Shopping mall landlord Intu Properties (INTU) recently announced a two-for-seven rights issue to raise a net £488m, and seasoned property investor John Whittaker will be taking up the offer for the shares he already owns. In addition to these, Mr Whittaker, who is deputy chairman of Intu, also bought 2.7m shares between the 20th and 25th of March, and a further 1.4m on the 27th and 28th of March at around 308p a share.
This takes Mr Whittaker’s interest in Intu, which is held through various companies (including Peel Group), to 24.1 per cent - although this is before the dilutive effect of the rights issue. Peel Group can increase its stake to 25 per cent after a capping deal expired in January. The limit was put in place as part of Peel's sale in 2011 of the Trafford Centre near Manchester to Capital Shopping Centres, which was later rebranded as Intu. Proceeds from the rights issue will be used to fund a string of regional shopping centres for £868m. Analysts at Deutsche Bank have downgraded their estimate of end-2013 net asset value from 380p to 335p.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Abcam ♥ | Dr Jonathan Milner (ce) | 21 Mar 14 | 12,450 | 396.82 | 49,404 | 27,072,805 | 13.553 |
| Abcam ♥ | Dr Jonathan Milner (ce) | 25 Mar 14 | 12,570 | 389.5 | 48,960 | 27,085,375 | 13.560 |
| AstraZeneca | Prof Genevieve Berger | 25 Mar 14 | 460 | 3,896 | 17,922 | 1,790 | <0.001 |
| CA Sperati * | Oliver Fattal | 24 Mar 14 | 932,200 | 4 | 37,288 | 2,292,200 | 11.887 |
| Cairn Energy | Jann Brown | 24 Mar 14 | 16,490 | 150.4 | 24,801 | 312,040 | 0.054 |
| Cairn Energy | Dr Mike Watts | 24 Mar 14 | 65,965 | 150.4 | 99,211 | 1,230,897 | 0.214 |
| Cairn Energy | Sir Bill Gammell (ch) | 26 Mar 14 | 59,800 | 167.22 | 99,998 | 656,131 | 0.114 |
| Cairn Energy | Simon Thomson (ce) | 24 Mar 14 | 65,965 | 150.4 | 99,211 | 453,348 | 0.079 |
| Circle Oil | Stephen Jenkins (ch) | 24 Mar 14 | 421,177 | 24.4 | 102,767 | 421,177 | 0.075 |
| Circle Oil | Prof Chris Green (ce) | 24 Mar 14 | 50,000 | 24.3 | 12,150 | 50,000 | 0.009 |
| Circle Oil | Dr. Keith Morris | 24 Mar 14 | 60,000 | 24.3 | 14,580 | 60,000 | 0.011 |
| Circle Oil | Nicholas Clayton | 24 Mar 14 | 105,000 | 23.76 | 24,948 | 325,000 | 0.058 |
| Crest Nicholson Holdings | Jim Pettigrew | 21 Mar 14 | 25,000 | 383.04 | 95,759 | 25,000 | 0.010 |
| EKF Diagnostics Holdings * | Paul Foulger (fd) | 26 Mar 14 | 28,571 | 35 | 10,000 | 3,438,589 | 1.195 |
| EKF Diagnostics Holdings * | Richard Evans | 26 Mar 14 | 57,142 | 35 | 20,000 | 153,842 | 0.053 |
| EKF Diagnostics Holdings * | David Evans (ch) | 26 Mar 14 | 71,428 | 35 | 25,000 | 1,605,753 | 0.558 |
| EKF Diagnostics Holdings * | Julian Baines (ce) | 26 Mar 14 | 71,428 | 35 | 25,000 | 1,621,955 | 0.564 |
| EKF Diagnostics Holdings * | Adam Reynolds | 26 Mar 14 | 28,571 | 35 | 10,000 | 3,204,724 | 1.113 |
| Fisher (James) & Sons | Charles Rice (ch) | 21 Mar 14 | 1,281 | 1,530 | 19,599 | 13,503 | 0.027 |
| Informa | Gareth Bullock | 26 Mar 14 | 10,000 | 515.5 | 51,550 | 10,000 | 0.002 |
| Intu Properties | John Whittaker | 25 Mar 14 | 350,000 | 308.14 | 1,078,501 | 194,452,358 | 19.967 |
