LONDON (ShareCast) - Ian Cheshire, Chief Executive Officer of do-it-yourself retailer Kingfisher, has sold 994,482 shares in the company after earning them through the Performance Share Plan and the Kingfisher Incentive Share Scheme.

Cheshire earned himself £2.87m after selling the shares for 288.42p each. He now has just under 1.13m shares in the company.

He sold the shares to meet his tax liabilities following the exercise of the shares and to diversify personal finances.

At the end of May the company posted a 3.6% decline, or 1.3% on a constant currency (CC) basis, in total sales for the 13 weeks to April 28th from a year earlier at £2,632m, as poor weather across Europe affected footfall. Like-for-like (LFL) sales were down 4.8% on a CC basis.

The share price is up six per cent over the past year, and four per cent in the past month.

On Tuesday the share price fell 2.49% to 281.80p.


Top Director Buys

UMC Energy (UEP)
Director name: Mr Jonathan R Reynolds
Amount purchased: 500,000 @ 11.13p
Value: £55,650

TUI Travel (TT.)
Director name: Ms Janis C Kong
Amount purchased: 15,000 @ 174.20p
Value: £26,130

JPMorgan US Smaller Companies Inv Trust (JUSC)
Director name: Mr Mark Ansell
Amount purchased: 2,000 @ 964.02p
Value: £19,280

Top Director Sells

Kingfisher (KGF)
Director name: Mr Ian Cheshire
Amount sold: 994,482 @ 288.42p
Value: £2,868,285

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