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British Land directors cash in

Two British Land directors offloaded over £800,000-worth of shares between them ahead of a positive trading update.
January 28, 2015

In amongst a flurry of deals linked to the company's incentive scheme, British Land (BLND) announced that its finance director, Lucinda Bell, had offloaded 55,000 shares at 784p apiece. She was joined a few days later by head of retail Charles Maudsley, who raised just under £400,000 by selling 50,000 shares in the FTSE 100 property developer.

IC TIP: Buy at 824p

These deals were completed ahead of a trading update that confirmed progress across a range of projects. These include London's landmark Leadenhall Building - the so-called "Cheesegrater" - where British Land has either let or received offers for 70 per cent of the floorspace. The company also said its Broadgate estate is now fully let, after office space provider WeWork took 62,000 square feet earlier this week.

Although there has been a marked slowdown in the top-end London housing market, the company continues to sell the flats in its Clarges development in Mayfair above valuation; sales at Clarges for the three quarters to Dec 31 totalled £259m.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
1pm Ron Russell21 Jan 1525,90762.6516,2317,526,15920.384
Aberdeen Asset Management Richard Mully16 Jan 1515,000402.160,31530,0000.002
Avesco  Richard Murray (ch)16 Jan 15113,000120.36136,0075,721,21129.989
Better Capital PCC Jonathan Moulton16 Jan 152,853,67770.092,000,00038,615,58218.675
BlueRock Diamonds John Kilham16 Jan 15100,00011.511,500250,0000.793
British Smaller Companies VCT *Helen Sinclair (ch)20 Jan 156,058103.036,24123,0620.032
British Smaller Companies VCT *PS Cammerman20 Jan 1510,097103.0310,40278,0720.108
British Smaller Companies VCT 2 *PC Waller20 Jan 159,25167.326,22735,2300.050
British Smaller Companies VCT 2 *RM Pettigrew20 Jan 159,25867.326,23268,0170.097
CloudBuy Lyn Duncan (ce)20 Jan 1510,00024.752,47514,730,92812.153
CloudBuy Lyn Duncan (ce)21 Jan 1510,000262,60014,740,92812.161
Diageo †Ivan Menezes (ce)20 Jan 151231,794.922,208715,1170.028
Enteq Upstream David Steel (fd)19 Jan 1512,65915.71,98781,2400.138
e-Therapeutics Steve Medlicott (fd)21 Jan 15150,00025.2537,875250,0000.095
Fidelity Special Values ΩNicky McCabe19 Jan 15117840.889842,3210.004
Finsbury Growth & Income Trust JP Allard21 Jan 158,000557.3944,59139,1060.038
Fulcrum Utility Services Stephen Gutteridge21 Jan 15100,0007.997,990504,1660.327
GlaxoSmithKline †Dr MM Slaoui16 Jan 15421,439.58605461,5220.009
Kalimantan Gold Corp *Stephen Hughes16 Jan 151,032,2471.2713,1101,032,2470.262
Kalimantan Gold Corp *Dr. Peter Pollard (ch)16 Jan 15206,4491.272,622408,5010.103
KBC Advanced Technologies ♥Oliver Scott16 Jan 15135,00090.02121,52010,180,29812.486
Lamprell ΩJohn Kennedy (ch)19 Jan 1522,977100.4823,08787,4160.026
Lamprell ΩJohn Kennedy (ch)16 Jan 1564,439100.0064,44064,4390.019
Lekoil Gregory Eckersley21 Jan 1545,00022.7510,2382,798,0500.771
London & Associated Properties ΩAK Thapar (fd)15 Jan 1553,67537.7520,262150,0470.176
London & Associated Properties ΩJA Heller (ce)15 Jan 15261,24337.7598,6191,930,2192.268
London & Associated Properties ΩMA Heller (ch)15 Jan 15132,45237.7550,0016,553,5417.700
Mirada Jose Luis Vázquez (ce)21 Jan 1540,00012.755,1002,163,0081.896
Mirada Matthew Earl21 Jan 1540,00012.1254,85099,0000.087
Mithril Capital Rodger Sargent20 Jan 15675,0004.530,3755,425,0004.230
Ncondezi Energy Michael Haworth (ch)15 Jan 151,165,1565.7867,34613,891,8995.560
Ncondezi Energy ΩMichael Haworth (ch)15 Jan 152,546,3975.78147,18216,438,2966.579
Northgate ΩC Muir (fd)16 Jan 153365131,72467,8940.051
Northgate ΩRL Contreras (ce)16 Jan 153365131,724119,7220.090
Ortac Resources *Anthony Balme (ch)16 Jan 1520,000,0000.120,000196,169,2506.967
Ortac Resources *David Paxton16 Jan 155,000,0000.15,00034,022,2201.208
Ortac Resources *Paul Heber16 Jan 155,000,0000.15,00010,000,0000.355
Ortac Resources *Vassilios Carellas (ce)16 Jan 155,000,0000.15,00040,391,1751.435
Renew Holdings Paul Scott15 Jan 155,00028614,3005,0000.008
Rosslyn Data Technologies Hugh Cox20 Jan 1538,83818.077,0189,545,00012.651
SABMiller GC Bible19 Jan 152,5003,389.3284,73391,7500.006
SABMiller ΩGC Bible19 Jan 151,0003,389.3233,89392,7500.006
SVG Capital Lynn Fordham (ce)15 Jan 1541,500420.78174,622483,8150.253
Unicorn AIM VCT *PF Dicks (ch)15 Jan 1547,441147.5569,999151,1310.216
Utilitywise Geoff Thompson (ce)15 Jan 15102,000246250,9208,290,10111.097
Utilitywise Jeremy Middleton 15 Jan 1540,00024698,4001,833,9562.455
Utilitywise Richard Feigen (ch)15 Jan 152,0082444,90068,6750.092
Verona Pharma ΩStuart Bottomley19 Jan 151,000,0001.515,00020,000,0001.980

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Arian Silver CorpAnthony Williams (ch)21 Jan 15135,00036.8049,67485,0000.251
Arian Silver CorpAnthony Williams (ch)22 Jan 1585,00036.8031,2760.000.000
BlackRock Hedge Selector Frank Le Feuvre16 Jan 1520,000135.2627,05280,0000.385
British Land Co Charles Maudsley19 Jan 1550,000797.43398,716163,6770.016
British Land Co Lucinda Bell (fd)14 Jan 1555,000784.25431,336nana
China Nonferrous Gold Abuali Ismatov16 Jan 15485,00028.55138,4686,615,0001.733
Hilton Food  Robert Watson (ce)20 Jan 1590,000390351,0002,926,3804.031
Lok'n Store  Andrew Jacobs (ce)15 Jan 154,40023810,4725,249,60020.366
Lok'n Store ♥ Andrew Jacobs (ce)15 Jan 154,40023810,4725,305,20020.581
Renew Holdings ♥Brian May (ce)20 Jan 15350,000284994,000494,1930.803
Shanta Gold Luke Leslie20 Jan 153,260,00010.64346,7010.000.000
Sports Direct International ♥Mike Ashley20 Jan 1515,400,000720110,880,000330,000,00055.141
* placing/tender/open offer ♥ spouse/connected party Ω ISA/SIPP † depositary receipts