Michael Barnes, chief executive of Signet Jewelers , unloaded a total of 66,193 shares in the Bermuda-based jewellery retailer earlier this month. Two separate sales generated just over £4m for Mr Barnes, and were made following the expiration of a waiting period for antitrust legislation that satisfied one of the key conditions of Signet's $1.4bn (£833m) acquisition of US rival jeweller Zale Corp.
The sales seem well timed, given that Signet had just reported sales of $1.56bn for the all-important holiday season, up 3 per cent from the same period last year. Unlike many other US retailers, Signet also delivered bullish first-quarter guidance. Mr Barnes's deals were struck at a point when the share price had risen by 40 per cent over the previous 12 months.
However, it's arguable that the deal to acquire Zale Corp wasn't quite as timely: a year prior to the announcement, shares in Zale were changing hands for around $4 apiece - $17 shy of the agreed merger price.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Abcam ♥ | Dr Jonathan Milner (ce) | 10 Apr 14 | 259,000 | 381.95 | 989,251 | 27,362,375 | 13.654 |
Abcam | Mike Redmond | 17 Apr 14 | 10,150 | 379 | 38,469 | 102,274 | 0.040 |
Abcam ♥ | Mike Redmond | 17 Apr 14 | 3,575 | 379 | 13,549 | 88,725 | 0.040 |
Baobab Resources | Jeremy Dowler (ch) | 11 Apr 14 | 100,000 | 10.98 | 10,983 | 8,840,169 | 2.582 |
China Growth Opportunities | Nicholas Brooke | 14 Apr 14 | 13,251,920 | 0.5 | 66,260 | 13,251,920 | 18.931 |
Elementis | Andrew Duff | 15 Apr 14 | 50,000 | 279.53 | 139,765 | 50,000 | 0.011 |
FastJet * | Ed Winter (ce & ch) | 15 Apr 14 | 31,250,000 | 1.6 | 500,000 | 31,300,000 | 2.242 |
FastJet * | Ed Winter (ce & ch) | 15 Apr 14 | 31,250,000 | 1.6 | 500,000 | 31,300,000 | 5.093 |
FastJet * | Angus Saunders (fd) | 15 Apr 14 | 6,250,000 | 1.6 | 100,000 | 6,250,000 | 0.448 |
Frontier Developments | David Gammon (ch) | 16 Apr 14 | 25,000 | 260 | 65,000 | 254,720 | 0.813 |
Global Energy Development | David Quint | 15 Apr 14 | 15,000 | 68.5 | 10,275 | 135,000 | 0.374 |
Greenko | John Rennocks | 14 Apr 14 | 7,396 | 167.5 | 12,388 | 44,521 | 0.030 |
Haydale Graphene Industries | John Knowles (ch) | 16 Apr 14 | 13,000 | 185 | 24,050 | 72,454 | 0.644 |
Henderson Global Trust | RJ Hills | 10 Apr 14 | 10,000 | 352 | 35,200 | 25,000 | 0.063 |
HSBC Holdings | Rachel Lomax | 10 Apr 14 | 8,000 | 621.5 | 49,720 | 8,000 | <0.001 |
JPMorgan Mid Cap Investment Trust | RNL Huntingford | 15 Apr 14 | 1,500 | 800 | 12,000 | 1,500 | 0.006 |
Lookers | Nigel McMinn | 11 Apr 14 | 75,000 | 149 | 111,750 | 110,000 | 0.028 |
Micro Focus International | Kevin Loosemore (ch) | 16 Apr 14 | 7,549 | 804.34 | 60,720 | 736,289 | 0.531 |
Micro Focus International ♥ | Kevin Loosemore (ch) | 16 Apr 14 | 3,630 | 805.73 | 29,248 | 739,919 | 0.533 |
