Estate-agency group Countrywide (CWD) may be well placed to profit from a hotter housing market, but its shares have fallen from a peak of 700p earlier this year to 439p. That's not so far from the 350p share price achieved at the group's flotation in March 2013.
But that didn't stop non-executive chairman Grenville Turner nearly halving his stake in the company with the sale of 880,000 shares. Mr Turner led the IPO process, but stepped down as chief executive earlier this year. Mirroring his increasingly detached role, the share sale is part of a "rebalancing of his personal portfolio and family trusts", according to the market notice.
Separately, shareholders are faced with a decision on 8 January that could decide the future of the group's share buy-back programme, which was announced in October. It seems Countrywide's previous owner Oaktree Capital, a Los Angeles private equity firm, does not want to participate in any buy-back scheme. But as it still holds a 29.6 per cent stake, any reduction in the number of shares in issue could technically trigger a mandatory offer by Oaktree, because its shareholding would increase to 30 per cent. However, the Takeover Panel has agreed to a waiver of Oaktree's obligations, subject to shareholder approval.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Aberdeen Asset Management | Simon Troughton | 04 Dec 14 | 20,000 | 462 | 92,400 | 60,000 | 0.005 |
Access Intelligence | Michael Jackson (ch) | 09 Dec 14 | 700,000 | 3.5 | 24,500 | 25,865,858 | 11.002 |
Bank of Georgia Holdings | Alasdair Breach | 09 Dec 14 | 2,121 | 2,064 | 43,777 | 16,400 | 0.042 |
Bank of Georgia Holdings | Neil Janin (ch) | 05 Dec 14 | 20,000 | 2,087 | 417,400 | 45,729 | 0.116 |
BATM Advanced Communications | Dr Gideon Chitayat (ch) | 10 Dec 14 | 600,000 | 15.375 | 92,250 | 600,000 | 0.149 |
Better Capital PCC | Richard Battey | 08 Dec 14 | 30,000 | 86 | 25,800 | 60,000 | 0.029 |
Chesnara * | Mike Evans | 05 Dec 14 | 6,452 | 310 | 20,001 | 6,452 | 0.005 |
Chesnara * | Graham Kettleborough (ce) | 05 Dec 14 | 7,322 | 310 | 22,698 | 80,612 | 0.064 |
Collagen Solutions * | David Evans (ch) | 10 Dec 14 | 7,142,856 | 7 | 500,000 | 12,638,730 | 7.392 |
Collagen Solutions * | Gill Black ((cfo & cs) | 10 Dec 14 | 357,143 | 7 | 25,000 | 357,143 | 0.209 |
Collagen Solutions * | Dr. Kevin Wilson | 10 Dec 14 | 714,286 | 7 | 50,000 | 1,792,296 | 1.048 |
Collagen Solutions * | Dr. Stewart White (ce) | 10 Dec 14 | 357,143 | 7 | 25,000 | 3,464,327 | 2.026 |
Collagen Solutions * | Malcolm Gillies | 10 Dec 14 | 714,286 | 7 | 50,000 | 1,214,286 | 0.710 |
Conygar Investment Company (The) | Preston Rabl | 05 Dec 14 | 140,000 | 180 | 252,000 | 1,485,480 | 1.768 |
Corero Network Security * | Jens Montanana (ch) | 09 Dec 14 | 11,746,667 | 15 | 1,762,000 | 45,690,354 | 39.512 |
Egdon Resources † | Mark Abbott † | 09 Dec 14 | 200,000 | 12.45 | 24,900 | 7,663,824 | 3.462 |
Glanbia | Patrick Coveney | 08 Dec 14 | 3,900 | 1,267.5 | 49,433 | 3,900 | 0.001 |
Grainger | Ian Coull | 08 Dec 14 | 25,000 | 200.5 | 50,125 | 25,000 | 0.006 |
Independent News & Media | Len O'Hagan | 08 Dec 14 | 110,000 | 13.5 | 14,850 | 111,993 | 0.008 |
Ironveld | Nick Harrison | 08 Dec 14 | 200,000 | 6.2 | 12,400 | 11,323,581 | 3.793 |
Ironveld ♥ | Giles Clarke (ch) | 10 Dec 14 | 150,000 | 7 | 10,500 | 16,252,099 | 5.444 |
Ironveld ♥ | Giles Clarke (ch) | 08 Dec 14 | 175,000 | 6.18 | 10,815 | 16,102,099 | 5.394 |
Ironveld ♥ | Nick Harrison | 10 Dec 14 | 150,000 | 7 | 10,500 | 11,473,581 | 3.843 |
ITE | Marco Sodi (ch) | 08 Dec 14 | 18,904 | 155 | 29,301 | 150,000 | 0.060 |
Ithaca Energy | Jack Lee (ch) | 05 Dec 14 | 200,000 | 64.35953 | 128,719 | 1,400,000 | 0.425 |
Ithaca Energy | Les Thomas (ce) | 05 Dec 14 | 200,000 | 61 | 122,000 | 204,014 | 0.062 |
Jubilee Platinum | Colin Bird (ch) | 10 Dec 14 | 1,000,000 | 1.25 | 12,500 | 6,517,991 | 1.023 |
