Non-executive director Robert Morley has earned himself a rather nice retirement fund from Quarto (QRT), the illustrated book publishing company he helped to set up 40 years ago. Prior to his departure from the board Mr Morley has sold a substantial chunk of his shares to cash himself a sweet £2.5m.
It appears to be the start of a new chapter for Quarto, which also recently announced the imminent departure of its chairman Tim Chadwick, credited for turning the business around by substantially alleviating debt levels. While investor spirit was somewhat dampened by this news, Messrs Chadwick and Morley are leaving the company in much better shape than it was a few years ago, and recent financial results show the continued progress.
Last month, Mr Morley reported that the company remains in good hands with the new management team and, despite the sell-out, he retains a not insignificant 2 per cent stake in the business.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 600 (The) | Derek Zissman | 30 Mar 16 | 100,000 | 8.625 | 8,625 | 400,000 | 0.433 |
| Audioboom | Rob Proctor (ce) | 24 Mar 16 | 650,000 | 2.98 | 19,370 | 1,066,153 | 0.199 |
| Baillie Gifford Japan Trust (The) | P Dimond | 29 Mar 16 | 1,077 | 462 | 4,976 | 4,627 | 0.006 |
| Boot (Henry) | Peter Mawson | 30 Mar 16 | 10,000 | 228.5 | 22,850 | 10,000 | 0.008 |
| Caledonia Mining Corp | John Kelly | 24 Mar 16 | 7,000 | 49.5979 | 3,472 | 50,965 | 0.098 |
| Centaur Media | Andria Vidler (ce) | 29 Mar 16 | 9,705 | 51 | 4,950 | 149,442 | 0.104 |
| Centrica | Steve Pusey | 29 Mar 16 | 821 | 225.9 | 1,855 | 24,187 | 0.000 |
| Centrica | Margherita Della Valle | 29 Mar 16 | 881 | 225.9 | 1,990 | 27,461 | 0.001 |
| Centrica | Ian Meakins | 29 Mar 16 | 893 | 225.9 | 2,017 | 24,379 | 0.000 |
| CloudTag | John Wakely (fd) | 29 Mar 16 | 175,000 | 3.07 | 5,373 | 175,000 | 0.066 |
| Crest Nicholson Holdings | Sharon Flood | 24 Mar 16 | 5,559 | 565.74 | 31,449 | 5,559 | 0.002 |
| Dods | Cheryl Jones (ch) | 30 Mar 16 | 50,000 | 11.75 | 5,875 | 5,115,000 | 1.505 |
| Dods | William Wells | 29 Mar 16 | 217,000 | 11.4 | 24,738 | 2,072,000 | 0.610 |
| Drum Income PlusREIT | Alan Robertson | 24 Mar 16 | 25,000 | 100 | 25,000 | 50,000 | 0.144 |
| Drum Income PlusREIT | John Evans (ch) | 24 Mar 16 | 50,000 | 100 | 50,000 | 100,000 | 0.289 |
| FDM | Michelle Senecal de Fonseca | 24 Mar 16 | 2,623 | 568.58 | 14,914 | 2,623 | 0.002 |
| Gabelli Value Plus+ Trust | Richard Howard | 30 Mar 16 | 16,000 | 91 | 14,560 | 36,000 | 0.036 |
| Gresham Computing♥ | M Royde | 24 Mar 16 | 40,000 | 100 | 40,000 | 6,887,664 | 10.886 |
| Gresham Computing♥ | M Royde | 30 Mar 16 | 80,000 | 100 | 80,000 | 6,967,664 | 11.012 |
| Henderson International Income Trust | Christopher Jonas (ch) | 30 Mar 16 | 20,000 | 118.59 | 23,718 | 159,730 | 0.199 |
| Hikma Pharmaceuticals | Patrick Butler | 24 Mar 16 | 2,500 | 1920 | 48,000 | 3,875 | 0.002 |
| ICAP | Stuart Bridges (fd) | 30 Mar 16 | 25,000 | 473.7 | 118,425 | 25,000 | 0.004 |
| Inchcape | Nigel Stein | 24 Mar 16 | 8,381 | 712.5 | 59,715 | 8,381 | 0.002 |
| Jupiter Green Investment Trust | Simon Baker | 24 Mar 16 | 7,500 | 131.325 | 9,849 | 7,500 | 0.034 |
| Kier | Kirsty Bashforth | 24 Mar 16 | 852 | 1259 | 10,727 | 2,000 | 0.002 |
| Learning Technologies | Harry Hill | 30 Mar 16 | 20,000 | 37.5 | 7,500 | 2,028,000 | 0.487 |
| Man | Richard Berliand | 29 Mar 16 | 50,000 | 151.816 | 75,908 | 50,000 | 0.003 |
| Metal Tiger*♥ | Terry Grammer (ch) | 29 Mar 16 | 4,815,667 | 2.75 | 132,431 | 38,150,667 | 7.987 |
| Metals Exploration | Jeremy Ayre | 29 Mar 16 | 2,000,000 | 4.75 | 95,000 | 2,000,000 | 0.116 |
| Morrison (Wm) Supermarkets | David Potts (ce) | 30 Mar 16 | 180,000 | 201.62 | 362,916 | 1,002,881 | 0.043 |
| Murray International Trust | D Hardie | 24 Mar 16 | 1,684 | 886 | 14,920 | 6,012 | 0.005 |
| Murray International Trust♥ | D Hardie | 24 Mar 16 | 1,685 | 886 | 14,929 | 7,697 | 0.006 |
| Murray ome Trust | Mike Balfour | 30 Mar 16 | 5,000 | 650.25 | 32,513 | 10,000 | 0.015 |
| Murray ome Trust | Mike Balfour | 30 Mar 16 | 5,000 | 653.25 | 32,663 | 5,000 | 0.007 |
| PuriCore | Alex Martin (ce) | 29 Mar 16 | 100,000 | 28 | 28,000 | 100,000 | 0.199 |
| Red Emperor Resources NL | Greg Bandy | 24 Mar 16 | 600,000 | 7.3657 | 44,194 | 1,000,000 | 0.235 |
| Severn Trent | Angela Strank | 30 Mar 16 | 224 | 2181 | 4,885 | 459 | 0.000 |
| Severn Trent | Olivia Garfield (ce) | 30 Mar 16 | 1,102 | 2184 | 24,068 | 49,117 | 0.021 |
| Severn Trent | Olivia Garfield (ce) | 30 Mar 16 | 1,184 | 2182.69 | 25,843 | 67,489 | 0.029 |
| Sky | Dave Lewis | 24 Mar 16 | 297 | 1021 | 3,032 | 9,362 | 0.001 |
| Sky | Nick Ferguson (ch) | 24 Mar 16 | 562 | 1021 | 5,738 | 43,254 | 0.003 |
| Somero Enterprises | John Yuncza (fd) | 29 Mar 16 | 2,500 | 148.75 | 3,719 | 22,113 | 0.039 |
| Somero Enterprises | Robert Scheuer | 29 Mar 16 | 2,500 | 148.75 | 3,719 | 2,500 | 0.004 |
| Somero Enterprises | John Yuncza (fd) | 30 Mar 16 | 17,500 | 151 | 26,425 | 39,613 | 0.070 |
| Somero Enterprises | Robert Scheuer | 30 Mar 16 | 22,500 | 151 | 33,975 | 25,000 | 0.044 |
| Standard Life | Kevin Parry | 30 Mar 16 | 5,931 | 357.3 | 21,191 | 42,255 | 0.002 |
| Standard Life | Kevin Parry | 30 Mar 16 | 7,745 | 356.4 | 27,603 | 50,000 | 0.003 |
| Symphony International Holdings♥ | Anil Thadani | 24 Mar 16 | 9,986 | 74 | 7,390 | 59,648,149 | 11.295 |
| Symphony International Holdings♥ | Anil Thadani | 29 Mar 16 | 85,000 | 74.6471 | 63,450 | 59,733,149 | 11.311 |
| Upland Resources | Norza Zakaria (ch) | 30 Mar 16 | 18,000,000 | 1 | 180,000 | 62,876,642 | 29.459 |
| Vodafone | Mathias Döpfner | 30 Mar 16 | 11,500 | 221.4 | 25,461 | 11,500 | 0.000 |
| Vodafone | Sir Crispin Davis | 30 Mar 16 | 34,500 | 222.8 | 76,866 | 34,500 | 0.000 |
| Vodafone♥ | Clara Furse | 30 Mar 16 | 25,000 | 221.2 | 55,300 | 25,000 | 0.000 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Boot (Henry)♥ | John Sutcliffe (ce) | 29 Mar 16 | 3,550 | 223 | 7,917 | 501,895 | 0.380 |
| Quarto | Richard Morley | 24 Mar 16 | 1,022,228 | 246 | 2,514,681 | 380,624 | 1.932 |
| Surface Transforms | David Bundred (ch) | 25 Mar 16 | 84,000 | 18 | 15,120 | 560,747 | 1.054 |
* placing/tender/open offer ♥ spouse/connected party Ω tender offer | |||||||
