LONDON (ShareCast) - The founder and Chief Executive Officer (CEO) of Morgan Sindall has trimmed his stake in the construction and regeneration company to under a tenth over three millions pounds-worth of shares.
John Morgan sold 500,000 shares (equal to a 1.16% holding) at a price of 665p each for a total of £3.3m, taking advantage of the stock's +30% jump so far this year.
He now holds just under 4.0m shares in the company, equal to 9.24%.
Morgan co-founded Morgan Lovell in 1977 which was "reversed" into William Sindall in 1994 to form Morgan Sindall.
Just a few days before the disposal, the firm met market forecasts with its first-half results as it battled hard with "difficult market conditions". Revenues rose 2.0% to £1,019m, though adjusted profit before tax sank 24% to £15.4m.
Top Director Buys
SThree (STHR)
Director name: Mr Gary Elden
Amount purchased: 15,149 @ 345.00p
Value: £52,264
Pressure Technologies (PRES)
Director name: Mr Thomas James Lister
Amount purchased: 20,200 @ 242.50p
Value: £48,985
Unilever (ULVR)
Director name: Mr Paul S Walsh
Amount purchased: 1,000 @ 2,585.00p
Value: £25,850
Top Director Sells
Morgan Sindall Group (MGNS)
Director name: Mr John Christopher Morgan
Amount sold: 500,000 @ 665.00p
Value: £3,325,000
TVC Holdings (TVCH)
Director name: Mr David Doyle
Amount sold: 1,198,311 @ 80.95p
Value: £970,033
UBM (UBM)
Director name: Mr David Levin
Amount sold: 155,078 @ 710.50p
Value: £1,101,829
TVC Holdings (TVCH)
Director name: Mr John Tracey
Amount sold: 862,424 @ 80.95p
Value: £698,132
TVC Holdings (TVCH)
Director name: Mr Padraig O'Riordan
Amount sold: 833,333 @ 80.95p
Value: £674,583
Standard Chartered (STAN)
Director name: Mr Jaspal Bindra
Amount sold: 25,398 @ 1,586.88p
Value: £403,036
Standard Chartered (STAN)
Director name: Mr Peter A Sands
Amount sold: 24,661 @ 1,577.50p
Value: £389,027
FirstGroup (FGP)
Director name: Mr Martin J Gilbert
Amount sold: 223,972 @ 108.31p
Value: £242,584
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