LONDON (ShareCast) - Rightmove's Chairman Scott Forbes has offloaded nearly a half of a holding in the property website group, selling over seven million pounds in shares.

Forbes, who has been in his current role since 2005, sold 300,000 shares at an average price of 2,350.81p each, raising a total of £7.05m.

Following the deal, his holding was reduced to 319,300 shares, representing a 0.3221% stake in the company.

Rightmove said earlier this month that it had made a "positive start" to 2014 as audience continued to grow with page impressions up 14% in the first four months of the year.

Meanwhile, the company generated a record 14.8m enquiries for its customers, up 30% on the year, while average revenues per advertiser showed "healthy growth".

The business has been boosted over the past year by the recent boom in the UK housing market. However, competition has increased in recent months with rival firm Zoopla announcing its intention to float in June and another property portal called Agent Mutual due to launch next January.

Rightmove's shares have fallen by around 15% in the year-to-date but have still risen by nearly 500% since the stock first listed in 2006.

Top Director Buys

Everyman Media Group (EMAN)
Director name: Mr Adam Kaye
Amount purchased: 207,409 @ 89.00p
Value: £184,594

REA Holdings (RE.)
Director name: Mr David Blackett
Amount purchased: 10,000 @ 470.00p
Value: £47,000

Venn Life Sciences Holdings (VENN)
Director name: Mr David Eric Evans
Amount purchased: 210,000 @ 20.50p
Value: £43,050

Dunedin Enterprise Investment Trust (DNE)
Director name: Mr Brian Finlayson
Amount purchased: 6,600 @ 429.78p
Value: £28,365

Wolf Minerals Limited (WLFE)
Director name: Mr Russell Clark
Amount purchased: 83,333 @ 30.00p
Value: £25,000

Kea Petroleum (KEA)
Director name: Mr Ian Roderick Gowrie-Smith
Amount purchased: 865,140 @ 1.95p
Value: £16,870

NWF Group (NWF)
Director name: Mr Philip Acton
Amount purchased: 10,000 @ 155.00p
Value: £15,500

Laird (LRD)
Director name: Mr David Lockwood
Amount purchased: 4,163 @ 283.59p
Value: £11,806


Top Director Sells

Rightmove (RMV)
Director name: Mr Scott Forbes
Amount sold: 300,000 @ 2,350.81p
Value: £7,052,430

Grafton Group Units (GFTU)
Director name: Mr Gavin Slark
Amount sold: 41,700 @ 585.00p
Value: £243,945

Hansa Trust 'A' Non Voting Shares (HANA)
Director name: Professor Geoffrey Wood
Amount sold: 6,500 @ 960.00p
Value: £62,400

Hansa Trust (HAN)
Director name: Professor Geoffrey Wood
Amount sold: 5,000 @ 952.00p
Value: £47,600

Dunedin Enterprise Investment Trust (DNE)
Director name: Mr Brian Finlayson
Amount sold: 5,975 @ 475.00p
Value: £28,381

BC

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