LONDON (ShareCast) - The Chairman of CLS Holdings cut his sizeable stake in the company this week while the Vice Chairman chose to increase his holding, just two days after the property group impressed the market with its first-half report.

CLS said on Friday that Sten Mortstedt, the Chairman who established the firm in 1987, sold 60,000 shares through his family and charity trust at 1,210p each, raising a total of £726,000.

The sale trimmed his total interest in CLS to 22.66m shares, equal to a 53.04% stake.

On the same day (Thursday), Vice Chairman and former Chief Executive Henry Klotz bought the same amount of shares at the same price, spending £726,000. His holding increased to 71,395 shares (0.17%).

The transactions could after a +50% rise in the share price so far this calendar year.

CLS, which has a market cap of over £500m, said on Tuesday that pre-tax profit in the first half rose 6.6% to £22.7m, while net assets per share were up 6.0% at 1,223.7p.

Mortstedt said in a statement: "This is a good time in the cycle to be buying property. The group continues to benefit from low interest rates and favourable rental markets, which remain solid throughout our regions.


In other director dealings, Bruce Van Saun, the Finance Director of state-backed lender Royal Bank of Scotland (RBS), sold nearly 0.4m pounds-worth of shares in the company this week, it was revealed on Friday.

Van Saun sold a total of 115,000 shares at 340.21p each on August 15th, making £391,242.



Top Director Buys

CLS Holdings (CLI)
Director name: Mr E Henry Klotz
Amount purchased: 60,000 @ 1,210.00p
Value: £726,000

Berkeley Group Holdings (The) (BKG)
Director name: Mr Robert C G Perrins
Amount purchased: 4,619 @ 2,154.00p
Value: £99,493

Berkeley Group Holdings (The) (BKG)
Director name: Mr Robert C G Perrins
Amount purchased: 1,849 @ 2,152.00p
Value: £39,790

Princess Private Equity Holding Ltd. (PEY)
Director name: Mr Fergus Dunlop
Amount purchased: 4,000 @ € 6.57
Value: € 26,280

Hammerson (HMSO)
Director name: Mr Gwyn Burr
Amount purchased: 5,000 @ 501.00p
Value: £25,050

Robert Walters (RWA)
Director name: Mr Brian McArthur-Muscroft
Amount purchased: 7,140 @ 280.25p
Value: £20,010

Coalfield Resources (CRES)
Director name: Mr Jonson Cox
Amount purchased: 300,000 @ 6.60p
Value: £19,800


Top Director Sells

CLS Holdings (CLI)
Director name: Mr Sten A Mortstedt
Amount sold: 60,000 @ 1,210.00p
Value: £726,000

Synthomer (SYNT)
Director name: Mr Alexander G Catto
Amount sold: 200,000 @ 230.00p
Value: £460,000

Royal Bank of Scotland Group (RBS)
Director name: Mr Bruce Van Saun
Amount sold: 115,000 @ 340.21p
Value: £391,242

Share (SHRE)
Director name: Mr Iain Paul Wallace
Amount sold: 52,589 @ 21.00p
Value: £11,044

BC

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