LONDON (ShareCast) - Robert Rayne, a non-Executive Director of LMS Capital, an investment company specialising in small- to medium-sized companies in the consumer, energy and business services, has sold 1.44m shares in the company at 84p.

The £1.2m sale comes one week after the group unveiled plans to return up to £40m to shareholders.

The £40m marks the first chunk of what is hoped will be ongoing distributions to shareholders and is the latest step in a strategic move as it attempts to gradually realise the value of its portfolio, much of which is invested in unlisted companies, and return cash to shareholders.

The sale comes after the company set out a tender offer on November 2nd. Rayne's holding now stands at 6.77m shares.

It was announced yesterday afternoon that Paul Pindar, the Chief Executive of Capita, the outsourcing giant, has reduced his stake in the company by 400,000 shares, just three weeks after it issued a confident outlook for the year.

Pindar sold 150,000 of the shares at 778p and another 250,000 at 777p, taking his stake in the group to 878,349 shares. The transaction earned him £3.1m before tax.

In mid-November the company said it was confident it will deliver 3% organic growth for the year along with an improved cash conversion rate for 2012 as compared to 2011.


Top Director Sells

LMS Capital (LMS)
Director name: The Hon Robert Rayne
Amount sold: 1,442,264 @ 84.00p
Value: £1,211,502

Netplay TV (NPT)
Director name: Mr Andrew Christopher Lapping
Amount sold: 1,000,000 @ 11.50p
Value: £115,000

LMS Capital (LMS)
Director name: Mr Bernard J. Duroc-Danner
Amount sold: 103,230 @ 84.00p
Value: £86,713

Pennon Group (PNN)
Director name: Mr Christopher Loughlin
Amount sold: 9,037 @ 614.37p
Value: £55,521

Pennon Group (PNN)
Director name: Mr C I J H Drummond
Amount sold: 7,564 @ 614.37p
Value: £46,471

LMS Capital (LMS)
Director name: Mr Mark Sebba
Amount sold: 36,514 @ 84.00p
Value: £30,672

Topps Tiles (TPT)
Director name: Mr Matthew Williams
Amount sold: 40,000 @ 49.50p
Value: £19,800

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE