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Asos founder cuts his cloth

The online retailer's Nick Robertson has reduced his stake in the company after a recent run-up in the shares
June 9, 2016

Founder and long-time chief executive of Asos (ASC) Nick Robertson has continued to slowly peel himself away from the business. He has already handed over the reins to Nick Beighton, who joined the company in 2009 as its chief financial officer, but has also recently sold a chunk of his shares in the online retailer .

IC TIP: Buy at 3533p

Mr Robertson sold more than 1.3 shares at a price of 3,525p, which generated around £46m in sale proceeds. But the move shouldn't rattle investors' nerves given that he retains a 6.6 per cent stake in the company and remains a non-executive director.

 

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Alecto Minerals *Mark Jones (ce)01 Jun 16      12,500,000              0.08             10,000         25,750,000 0.577
Be Heard  Peter Scott (ch)27 May 16          645,161              3.10             20,000         16,644,776 2.552
Be Heard  Rodger Sargent26 May 16        2,419,355              3.10             75,000          8,151,355 1.250
BlackRock World Mining Trust ΩIan Cockerill (ch)27 May 16              8,653          229.80             19,885               36,789 0.021
British Land Co Aubrey Adams01 Jun 16            10,000               730             73,000               30,000 0.003
Caledonia Investments ♥William Wyatt (ce)26 May 16              1,000            2,410             24,100          1,084,654 1.959
Capital & Regional ♥ Louis Norval31 May 16        2,000,000                 60         1,200,000       133,960,303 19.143
Dods  Sir William Wells26 May 16          400,000            11.75             47,000          2,472,000 0.726
Electra Private Equity Edward Bramson (ce)26 May 16            42,719            3,794         1,620,759         11,420,493 28.359
Greka Engineering & Technology ♥ Randeep Grewal (ch & ce)01 Jun 16        1,250,000              0.80             10,000       359,701,230 87.813
Greka Engineering & Technology ♥ Randeep Grewal (ch & ce)26 May 16        1,278,669              0.80             10,229       357,849,230 87.361
Gresham Computing ♥MME Royde26 May 16            60,000            99.33             59,600          7,067,664 11.170
Harworth  Andrew Cunningham01 Jun 16            15,757            95.19             14,999               15,757 0.005
Homeserve Mark Morris26 May 16            25,862          488.40           126,310               60,093 0.020
Hostelworld  Andy McCue31 May 16            25,000          181.50             45,375               25,000 0.026
Hostelworld  Feargal Mooney (ce)27 May 16            84,000          180.25           151,410             240,033 0.251
HSBC Holdings Dr. Joachim Faber31 May 16            20,827          449.52             93,622               66,605 <0.001
Ithaca Energy IncJack Lee (ch)30 May 16            16,900            65.49             11,068          1,649,500 0.401
Ithaca Energy IncJack Lee (ch)27 May 16            82,600            65.59             54,174          1,632,600 0.397
Marshall Motor Holdings Daksha Gupta (ce)26 May 16              7,700          193.80             14,923             701,210 0.908
Marshall Motor Holdings ♥Daksha Gupta (ce)26 May 16              7,700          193.80             14,923             708,910 0.918
Minds + Machines  Guy Elliott (ch)26 May 16          300,000                 10             30,000         23,300,000 3.080
Porta Communications ♥Bob Morton (ch)26 May 16        1,500,000              5.75             86,250         44,436,318 15.922
Primary Health Properties Nicholas Wiles26 May 16            25,000          106.50             26,626               25,000 0.004
R E A Holdings MA Parry01 Jun 16              5,325               285             15,176               31,147 0.085
R E A Holdings ♥MA Parry01 Jun 16              6,196               285             17,659               37,343 0.102
Restaurant Group (The) Graham Clemett01 Jun 16            14,218               351             49,905               14,218 0.007
Sinclair Pharma Jean-Charles Tschudin27 May 16            97,000            36.25             35,163          3,350,140 0.674
St Ives Nigel Pocklington31 May 16            10,000          100.25             10,025               10,000 0.007
Surgical Innovations  Nigel Rogers (ch)26 May 16        1,140,000              1.75             19,950          2,905,273 0.596
Surgical Innovations  Paul Hardy26 May 16        1,140,000              1.75             19,950          2,913,973 0.598
Telit Communications Enrico Testa (ch)27 May 16          100,000          226.50           226,500          1,155,500 1.006
Treatt Daemmon Reeve (ce)26 May 16              8,103               187             15,153             152,435 0.289
Vesuvius Douglas Hurt31 May 16              9,000          347.17             31,246                 9,000 0.003
Vesuvius ♥Douglas Hurt31 May 16              9,000          347.17             31,246               18,000 0.007
Witan Investment Trust RW Boyle27 May 16              2,067          732.78             15,147               54,729 0.030

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
ASOS Nicholas Robertson26 May 16        1,305,000            3,525       46,001,250          5,496,414 6.588
Centamin Josef El-Raghy (ch)31 May 16      12,595,714                 98       12,343,800         58,849,372 5.108
Daily Mail and General Trust  K J Beatty27 May 16            36,057          667.58           240,708               95,926 0.028
RTC  Andy Pendlebury (ce)01 Jun 16          252,500                 70           176,750             798,663 5.570
RTC  Sarah Dye (fd)01 Jun 16          100,000                 69             69,000               43,000 0.300
Zoopla Property ♥ †Robin Klein27 May 16            14,411          322.12             46,421             512,052 0.123
Zoopla Property ♥ †Robin Klein27 May 16            46,358          320.40           148,531             465,694 0.111
Zoopla Property ♥ †Robin Klein31 May 16            48,814          329.01           160,601             416,880 0.100
Zoopla Property ♥ †Robin Klein26 May 16          113,364          332.76           377,230             526,463 0.126

*Placing/tender/open offer ♥ spouse/connected party Ω ISA/SIPP/Trust/ † Local Globe IV (transferee) and Kilda Inv's (transferor), both connected persons of R Klein