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Rightmove for share-selling chairman?

For the second time in recent months, Rightmove chairman Scott Forbes has sold millions of pounds worth of shares
June 5, 2014

The chairman of the UK's largest property website, Rightmove (RMV), has sold a large chunk of his shareholding. With the company's share price near an all-time high, Scott Forbes nearly halved his stake after selling 300,000 shares for gross proceeds of £7m. It has been widely reported in the British media that Mr Forbes is in the market for a new home in the prime London neighbourhood of South Kensington.

IC TIP: Hold at 2213p

This is the second time in recent months that Mr Forbes has sold the shares: in November, he sold 138,729 bonus shares for £3.1m. Rightmove chief executive Nick McKittrick also offloaded £6.1m-worth of shares in October.

Rightmove is facing increasing competition from its closest rival Zoopla, which is planning to float on the stock market later this month. Several large estate agents are also pressing ahead with plans to launch their own rival website, Agents' Mutual, next year.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Caledonia Investments SJ Bridges28 May 145,0002,174108,7005,0000.009
Coburg *Konrad Legg23 May 1480,0006552,000169,30023.255
Coburg *Chris Ells (ch)23 May 1485,0006555,25086,60011.896
Everyman Media  Adam Kaye22 May 14207,40989184,5943,037,7508.371
Everyman Media  Paul Wise (ch)28 May 1450,0009246,0002,577,1687.101
Experian †Deirdre Mahlan27 May 142,5001,01625,41215,0000.002
Experian †Deirdre Mahlan27 May 142,5001,01825,44112,5000.001
Kingspan  Michael Cawley22 May 1420,0001,256251,20020,0000.012
Legendary Investments *Zafar Karim (ch)23 May 1422,727,2730.1125,00055,727,2732.264
Picton Property Income Roger Lewis26 May 1451,6055930,447451,6050.103
Picton Property Income Trevor Ash26 May 1465,5995938,703290,5990.066
Polymetal International Marina Gronberg23 May 1411,000511.3656,24911,0000.003
R E A Holdings DJ Blackett23 May 1410,00047047,00010,0000.029
Smiths  William Seeger27 May 142,5001,30932,7212,500<0.001
Stellar Diamonds *SJ Poulton27 May 141,600,0001.2520,0005,964,4560.854
Stellar Diamonds *The Lord Daresbury (ch)27 May 141,615,4281.2520,1939,484,8071.359
UBM Terry Neill22 May 145,000653.1632,65825,8470.011
UK Mail  Guy Buswell (ce)22 May 1412,19561574,999267,8070.489
Urban&Civic *Alan Dickinson22 May 1488,889225200,00088,8890.063
Urban&Civic *Robin Butler22 May 14111,110225249,9981,198,3930.853
Urban&Civic *Nigel Hugill22 May 14111,110225249,9981,198,3930.853
Urban&Civic *Robert Dyson22 May 14111,111225250,000173,4110.123
Urban&Civic *Duncan Hunter22 May 14550,0002251,237,500550,0000.391
Urban&Civic *Philip Leech (ce)22 May 14222,222225500,000461,1690.328
Urban&Civic *Robert Adair (ch)22 May 14284,444225639,99913,611,0629.688
Urban&Civic *Jon Austen (fd)22 May 14133,334225300,002236,7520.169
Venn Life Sciences Holdings David Evans (ch)27 May 14210,00020.543,050289,0331.025
Vesuvius ♥Christer Gardell27 May 1413,70144060,28457,187,54121.086
Vesuvius ♥Christer Gardell28 May 1452,239442230,89657,239,78021.105
Vesuvius ♥Christer Gardell23 May 1458,093436253,28557,173,84021.081
Vesuvius ♥Christer Gardell22 May 14102,000433441,66057,115,74721.059
Vodafone  Luc Vandevelde22 May 1410,220204.820,93165,100<0.001

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Aquarius Platinum Jean Nel (ce)27 May 14231,41025.2058,3182,900,0010.198
Ashmore ♥Thomas Shippey (fd)27 May 1487,500352.73308,6351,043,6370.146
Barr (A G) ♥ABC Short (fd)28 May 1415,00062693,90022,7110.019
Ferrexpo Michael Abrahams (ch)23 May 1444,10213659,979135,6910.023
Ferrexpo Michael Abrahams (ch)27 May 1485,691138118,25450,0000.008
FirstGroup Prof David Begg22 May 1420,000134.2126,84213,7860.001
FirstGroup Prof David Begg22 May 1420,000135.0327,00633,7860.003
Hansa Trust Prof Geoffrey Wood27 May 145,00095247,6001,0000.013
Hill & Smith Holdings CJ Snowdon22 May 1410,000556.155,61028,9300.037
Leaf Clean Energy CompanyBran Keogh23 May 14500,00049.7248,50000
Rightmove Scott Forbes (ch)27 May 14300,0002,3517,052,400319,3000.322
Royal Dutch Shell Simon Henry (cfo)27 May 145,0002,457122,850190,2270.008
Royal Dutch Shell Simon Henry (cfo)27 May 1410,0002,450245,000195,2270.008
Standard Chartered Dr Kurt Campbell23 May 142,0001,34026,80000

* placing/tender/open offer

♥ spouse/connected party

† depositary receipts