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Howden chief dumps another share stack

The kitchen specialist's chief executive has made nearly £13m in the past 10 months from selling shares
June 2, 2016

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.

IC TIP: Hold at 508p

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
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
3iCaroline J Banszky19 May 163,00050015,0009,0000.001
3iSimon Borrows (ceo)19 May 16500,0005002,500,00010,640,1921.094
Aviva♥ Mark Wilson (ceo)20 May 167,50043632,700458,3700.011
BBA Aviation♥ Nigel Rudd (ch)23 May 164,710201.41889,487230,7600.022
BBA Aviation Nigel Rudd (ch)23 May 165,140201.418810,353226,5900.022
Close Brothers   Preben Prebensen (ceo)20 May 1623,3571279.6784298,894740,9210.494
ConvivialityIan Jones20 May 167,31720515,00017,3170.010
Conviviality* Andrew Humphreys (cfo)20 May 167,31720515,00029,9830.018
Conviviality* Martin Newman20 May 169,75620520,00028,6890.017
Conviviality* David Adams (ch)20 May 1615,00020530,75048,1630.028
Conviviality* Stephen Wilson20 May 1625,00020551,250125,0000.073
Devro Peter Page (ceo)23 May 1610,000251.7525,175682,4400.409
Devro Rutger Helbing (fd)23 May 1610,000252.7425,27410,0000.006
Ergomed*Peter George24 May 16100,000140140,000131,2500.330
Ergomed*Stephen Stamp (cfo)24 May 16200,000140280,000200,0000.503
Ergomed*Miroslav Reljanovic (ceo)24 May 16400,000140560,00017,632,23744.385
Grainger Robert Wilkinson23 May 1610,00024024,00010,0000.002
Greka Engineering & Technology♥  Randeep Grewal (ch & ceo)23 May 161,162,2700.89,298327,764,12380.016
Greka Engineering & Technology♥  Randeep Grewal (ch & ceo)20 May 1614,476,2470.8115,810326,601,85379.732
Greka Engineering & Technology♥  Randeep Grewal (ch & ceo)25 May 1628,806,4380.8230,452356,570,56187.049
Helical Bar♥ Richard Cotton25 May 1610,000399.539,95010,0000.008
Homeserve Mark Morris25 May 163,763475.517,89334,2310.011
Homeserve Richard Harpin (ceo)25 May 168,55046539,75838,528,20912.513
Homeserve Ben Mingay25 May 1610,00046146,10047,1430.015
Homeserve♥ Ben Mingay25 May 1610,00046146,10057,1420.019
Homeserve♥ Richard Harpin (ceo)25 May 1610,56846549,14138,528,77312.513
Homeserve Chris Havemann25 May 1611,82246554,97211,8220.004
Homeserve  J M Barry Gibson (ch)25 May 1624,000460110,400150,0700.049
Homeserve Stella David25 May 1642,817467.1199,99868,9450.022
ICAP Stuart Bridges (fd)20 May 1625,000427.7106,92550,0000.008
Informa♥ Stephen Davidson20 May 162,680663.666917,7862,6800.000
Inspirit Energy*♥ John Gunn (ch & ceo)20 May 1610,000,0000.550,000370,029,58039.499
Keller  Peter Hill 25 May 1610,000934.0493,40410,0000.014
Meggitt♥ Nigel Rudd  (ch)23 May 165,100382.919,528119,5000.015
Meggitt Nigel Rudd  (ch)23 May 1617,400382.966,625114,4000.015
Minds + Machines  Guy Elliott (ch)25 May 16300,0001030,00023,000,0003.041
Molins Phil Moorhouse (ch)25 May 1620,00059.511,90020,0000.099
Mothercare Richard Rivers20 May 168,60012310,57878,8690.046
Mothercare Richard Smothers (cfo)20 May 1620,00012324,60096,5240.056
Mothercare Mark Newton-Jones (ceo)20 May 1620,14312324,776268,9720.157
Mothercare Alan Parker (ch)20 May 1620,576121.525,000462,4280.271
Real Estate Investors Marcus Daly (fd)24 May 1620,00060.512,1001,520,0000.815
Reckitt Benckiser  Mary Harris23 May 161,457681299,2511,7290.000
Regus  François Pauly19 May 1612,282295.936,34250,0000.005
Securities Trust of Scotland Angus Lennox20 May 1680,000132.25105,800100,0000.089
Sirius Real Estate Andrew Coombs (ceo)24 May 1653,0005127,0304,292,8790.571
Sirius Real Estate Alistair Marks (cfo)25 May 1656,0535128,5872,280,1250.303
Sinclair Pharma Christophe Foucher20 May 1631,50035.511,183222,7000.045
Sinclair Pharma♥ Chris Spooner (ceo)20 May 16150,00035.453,1009,139,1641.837
Sinclair Pharma Jean-Charles Tschudin20 May 16250,0003587,5003,250,1170.653
Thomas Cook  Michael Healy (cfo)19 May 1628,25881.723,0871,212,8900.079
Treatt♥ Tim Jones (ch)19 May 165,1761789,213117,4030.223

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Amati VCT Peter Lawrence (ch)23 May 1622,2986714,940166,9260.293
Amiad Water Systems Simon Olswang24 May 1616,50017428,71000.000
Assura Simon Laffin (ch)23 May 16114,94257.2365,7813,257,4390.199
Gamma Communications Andrew Stone20 May 16300,0004481,344,0002,200,0002.408
Hill & SmithMark Pegler (fd)20 May 1648,000981470,88060,4070.077
Howden Joinery  Matthew Ingle (ceo)19 May 161,400,000486.626,812,6803,021,2160.476
Town Centre Securities Michael Ziff20 May 16250,000302.4756,0002,636,5134.959
Witan Investment Trust♥ Catherine Claydon20 May 165,893725.2542,73949,0370.026
*Placing/tender/open offer ♥Spouse/connected party