LONDON (ShareCast) - Having announced his retirement as deputy chairman less than two weeks ago, Terry Smith did not waste much time before selling his entire beneficial holding of 8.93m shares in stockbroking firm Collins Stewart.

Smith, who will quite the board of Collins Stewart to focus on his role as chief executive officer at inter-dealer broker Tullett Prebon sold his shares at 80p a pop, enabling him to trouser more than £7.1m.

Smith will give up his seat on Collins Stewart’s board on 6 December, ending an 18-year association with the firm.

Tim Ingram, chairman of Collins Stewart, said: "Terry Smith has been synonymous with Collins Stewart for many years and has been hugely influential in the development of the company and the creation of shareholder value.”

Top Director Buys

Fiberweb (FWEB)
Director name: Mr Malcolm Coster
Amount purchased: 50,000 @ 82.00p
Value: £41,000

IDOX (IDOX)
Director name: Mr Christopher Wright
Amount purchased: 210,000 @ 12.40p
Value: £26,040

H.R. Owen (HRO)
Director name: Mr Jon Walden
Amount purchased: 24,000 @ 88.50p
Value: £21,240

Henderson Diversified Income Ltd. (HDIV)
Director name: Mr Paul V F S Manduca
Amount purchased: 20,000 @ 82.50p
Value: £16,500

Aminex (AEX)
Director name: Mr Keith Phair
Amount purchased: 194,921 @ 7.49p
Value: £14,600


Top Director Sells

Collins Stewart (CLST)
Director name: Mr Terry Smith
Amount sold: 8,930,779 @ 80.00p
Value: £7,144,623

City of London Investment Group (CLIG)
Director name: Mr Barry M Olliff
Amount sold: 500,000 @ 400.00p
Value: £2,000,000

Bahamas Petroleum Co (BPC)
Director name: Mr Alan R Burns
Amount sold: 10,000,000 @ 6.98p
Value: £698,000

Shanta Gold Ltd. (SHG)
Director name: Mr Walter David Scott
Amount sold: 250,000 @ 28.00p
Value: £70,000

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