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Regus chief sells more than £100m in shares

The chief executive of the support services group has offloaded a sizeable equity holding despite this year's price contraction
September 29, 2016

Regus (RGU) enjoyed a steep rise in its share price during 2015, as demand for its flexible workspaces soared. However, the shares are down almost a quarter so far this year, falling sharply after management revealed it was taking a more cautious approach to investing in some markets. Certainly, trading has been rockier for the group during 2016. While constant-currency sales grew 10 per cent during the first half, management reported softening demand in some market segments. Prices have been lowered over the short term to build occupancy levels, although margins have held up.

IC TIP: Hold at 263p

Despite the pullback in market value, chief executive Mark Dixon took the decision to offload £102m-worth of shares in the support services group. It is worth pointing out that Mr Dixon has a track record of selling sizeable equity stakes, including the sale of around 10 per cent of his holding in 2009. He still has a 28 per cent stake in the workspace provider following this most recent sale, which should further boost liquidity in the stock.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
AEW UK REIT Bim Sandhu16 Sep 1650,0009748,500450,0000.375
AEW UK REIT♥Bim Sandhu16 Sep 16100,0009797,000550,0000.458
AEW UK REIT♥James Hyslop16 Sep 1650,0009748,500150,0000.125
Aminex Jay Bhattacherjee (ce)15 Sep 16534,5192.1811,66245,569,9771.311
Avon Rubber Dr Peterus Vervaat19 Sep 161,000990.469,9052,0000.006
BATM Advanced Communications Dr Zvi Marom (ce)21 Sep 16300,00016.62549,87596,694,50023.985
Berkeley GroupAdrian Li16 Sep 1610,0002,570257,00020,0000.014
CharacterDavid Harris20 Sep 164,59743519,99756,0000.265
CharacterMark Dowding (cfo)20 Sep 1610,00043543,50083,8410.397
Compass  Stefan Bomhard20 Sep 166,1001,48690,6466,1000.000
Craneware Keith Neilson (ce)19 Sep 165,3881,20064,6563,509,51813.071
Frenkel Topping  Jason Granite (ch)15 Sep 16723,47650361,73813,393,40417.463
Gama Aviation Nigel Payne19 Sep 1615,00016524,75015,0000.034
Green REIT Jerome Kennedy19 Sep 16140,000144201,600150,0000.022
Harwood Wealth Management  Christopher Mills21 Sep 168,14812510,1858,1480.015
Headlam  Steve Wilson (ce)15 Sep 1650,000447.125223,563572,0650.676
Hikma Pharmaceuticals Mazen Darwazah21 Sep 1650,0002,1381,069,0007,792,9563.248
Hikma Pharmaceuticals Said Darwazah (ch & ce)21 Sep 1650,0002,1381,069,00013,862,4685.778
Hikma Pharmaceuticals Mohammed A K S Al-Husry21 Sep 1650,0002,1381,069,0006,317,4502.633
Hikma Pharmaceuticals♥Mazen Darwazah15 Sep 1670,2512,1221,490,7267,692,9563.206
Hikma Pharmaceuticals♥Mazen Darwazah16 Sep 1650,0002,1191,059,5007,742,9563.227
Hikma Pharmaceuticals♥Said Darwazah (ch & ce)15 Sep 1670,2512,1221,490,72613,762,4685.736
Hikma Pharmaceuticals ♥Said Darwazah (ch & ce)16 Sep 1650,0002,1191,059,50013,812,4685.757
Hikma Pharmaceuticals ♥Mohammed Al-Husry15 Sep 1670,2512,1221,490,7266,217,4502.591