KBC Advanced Technologies ♥ | Oliver Scott | 05 Dec 14 | 50,000 | 86.9 | 43,450 | 9,570,928 | 11.739 |
KBC Advanced Technologies ♥ | Oliver Scott | 04 Dec 14 | 50,000 | 86.4 | 43,200 | 9,520,928 | 11.672 |
London Capital Holdings | Charles-Henri Sabet (ch) | 10 Dec 14 | 1,000,000 | 33 | 330,000 | 1,650,000 | 2.959 |
Majedie Investments | Paul Gadd | 05 Dec 14 | 5,000 | 242 | 12,100 | 40,000 | 0.076 |
Majedie Investments | Paul Gadd | 05 Dec 14 | 5,000 | 237 | 11,850 | 35,000 | 0.067 |
Nord Gold NV ** | Alexy Mordashov | 05 Dec 14 | 3,587,942 | 150 | 5,381,913 | 326,258,808 | 86.284 |
Patagonia Gold * | William Humphries * | 09 Dec 14 | 2,222,222 | 4.5 | 100,000 | 30,892,699 | 2.952 |
Patagonia Gold * | Carlos Miguens (ch) | 09 Dec 14 | 77,848,548 | 4.5 | 3,503,185 | 211,187,533 | 20.178 |
Patagonia Gold * | Gonzalo Tanoira * | 09 Dec 14 | 1,415,428 | 4.5 | 63,694 | 10,191,035 | 0.974 |
Proxama * | Gavin Breeze | 10 Dec 14 | 4,000,000 | 2.5 | 100,000 | 150,006,651 | 14.729 |
Proxama * | David Bailey (ch) | 10 Dec 14 | 2,000,000 | 2.5 | 50,000 | 13,324,126 | 1.308 |
Qannas Investments | Jassim Alseddiqi Alansaari | 04 Dec 14 | 31,250 | 90 | 28,125 | 7,827,146 | 10.213 |
Reckitt Benckiser | Adrian Hennah (cfo) | 04 Dec 14 | 13,222 | 5,177 | 684,503 | 26,851 | 0.004 |
Richoux | Salvatore Diliberto (ce) | 04 Dec 14 | 200,000 | 15 | 30,000 | 19,658,672 | 21.364 |
Sage Group (The) | Stephen Kelly (ce) | 04 Dec 14 | 78,646 | 442.75 | 348,205 | 146,146 | 0.014 |
Seeing Machines * | James Walker (cfo) | 05 Dec 14 | 280,000 | 5.5 | 15,400 | 3,291,532 | 0.354 |
Servoca | Andy Church (ce) | 08 Dec 14 | 115,274 | 17.35 | 20,000 | 6,128,797 | 4.896 |
Smith (DS) | Kathleen O'Donovan | 05 Dec 14 | 10,471 | 305.6 | 31,999 | 10,471 | 0.001 |
Smith (DS) | Louise Smalley | 05 Dec 14 | 14,615 | 305.6 | 44,663 | 14,615 | 0.002 |
Symphony International Holdings | Anil Thadani | 09 Dec 14 | 300,000 | 82 | 246,000 | 57,117,991 | 10.910 |
Symphony International Holdings | Anil Thadani | 10 Dec 14 | 100,182 | 82 | 82,149 | 57,218,173 | 10.929 |
Vedanta Resources | Tom Albanese (ce) | 10 Dec 14 | 9,500 | 647.5 | 61,513 | 82,700 | 0.031 |
Weatherly International * | Charilaos Stavrakis | 08 Dec 14 | 421,052 | 2.925 | 12,316 | 1,421,052 | 0.183 |
Weatherly International * | Dr Wolf Martinick | 08 Dec 14 | 3,720,000 | 2.925 | 108,810 | 22,983,200 | 2.957 |
Weatherly International * | John Bryant (ch) | 08 Dec 14 | 341,880 | 2.925 | 10,000 | 739,380 | 0.095 |
Weatherly International * | Rod Webster (ce) | 08 Dec 14 | 928,000 | 2.925 | 27,144 | 28,271,800 | 3.637 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
BATM Advanced Communications | Peter Sheldon | 10 Dec 14 | 600,000 | 15.375 | 92,250 | 150,000 | 0.037 |
Betfair | Alexander Gersh (cfo) | 08 Dec 14 | 20,000 | 1,460 | 292,000 | 0 | 0.000 |
British Polythene Industries ♥ | John Langlands (ce) | 10 Dec 14 | 35,000 | 615 | 215,250 | 283,683 | 1.047 |
Countrywide | Grenville Turner (ch) | 10 Dec 14 | 880,000 | 446 | 3,924,800 | 1,071,524 | 0.495 |
CSR | Ron Mackintosh (ch) | 09 Dec 14 | 6,115 | 845.66 | 51,712 | 106,000 | 0.064 |
Helical Bar | Gerald Kaye | 05 Dec 14 | 270,386 | 354.17 | 957,626 | 1,126,367 | 0.953 |
Helical Bar | Matthew Bonning-Snook | 05 Dec 14 | 123,605 | 354.17 | 437,772 | 154,429 | 0.131 |
Helical Bar | Michael Slade (ce) | 05 Dec 14 | 309,013 | 354.17 | 1,094,431 | 12,739,807 | 10.780 |
Helical Bar | Nigel McNair Scott (ch) | 05 Dec 14 | 181,545 | 354.17 | 642,978 | 2,674,396 | 2.263 |
Helical Bar | Tim Murphy | 05 Dec 14 | 35,451 | 354.17 | 125,557 | 156,806 | 0.133 |
Nord Gold NV ** | Nikolai Zelenskiy (ce) | 05 Dec 14 | 2,511,559 | 150 | 3,767,339 | 0 | 0.000 |
Onesavings Bank | Stephan Wilcke | 05 Dec 14 | 826,000 | 201 | 1,660,260 | 2,999,711 | 1.234 |
Rio Tinto | Ann Godbehere | 09 Dec 14 | 2,111 | 2,847.56 | 60,112 | 6,450 | <0.001 |
* placing/tender/open offer ♥ spouse/connected party † SIPP ** GDRs |