Monitise | Peter Ayliffe (ch) | 11 Apr 14 | 250,000 | 57.13 | 142,825 | 250,000 | 0.014 |
Namibian Resources * | Brian Moritz (ch) | 15 Apr 14 | 5,760,000 | 1.25 | 72,000 | 18,040,330 | 24.571 |
Nasstar | Nigel Redwood (ce) | 15 Apr 14 | 309,735 | 6.75 | 20,907 | 10,475,430 | 2.962 |
Nasstar | David Redwood | 15 Apr 14 | 309,735 | 6.75 | 20,907 | 10,112,193 | 2.859 |
New Europe Property Investments | JN Zidel | 14 Apr 14 | 6,615 | 519.95 | 34,395 | 2,220,817 | 0.996 |
New Europe Property Investments ♥ | A Morar | 14 Apr 14 | 4,661 | 505 | 23,538 | 1,271,292 | 0.570 |
Polar Capital Technology Trust | P Hames | 15 Apr 14 | 4,000 | 436.93 | 17,477 | 10,000 | 0.008 |
Real Estate Investors * | WP Wyatt | 14 Apr 14 | 50,000 | 49.5 | 24,750 | 98,500 | 0.088 |
Real Estate Investors * | Paul Bassi (ce) | 14 Apr 14 | 150,000 | 49.5 | 74,250 | 9,200,000 | 8.257 |
Real Estate Investors * | John Crabtree (ch) | 14 Apr 14 | 50,000 | 49.5 | 24,750 | 138,000 | 0.124 |
Real Estate Investors * | MHP Daly (fd & cs) | 14 Apr 14 | 150,000 | 49.5 | 74,250 | 885,000 | 0.794 |
RM2 International SA | Jan Dekker | 14 Apr 14 | 176,000 | 70 | 123,200 | 2,300,000 | 0.720 |
Science in Sport * | Dawson Buck | 15 Apr 14 | 111,112 | 45 | 50,000 | 418,677 | 1.700 |
Science in Sport * | Stephen Moon (ce) | 15 Apr 14 | 222,223 | 45 | 100,000 | 421,330 | 1.711 |
Sinclair IS Pharma | Stuart Swanson | 16 Apr 14 | 35,000 | 30.5 | 10,675 | 4,232,854 | 0.973 |
St Modwen Properties | Lesley James | 15 Apr 14 | 10,000 | 366.4 | 36,640 | 20,000 | 0.009 |
Stock Spirits | Andrew Cripps | 10 Apr 14 | 20,000 | 286 | 57,200 | 20,000 | 0.010 |
Tungsten Corporation | Edmund Truell (ce) | 14 Apr 14 | 5,000 | 218.25 | 10,913 | 14,824,739 | 14.825 |
Tungsten Corporation ♥ | Edmund Truell (ce) | 11 Apr 14 | 57,055 | 217 | 123,809 | 14,819,739 | 14.820 |
Xchanging | David Bauernfeind (cfo) | 11 Apr 14 | 50,000 | 162.6 | 81,300 | 400,000 | 0.164 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Craneware | Neil Heywood | 10 Apr 14 | 9,000 | 541.5 | 48,735 | 96,356 | 0.357 |
Frontier Developments | David Braben (ce) | 16 Apr 14 | 1,600,000 | 250 | 4,000,000 | 15,894,380 | 50.731 |
Good Energy | Garry Peagam (fd) | 14 Apr 14 | 42,500 | 287.85 | 122,335 | 158,500 | 1.081 |
Marechale Capital | Jon Pither | 10 Apr 14 | 681,818 | 2 | 13,636 | 4,050,502 | 7.022 |
Mattioli Woods | Mark Smith | 15 Apr 14 | 5,434 | 446 | 24,236 | 13,425 | 0.067 |
Robert Walters | Robert Walters (ce) | 11 Apr 14 | 215,187 | 330 | 710,117 | 2,235,618 | 2.904 |
Robert Walters | Giles Daubeney (coo) | 11 Apr 14 | 215,186 | 330 | 710,114 | 1,582,333 | 2.055 |
Signet Jewelers | Michael Barnes (ce) | 12 Apr 14 | 16,998 | 6,064 | 1,030,824 | 223,984 | 0.279 |
Signet Jewelers | Michael Barnes (ce) | 16 Apr 14 | 49,195 | 6,055 | 2,978,894 | 174,789 | 0.218 |
* placing/tender/open offer ♥ spouse/connected party |