LONDON (ShareCast) - Four members of Babcock’s board of directors exercised share awards in the engineering support services firm over the past few days, building their stakes following a strong rise in the share price so far this year.

Babcock has performed relatively well in 2013 despite the ongoing wider market volatility, with the shares up 21% since the start of the year. The impressive gains pushed the stock to an all-time high of 1,209p last month.

The directors, namely Peter Rogers (Chief Executive), Bill Tame (Finance Director), Kevin Thomas (head of Support Services) and Archie Bethel (head of Marine & Technology), each exercised share awards and subsequently sold only enough to cover resultant tax liability and dealing costs whilst continuing to hold the balance, the company said.

On August 9th, Rogers exercised 326,926 awards and sold 147,824 at 1,197p per share for just under £1.77m. The shares left over pushed his stake up to nearly 900,000 shares, equal to a 0.245% stake.

Tame exercised 167,896 on the same day, selling 79,178 at the same price for £0.95m, with his holding rising to 0.124%.

Then on August 14th, Thomas exercised 158,830 awards and sold 74,829 at 1,177.14p each for £0.88m; his stake rose to 0.046%. Bethel also exercised 132,109 on the same day, selling 62,216 at the same price for £0.73m.



Top Director Buys

Frenkel Topping Group (FEN)
Director name: Mr Richard Fraser
Amount purchased: 48,327 @ 26.90p
Value: £13,000


Top Director Sells

Babcock International Group (BAB)
Director name: Mr Kevin Thomas
Amount sold: 74,829 @ 1,177.14p
Value: £880,842

Babcock International Group (BAB)
Director name: Mr Archie Bethel
Amount sold: 62,216 @ 1,177.14p
Value: £732,369

Lombard Risk Management (LRM)
Director name: Mr Paul A E Tuson
Amount sold: 1,200,000 @ 11.75p
Value: £141,000

GETECH Group (GTC)
Director name: Mr Peter Stephens
Amount sold: 30,000 @ 82.00p
Value: £24,600

Fidelity Japanese Values (FJV)
Director name: Mr Simon Fraser
Amount sold: 24,000 @ 73.50p
Value: £17,640

BC

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