LONDON (ShareCast) - InterContinental Hotels' President of the Americas has sold 70,000 shares on Monday, reducing his stake to 388,330 shares.

The shares were sold for 1,858.95p each for a total of £1.3m.

The transaction comes just a few weeks after the company agreed to sell the leasehold interest at its London Park Lane hotel for £301.5m, 62% above the 2012 year-end net book value.

IHG has secured a 30-year management contract on the hotel, with three 10-year extension rights at IHG's discretion, giving an expected contract length of 60 years. Management fees are expected to be approximately £4.0m per annum.

The group's share price is up 25% over the past year, equal to 376p.


Top Director Buys

Share (SHRE)
Director name: Mr Richard Stone
Amount purchased: 250,000 @ 14.50p
Value: £36,250

Charles Taylor (CTR)
Director name: Mr Tito Soso
Amount purchased: 19,000 @ 165.00p
Value: £31,350

Sportech (SPO)
Director name: Mr David McKeith
Amount purchased: 30,000 @ 96.75p
Value: £29,025

PureCircle Ltd. (DI) (PURE)
Director name: Mr John Slosar
Amount purchased: 10,000 @ 256.00p
Value: £25,600

Law Debenture Corp. (LWDB)
Director name: Mr Mark Bridgeman
Amount purchased: 4,513 @ 467.00p
Value: £21,076

NCC Group (NCC)
Director name: Mr Thomas Chambers
Amount purchased: 19,000 @ 106.25p
Value: £20,188

Greencoat UK Wind (UKW)
Director name: Mr Tim Ingram
Amount purchased: 10,706 @ 106.98p
Value: £11,453


Top Director Sells

InterContinental Hotels Group (IHG)
Director name: Mr Kirk Kinsell
Amount sold: 70,000 @ 1,858.95p
Value: £1,301,265

Spectris (SXS)
Director name: Mr Clive Watson
Amount sold: 29,912 @ 1,915.99p
Value: £573,111

Smiths News (NWS)
Director name: Mr Jonathan Bunting
Amount sold: 151,356 @ 183.00p
Value: £276,981

Spectris (SXS)
Director name: Mr Roger Stephens
Amount sold: 14,272 @ 1,915.99p
Value: £273,450

Share (SHRE)
Director name: Mr Richard Stone
Amount sold: 250,000 @ 22.00p
Value: £55,000

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