH] non-executive Tim Livett has bought 2,175 shares at 3,242p, for £70,513. WWH, an investor in the global healthcare sector, reported on 23 November that its net asset value per share rose during the first six months of its financial year, while its total return also picked up, outperforming its benchmark MSCI World Healthcare Index. WWH also said that continued high levels of innovation and M&A activity will help continue to deliver an ‘attractive performance’. At close of trading, the stock was priced at 3,210p, a return of -11.0% YTD and -9.8% over 12 months.