Hikma Pharmaceuticals♥Mohammed Al-Husry16 Sep 1650,0002,1191,059,5006,267,4502.612
Inspirit Energy John Gunn (ch & ce)16 Sep 164,000,0000.2610,520374,029,58039.926
McBride John Coleman (ch)21 Sep 1640,000186.574,60040,0000.022
McColl's Retail  Dr Angus Porter21 Sep 165,81417410,1165,8140.005
New India Investment Trust Michael Hughes 19 Sep 163,905386.515,0933,9050.007
Norman Broadbent*Brian Stephens20 Sep 16105,2639.510,000117,9550.283
Norman Broadbent*James Webber (cfo)20 Sep 16105,2639.510,000145,2630.349
Norman Broadbent*Mike Brennan (ce)20 Sep 16526,3159.550,000616,3151.480
Polypipe  Ronald Marsh (ch)19 Sep 1675,000278.85209,138175,0000.088
Prime People John Lewis 19 Sep 1625,25010025,2501,062,0008.652
Real Estate Investors Marcus Daly (fd)16 Sep 1620,00058.511,7001,540,0000.826
Real Estate Investors Paul Bassi (ce)19 Sep 1620,00058.511,70010,020,0005.375
Ruffer Investment Co Christopher Spencer19 Sep 1613,150226.529,78527,3070.018
Ruffer Investment Co Sarah Evans19 Sep 1610,000226.7222,67210,0000.006
Satellite Solutions Worldwide  Andrew Walwyn (ce)16 Sep 16322,5817.7525,00049,384,5729.211
Satellite Solutions Worldwide  Frank Waters (cfo)16 Sep 16322,5817.7525,0004,155,3510.775
Satellite Solutions Worldwide  Rodger Sargent16 Sep 16322,5817.7525,0009,487,6681.770
Satellite Solutions Worldwide  Michael Tobin (ch)16 Sep 16130,0007.7510,0751,126,6660.210
Spire Healthcare  John Gildersleeve21 Sep 1663,700389.81248,30768,4610.017
Spire Healthcare♥ John Gildersleeve21 Sep 1657,300389.81223,360125,7610.031
Tungsten David Benello21 Sep 1635,00061.2521,43870,0000.056
TungstenDavid Benello21 Sep 1635,0006121,350105,0000.083
TungstenDavid Benello21 Sep 1635,00060.7521,26335,0000.028
VerseonEniko Fodor (cfo)19 Sep 166,0001619,66031,008,48620.482
VPC Specialty Lending Investments♥Richard Levy19 Sep 1678,3008163,423878,3000.230
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Abcam♥Dr Jonathan Milner19 Sep 16150,000803.881,205,82022,967,00411.324
Abcam♥Dr Jonathan Milner19 Sep 16160,000803.881,286,20823,117,00411.398
Abcam♥Dr Jonathan Milner19 Sep 161,000,370803.888,041,77421,994,93410.845
Ashmore  Tom Shippey (fd)19 Sep 16215,780341735,810120,0000.017
Fisher (James) & Sons♥ NP Henry (ce)21 Sep 167,9891,628130,061194,9620.388
Frenkel Topping  Richard Fraser15 Sep 162,700,476501,350,2381,254,3611.636
Gulf Marine Services Duncan Anderson (ce)19 Sep 16600,00050300,0002,014,6220.577
GymPaul Gilbert15 Sep 16332,713210698,697887,7760.693
Onesavings Bank Andy Golding (ce)15 Sep 16100,000266.28266,2801,900,0000.782
Onesavings Bank Andy Golding (ce)20 Sep 16112,470266.28299,4851,650,0000.679
Onesavings Bank Andy Golding (ce)19 Sep 1685,395265.11226,3911,762,4700.725
Onesavings Bank Andy Golding (ce)16 Sep 1652,135265.01138,1631,847,8650.760
Regus * Mark Dixon (ce)19 Sep 1637,000,000275101,750,000257,701,87427.741
SThree Justin Hughes15 Sep 1640,000255102,000555,0700.431
Zoopla Property  Alex Chesterman (ce)19 Sep 164,250,00032513,812,5008,519,6322.038

*Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust