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.
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 | |||||||
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Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
AEW UK REIT | Bim Sandhu | 16 Sep 16 | 50,000 | 97 | 48,500 | 450,000 | 0.375 |
AEW UK REIT♥ | Bim Sandhu | 16 Sep 16 | 100,000 | 97 | 97,000 | 550,000 | 0.458 |
AEW UK REIT♥ | James Hyslop | 16 Sep 16 | 50,000 | 97 | 48,500 | 150,000 | 0.125 |
Aminex | Jay Bhattacherjee (ce) | 15 Sep 16 | 534,519 | 2.18 | 11,662 | 45,569,977 | 1.311 |
Avon Rubber | Dr Peterus Vervaat | 19 Sep 16 | 1,000 | 990.46 | 9,905 | 2,000 | 0.006 |
BATM Advanced Communications | Dr Zvi Marom (ce) | 21 Sep 16 | 300,000 | 16.625 | 49,875 | 96,694,500 | 23.985 |
Berkeley Group | Adrian Li | 16 Sep 16 | 10,000 | 2,570 | 257,000 | 20,000 | 0.014 |
Character | David Harris | 20 Sep 16 | 4,597 | 435 | 19,997 | 56,000 | 0.265 |
Character | Mark Dowding (cfo) | 20 Sep 16 | 10,000 | 435 | 43,500 | 83,841 | 0.397 |
Compass | Stefan Bomhard | 20 Sep 16 | 6,100 | 1,486 | 90,646 | 6,100 | 0.000 |
Craneware | Keith Neilson (ce) | 19 Sep 16 | 5,388 | 1,200 | 64,656 | 3,509,518 | 13.071 |
Frenkel Topping | Jason Granite (ch) | 15 Sep 16 | 723,476 | 50 | 361,738 | 13,393,404 | 17.463 |
Gama Aviation | Nigel Payne | 19 Sep 16 | 15,000 | 165 | 24,750 | 15,000 | 0.034 |
Green REIT | Jerome Kennedy | 19 Sep 16 | 140,000 | 144 | 201,600 | 150,000 | 0.022 |
Harwood Wealth Management | Christopher Mills | 21 Sep 16 | 8,148 | 125 | 10,185 | 8,148 | 0.015 |
Headlam | Steve Wilson (ce) | 15 Sep 16 | 50,000 | 447.125 | 223,563 | 572,065 | 0.676 |
Hikma Pharmaceuticals | Mazen Darwazah | 21 Sep 16 | 50,000 | 2,138 | 1,069,000 | 7,792,956 | 3.248 |
Hikma Pharmaceuticals | Said Darwazah (ch & ce) | 21 Sep 16 | 50,000 | 2,138 | 1,069,000 | 13,862,468 | 5.778 |
Hikma Pharmaceuticals | Mohammed A K S Al-Husry | 21 Sep 16 | 50,000 | 2,138 | 1,069,000 | 6,317,450 | 2.633 |
Hikma Pharmaceuticals♥ | Mazen Darwazah | 15 Sep 16 | 70,251 | 2,122 | 1,490,726 | 7,692,956 | 3.206 |
Hikma Pharmaceuticals♥ | Mazen Darwazah | 16 Sep 16 | 50,000 | 2,119 | 1,059,500 | 7,742,956 | 3.227 |
Hikma Pharmaceuticals♥ | Said Darwazah (ch & ce) | 15 Sep 16 | 70,251 | 2,122 | 1,490,726 | 13,762,468 | 5.736 |
Hikma Pharmaceuticals ♥ | Said Darwazah (ch & ce) | 16 Sep 16 | 50,000 | 2,119 | 1,059,500 | 13,812,468 | 5.757 |
Hikma Pharmaceuticals ♥ | Mohammed Al-Husry | 15 Sep 16 | 70,251 | 2,122 | 1,490,726 | 6,217,450 | 2.591 |
Hikma Pharmaceuticals♥ | Mohammed Al-Husry | 16 Sep 16 | 50,000 | 2,119 | 1,059,500 | 6,267,450 | 2.612 |
Inspirit Energy | John Gunn (ch & ce) | 16 Sep 16 | 4,000,000 | 0.26 | 10,520 | 374,029,580 | 39.926 |
McBride | John Coleman (ch) | 21 Sep 16 | 40,000 | 186.5 | 74,600 | 40,000 | 0.022 |
McColl's Retail | Dr Angus Porter | 21 Sep 16 | 5,814 | 174 | 10,116 | 5,814 | 0.005 |
New India Investment Trust | Michael Hughes | 19 Sep 16 | 3,905 | 386.5 | 15,093 | 3,905 | 0.007 |
Norman Broadbent* | Brian Stephens | 20 Sep 16 | 105,263 | 9.5 | 10,000 | 117,955 | 0.283 |
Norman Broadbent* | James Webber (cfo) | 20 Sep 16 | 105,263 | 9.5 | 10,000 | 145,263 | 0.349 |
Norman Broadbent* | Mike Brennan (ce) | 20 Sep 16 | 526,315 | 9.5 | 50,000 | 616,315 | 1.480 |
Polypipe | Ronald Marsh (ch) | 19 Sep 16 | 75,000 | 278.85 | 209,138 | 175,000 | 0.088 |
Prime People | John Lewis | 19 Sep 16 | 25,250 | 100 | 25,250 | 1,062,000 | 8.652 |
Real Estate Investors | Marcus Daly (fd) | 16 Sep 16 | 20,000 | 58.5 | 11,700 | 1,540,000 | 0.826 |
Real Estate Investors | Paul Bassi (ce) | 19 Sep 16 | 20,000 | 58.5 | 11,700 | 10,020,000 | 5.375 |
Ruffer Investment Co | Christopher Spencer | 19 Sep 16 | 13,150 | 226.5 | 29,785 | 27,307 | 0.018 |
Ruffer Investment Co | Sarah Evans | 19 Sep 16 | 10,000 | 226.72 | 22,672 | 10,000 | 0.006 |
Satellite Solutions Worldwide | Andrew Walwyn (ce) | 16 Sep 16 | 322,581 | 7.75 | 25,000 | 49,384,572 | 9.211 |
Satellite Solutions Worldwide | Frank Waters (cfo) | 16 Sep 16 | 322,581 | 7.75 | 25,000 | 4,155,351 | 0.775 |
Satellite Solutions Worldwide | Rodger Sargent | 16 Sep 16 | 322,581 | 7.75 | 25,000 | 9,487,668 | 1.770 |
Satellite Solutions Worldwide | Michael Tobin (ch) | 16 Sep 16 | 130,000 | 7.75 | 10,075 | 1,126,666 | 0.210 |
Spire Healthcare | John Gildersleeve | 21 Sep 16 | 63,700 | 389.81 | 248,307 | 68,461 | 0.017 |
Spire Healthcare♥ | John Gildersleeve | 21 Sep 16 | 57,300 | 389.81 | 223,360 | 125,761 | 0.031 |
Tungsten | David Benello | 21 Sep 16 | 35,000 | 61.25 | 21,438 | 70,000 | 0.056 |
Tungsten | David Benello | 21 Sep 16 | 35,000 | 61 | 21,350 | 105,000 | 0.083 |
Tungsten | David Benello | 21 Sep 16 | 35,000 | 60.75 | 21,263 | 35,000 | 0.028 |
Verseon | Eniko Fodor (cfo) | 19 Sep 16 | 6,000 | 161 | 9,660 | 31,008,486 | 20.482 |
VPC Specialty Lending Investments♥ | Richard Levy | 19 Sep 16 | 78,300 | 81 | 63,423 | 878,300 | 0.230 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Abcam♥ | Dr Jonathan Milner | 19 Sep 16 | 150,000 | 803.88 | 1,205,820 | 22,967,004 | 11.324 |
Abcam♥ | Dr Jonathan Milner | 19 Sep 16 | 160,000 | 803.88 | 1,286,208 | 23,117,004 | 11.398 |
Abcam♥ | Dr Jonathan Milner | 19 Sep 16 | 1,000,370 | 803.88 | 8,041,774 | 21,994,934 | 10.845 |
Ashmore | Tom Shippey (fd) | 19 Sep 16 | 215,780 | 341 | 735,810 | 120,000 | 0.017 |
Fisher (James) & Sons♥ | NP Henry (ce) | 21 Sep 16 | 7,989 | 1,628 | 130,061 | 194,962 | 0.388 |
Frenkel Topping | Richard Fraser | 15 Sep 16 | 2,700,476 | 50 | 1,350,238 | 1,254,361 | 1.636 |
Gulf Marine Services | Duncan Anderson (ce) | 19 Sep 16 | 600,000 | 50 | 300,000 | 2,014,622 | 0.577 |
Gym | Paul Gilbert | 15 Sep 16 | 332,713 | 210 | 698,697 | 887,776 | 0.693 |
Onesavings Bank | Andy Golding (ce) | 15 Sep 16 | 100,000 | 266.28 | 266,280 | 1,900,000 | 0.782 |
Onesavings Bank | Andy Golding (ce) | 20 Sep 16 | 112,470 | 266.28 | 299,485 | 1,650,000 | 0.679 |
Onesavings Bank | Andy Golding (ce) | 19 Sep 16 | 85,395 | 265.11 | 226,391 | 1,762,470 | 0.725 |
Onesavings Bank | Andy Golding (ce) | 16 Sep 16 | 52,135 | 265.01 | 138,163 | 1,847,865 | 0.760 |
Regus * | Mark Dixon (ce) | 19 Sep 16 | 37,000,000 | 275 | 101,750,000 | 257,701,874 | 27.741 |
SThree | Justin Hughes | 15 Sep 16 | 40,000 | 255 | 102,000 | 555,070 | 0.431 |
Zoopla Property | Alex Chesterman (ce) | 19 Sep 16 | 4,250,000 | 325 | 13,812,500 | 8,519,632 | 2.038 |
*Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust |