LONDON (ShareCast) - The long-running frontman of injet printing technology firm Xaar sold 150,000 shares in the company on the same day it reported an impressive set of first-half results with the stock trading close to an all-time high.
Ian Dinwoodie, who has been Chief Executive Officer for over a decade, disposed of the shares at a price of 834.5p each, earning himself £1.25m.
The transaction - which comes after a near-200% surge in its share price since the start of 2013 - cut his holding by nearly a quarter to 57,449, equal to a 0.08% stake.
The company said that this deal was part of a pension fund re-balancing exercise.
Meanwhile, Ramon Borrell, Research and Development Director, exercised options over 205,357 shares in the company under its long-term incentive plan of 2007. The shares were then sold at a price of 841.0627p, earning him £1.73m. His stake remained at 0.24% following the transaction.
Xaar hiked its dividend by 150% in the first half after adjusted profits more than tripled to £22.3m on revenues that nearly doubled to £67.2m. The shares however failed to rise after the results on Thursday.
Analyst Thomas Rands from Investec explained: “After four upgrades in nine months the lack of further positive revisions will surely disappoint some; however, this pause was highly likely after what has been a very strong outperformance.”
Top Director Buys
Intu Properties (INTU)
Director name: Mr John Whittaker
Amount purchased: 50,000 @ 307.80p
Value: £153,900
Renold (RNO)
Director name: Mr Robert Purcell
Amount purchased: 500,000 @ 28.00p
Value: £140,000
Serco Group (SRP)
Director name: Mr Alastair Lyons CBE
Amount purchased: 18,600 @ 534.80p
Value: £99,473
Serco Group (SRP)
Director name: Mr Christopher R Hyman
Amount purchased: 18,400 @ 539.50p
Value: £99,268
office2office (OFF)
Director name: Mr David Callear
Amount purchased: 200,000 @ 34.00p
Value: £68,000
Sierra Rutile Ltd (SRX)
Director name: Mr Jan Alex Castro
Amount purchased: 125,000 @ 54.00p
Value: £67,500
Serco Group (SRP)
Director name: Mr Andrew Jenner
Amount purchased: 9,030 @ 549.49p
Value: £49,619
Top Director Sells
Xaar (XAR)
Director name: Mr Ramon Borrell
Amount sold: 205,357 @ 841.06p
Value: £1,727,176
Xaar (XAR)
Director name: Mr Ian Dinwoodie
Amount sold: 150,000 @ 834.50p
Value: £1,251,750
Randall & Quilter Investment Holdings (DI) (RQIH)
Director name: Mr Paul McNamara
Amount sold: 15,000 @ 138.00p
Value: £20,700
LMS Capital (LMS)
Director name: Mr Bernard J. Duroc-Danner
Amount sold: 14,151 @ 76.80p
Value: £10,868
BC
Email this article to a friend
or share it with one of these popular networks: