Howden Joinery (HWDN) chief executive Matthew Ingle's offloading of 1.4m shares ahead of a potentially debilitating Brexit vote would normally be enough to set alarm bells ringing. But rather than take this as a sign of bad times to come, investors reacted to the announcement by sending the kitchen specialist's shares up 3 per cent.
That response suggests the market is still buzzing from the latest trading update. In the 16 weeks to 16 April 2016, the group's aggressive investment strategy triggered a 9 per cent rise in UK revenue. Talk of "stable" conditions in a time of global economic uncertainty was welcomed by investors.
Concerns over Mr Ingle's decision to cash out were also blunted by new chairman Richard Pennycook's decision to spend £250,000 topping up his holding. The fact that Howden's chief has made a habit of reducing his stake - last summer he pocketed more than £6m by selling £1.25m shares at 492p - may similarly have been influential.
Buys | |||||||
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Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
3i | Caroline J Banszky | 19 May 16 | 3,000 | 500 | 15,000 | 9,000 | 0.001 |
3i | Simon Borrows (ceo) | 19 May 16 | 500,000 | 500 | 2,500,000 | 10,640,192 | 1.094 |
Aviva♥ | Mark Wilson (ceo) | 20 May 16 | 7,500 | 436 | 32,700 | 458,370 | 0.011 |
BBA Aviation♥ | Nigel Rudd (ch) | 23 May 16 | 4,710 | 201.4188 | 9,487 | 230,760 | 0.022 |
BBA Aviation | Nigel Rudd (ch) | 23 May 16 | 5,140 | 201.4188 | 10,353 | 226,590 | 0.022 |
Close Brothers | Preben Prebensen (ceo) | 20 May 16 | 23,357 | 1279.6784 | 298,894 | 740,921 | 0.494 |
Conviviality | Ian Jones | 20 May 16 | 7,317 | 205 | 15,000 | 17,317 | 0.010 |
Conviviality* | Andrew Humphreys (cfo) | 20 May 16 | 7,317 | 205 | 15,000 | 29,983 | 0.018 |
Conviviality* | Martin Newman | 20 May 16 | 9,756 | 205 | 20,000 | 28,689 | 0.017 |
Conviviality* | David Adams (ch) | 20 May 16 | 15,000 | 205 | 30,750 | 48,163 | 0.028 |
Conviviality* | Stephen Wilson | 20 May 16 | 25,000 | 205 | 51,250 | 125,000 | 0.073 |
Devro | Peter Page (ceo) | 23 May 16 | 10,000 | 251.75 | 25,175 | 682,440 | 0.409 |
Devro | Rutger Helbing (fd) | 23 May 16 | 10,000 | 252.74 | 25,274 | 10,000 | 0.006 |
Ergomed* | Peter George | 24 May 16 | 100,000 | 140 | 140,000 | 131,250 | 0.330 |
Ergomed* | Stephen Stamp (cfo) | 24 May 16 | 200,000 | 140 | 280,000 | 200,000 | 0.503 |
Ergomed* | Miroslav Reljanovic (ceo) | 24 May 16 | 400,000 | 140 | 560,000 | 17,632,237 | 44.385 |
Grainger | Robert Wilkinson | 23 May 16 | 10,000 | 240 | 24,000 | 10,000 | 0.002 |
Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 23 May 16 | 1,162,270 | 0.8 | 9,298 | 327,764,123 | 80.016 |
Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 20 May 16 | 14,476,247 | 0.8 | 115,810 | 326,601,853 | 79.732 |
Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 25 May 16 | 28,806,438 | 0.8 | 230,452 | 356,570,561 | 87.049 |
Helical Bar♥ | Richard Cotton | 25 May 16 | 10,000 | 399.5 | 39,950 | 10,000 | 0.008 |
Homeserve | Mark Morris | 25 May 16 | 3,763 | 475.5 | 17,893 | 34,231 | 0.011 |
Homeserve | Richard Harpin (ceo) | 25 May 16 | 8,550 | 465 | 39,758 | 38,528,209 | 12.513 |
Homeserve | Ben Mingay | 25 May 16 | 10,000 | 461 | 46,100 | 47,143 | 0.015 |
Homeserve♥ | Ben Mingay | 25 May 16 | 10,000 | 461 | 46,100 | 57,142 | 0.019 |
Homeserve♥ | Richard Harpin (ceo) | 25 May 16 | 10,568 | 465 | 49,141 | 38,528,773 | 12.513 |
Homeserve | Chris Havemann | 25 May 16 | 11,822 | 465 | 54,972 | 11,822 | 0.004 |
Homeserve | J M Barry Gibson (ch) | 25 May 16 | 24,000 | 460 | 110,400 | 150,070 | 0.049 |
Homeserve | Stella David | 25 May 16 | 42,817 | 467.1 | 199,998 | 68,945 | 0.022 |
ICAP | Stuart Bridges (fd) | 20 May 16 | 25,000 | 427.7 | 106,925 | 50,000 | 0.008 |
Informa♥ | Stephen Davidson | 20 May 16 | 2,680 | 663.6669 | 17,786 | 2,680 | 0.000 |
Inspirit Energy*♥ | John Gunn (ch & ceo) | 20 May 16 | 10,000,000 | 0.5 | 50,000 | 370,029,580 | 39.499 |
Keller | Peter Hill | 25 May 16 | 10,000 | 934.04 | 93,404 | 10,000 | 0.014 |
Meggitt♥ | Nigel Rudd (ch) | 23 May 16 | 5,100 | 382.9 | 19,528 | 119,500 | 0.015 |
Meggitt | Nigel Rudd (ch) | 23 May 16 | 17,400 | 382.9 | 66,625 | 114,400 | 0.015 |
Minds + Machines | Guy Elliott (ch) | 25 May 16 | 300,000 | 10 | 30,000 | 23,000,000 | 3.041 |
Molins | Phil Moorhouse (ch) | 25 May 16 | 20,000 | 59.5 | 11,900 | 20,000 | 0.099 |
Mothercare | Richard Rivers | 20 May 16 | 8,600 | 123 | 10,578 | 78,869 | 0.046 |
Mothercare | Richard Smothers (cfo) | 20 May 16 | 20,000 | 123 | 24,600 | 96,524 | 0.056 |
Mothercare | Mark Newton-Jones (ceo) | 20 May 16 | 20,143 | 123 | 24,776 | 268,972 | 0.157 |
Mothercare | Alan Parker (ch) | 20 May 16 | 20,576 | 121.5 | 25,000 | 462,428 | 0.271 |
Real Estate Investors | Marcus Daly (fd) | 24 May 16 | 20,000 | 60.5 | 12,100 | 1,520,000 | 0.815 |
Reckitt Benckiser | Mary Harris | 23 May 16 | 1,457 | 6812 | 99,251 | 1,729 | 0.000 |
Regus | François Pauly | 19 May 16 | 12,282 | 295.9 | 36,342 | 50,000 | 0.005 |
Securities Trust of Scotland | Angus Lennox | 20 May 16 | 80,000 | 132.25 | 105,800 | 100,000 | 0.089 |
Sirius Real Estate | Andrew Coombs (ceo) | 24 May 16 | 53,000 | 51 | 27,030 | 4,292,879 | 0.571 |
Sirius Real Estate | Alistair Marks (cfo) | 25 May 16 | 56,053 | 51 | 28,587 | 2,280,125 | 0.303 |
Sinclair Pharma | Christophe Foucher | 20 May 16 | 31,500 | 35.5 | 11,183 | 222,700 | 0.045 |
Sinclair Pharma♥ | Chris Spooner (ceo) | 20 May 16 | 150,000 | 35.4 | 53,100 | 9,139,164 | 1.837 |
Sinclair Pharma | Jean-Charles Tschudin | 20 May 16 | 250,000 | 35 | 87,500 | 3,250,117 | 0.653 |
Thomas Cook | Michael Healy (cfo) | 19 May 16 | 28,258 | 81.7 | 23,087 | 1,212,890 | 0.079 |
Treatt♥ | Tim Jones (ch) | 19 May 16 | 5,176 | 178 | 9,213 | 117,403 | 0.223 |
Sells | |||||||
---|---|---|---|---|---|---|---|
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Amati VCT | Peter Lawrence (ch) | 23 May 16 | 22,298 | 67 | 14,940 | 166,926 | 0.293 |
Amiad Water Systems | Simon Olswang | 24 May 16 | 16,500 | 174 | 28,710 | 0 | 0.000 |
Assura | Simon Laffin (ch) | 23 May 16 | 114,942 | 57.23 | 65,781 | 3,257,439 | 0.199 |
Gamma Communications | Andrew Stone | 20 May 16 | 300,000 | 448 | 1,344,000 | 2,200,000 | 2.408 |
Hill & Smith | Mark Pegler (fd) | 20 May 16 | 48,000 | 981 | 470,880 | 60,407 | 0.077 |
Howden Joinery | Matthew Ingle (ceo) | 19 May 16 | 1,400,000 | 486.62 | 6,812,680 | 3,021,216 | 0.476 |
Town Centre Securities | Michael Ziff | 20 May 16 | 250,000 | 302.4 | 756,000 | 2,636,513 | 4.959 |
Witan Investment Trust♥ | Catherine Claydon | 20 May 16 | 5,893 | 725.25 | 42,739 | 49,037 | 0.026 |
*Placing/tender/open offer ♥Spouse/connected party |