| Intu Properties | John Whittaker | 25 Mar 14 | 350,000 | 307.84 | 1,077,451 | 194,802,358 | 20.003 |
| Intu Properties | John Whittaker | 25 Mar 14 | 2,000,000 | 306.48 | 6,129,560 | 194,102,358 | 19.932 |
| Just Retirement ♥ | Arthur Owen | 20 Mar 14 | 48,138 | 155 | 74,614 | 311,679 | 0.062 |
| Kenmare Resources | Steven McTiernan | 20 Mar 14 | 209,000 | 14.35 | 29,992 | 228,990 | 0.008 |
| Kofax | Greg Lock (ch) | 24 Mar 14 | 50,000 | 476 | 238,000 | 750,000 | 0.814 |
| Lookers | Nigel McMinn | 20 Mar 14 | 35,000 | 147 | 51,450 | 35,000 | 0.009 |
| Majestic Wine ♥ | Justin Apthorp | 20 Mar 14 | 50,000 | 410 | 205,000 | 545,673 | 0.831 |
| Moneysupermarket.com | Bruce Carnegie-Brown | 20 Mar 14 | 30,000 | 178.01 | 53,403 | 50,000 | 0.009 |
| Norcros | Martin Towers (ch) | 26 Mar 14 | 75,000 | 20.37 | 15,278 | 788,635 | 0.134 |
| Ophir Energy | Ronald Blakely | 21 Mar 14 | 12,000 | 255.93 | 30,712 | 47,000 | 0.008 |
| Oxford Pharmascience | David Norwood (ch) | 25 Mar 14 | 1,000,000 | 4.3 | 43,000 | 105,938,633 | 10.620 |
| Pearson † | Glen Moreno (ch) | 24 Mar 14 | 50,000 | 1,016.37 | 508,187 | 200,000 | 0.024 |
| Resolution | Tim Tookey (cfo) | 24 Mar 14 | 20,000 | 315.14 | 63,027 | 163,832 | 0.012 |
| Resolution | Andy Briggs (ce) | 24 Mar 14 | 47,000 | 313.84 | 147,504 | 400,695 | 0.028 |
| Ryanair Holdings | Louise Phelan | 20 Mar 14 | 7,000 | 712.19 | 49,853 | 7,000 | 0.001 |
| SABMiller | JA Manzoni | 25 Mar 14 | 612 | 2,933.45 | 17,953 | 7,434 | <0.001 |
| Sula Iron & Gold | MG Wood (fd) | 24 Mar 14 | 444,444 | 2.25 | 10,000 | 444,444 | 0.158 |
| Tarsus | Robert Ware | 24 Mar 14 | 11,620 | 199.25 | 23,153 | 295,835 | 0.293 |
| Town Centre Securities | Richard Lewis | 24 Mar 14 | 8,000 | 234 | 18,720 | 330,399 | 0.621 |
| Town Centre Securities ♥ | Edward Ziff (ch & ce) | 24 Mar 14 | 42,000 | 234 | 98,280 | 5,895,920 | 11.090 |
| UNITE * | Joe Lister (cfo) | 26 Mar 14 | 4,875 | 410 | 19,988 | 274,737 | 0.137 |
| UNITE * | Richard Walker | 26 Mar 14 | 5,952 | 410 | 24,403 | 15,952 | 0.008 |
| Wincanton | Martin Sawkins | 24 Mar 14 | 9,532 | 119.90 | 11,429 | 9,532 | 0.008 |
| Wm Morrison Supermarkets | Trevor Strain (fd) | 26 Mar 14 | 23,503 | 211.15 | 49,627 | 39,341 | 0.002 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Beazley | Clive Washbourn | 20 Mar 14 | 164,235 | 262.9 | 431,774 | 446,096 | 0.086 |
| EKF Diagnostics Holdings | GJ Hall | 26 Mar 14 | 1,439,282 | 35 | 503,749 | 0 | 0.000 |
| Jardine Lloyd Thompson | Mark Drummond-Brady | 20 Mar 14 | 4,637 | 1,039 | 48,178 | 45,617 | 0.021 |
| Kerry | Gerry Behan | 26 Mar 14 | 3,000 | 5,490 | 164,700 | 47,335 | 0.027 |
| Pinnacle Technology | Nicholas Scallan (ce) | 26 Mar 14 | 96,009 | 12 | 11,521 | 101,725 | 0.272 |
| Quadrise Fuels International | Michael Duckels | 24 Mar 14 | 150,000 | 35.17 | 52,752 | 3,817,460 | 0.474 |
| RTC | John White | 20 Mar 14 | 125,000 | 28.5 | 35,625 | 2,137,986 | 15.823 |
| Shore Capital | Howard Shore (ch) | 21 Mar 14 | 250,000 | 400 | 1,000,000 | 9,929,369 | 41.092 |
| * placing/tender/open offer ♥ spouse/connected party † depositary receipts | |||||||
