LONDON (ShareCast) - The Chairman of Inmarsat made 1.4m pounds this week by selling around a fifth of his stake in the satellite operator, the firm announced on Thursday.

Andrew Sukawaty, who joined the firm 10 years ago, sold 200,000 shares in the company at a price of 700p each, taking advantage of the stock’s 20% rise so far in 2013.

After the £1.4m sale, his holding was reduced to 812,274 shares.

Sukawaty, who used to be the company's Chief Executive Officer before being made Executive Chairman in January 2012, made the disposal just a week after the firm’s half-year report which saw revenues and profits beat analysts’ forecasts.

Adjusted revenues were up 1.0% at $635.2m, while adjusted pre-tax profit rose 6.0% to $183.5m.

Top Director Buys

Hutchison China Meditech Ltd (HCM)
Director name: Mr Christopher Nash
Amount purchased: 8,506 @ 584.00p
Value: £49,675

Ceres Media International (CMI)
Director name: Mr Alexexander S. Dowdeswell
Amount purchased: 5,400,000 @ 0.50p
Value: £27,000

Ceres Media International (CMI)
Director name: Mr Leslie C. Barber
Amount purchased: 3,000,000 @ 0.50p
Value: £15,000


Top Director Sells

Inmarsat (ISAT)
Director name: Mr Andrew (Andy) Sukawaty
Amount sold: 200,000 @ 700.00p
Value: £1,400,000

Jarvis Securities (JIM)
Director name: Mr Andrew J Grant
Amount sold: 250,000 @ 400.00p
Value: £1,000,000

Capital & Counties Properties (CAPC)
Director name: Mr Gary Yardley
Amount sold: 177,158 @ 362.91p
Value: £642,924

CSR (CSR)
Director name: Dr Levy Gerzberg
Amount sold: 56,476 @ 521.16p
Value: £294,330

Capital & Counties Properties (CAPC)
Director name: Mr Ian Hawksworth
Amount sold: 82,777 @ 361.86p
Value: £299,537

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