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Investec director pockets £11m

One director has sold part of his stake in the specialist banking and wealth management group following a brief rally in the share price
October 6, 2016

Investec (INVP) was resilient in the face of hostile trading conditions last year, and while the share price has remained pretty volatile this year too, it has stabilised over the summer. Regardless, director Ian Kantor chose to offload a chunk of the Johannesberg-listed shares worth 474p apiece, or £11.4m in total, and buy 600,000 call options at 379p each, which will expire in March 2021.

IC TIP: Hold at 493p

Despite weakness in the South African rand and political and social issues in the country, the group posted a rise in pre-tax profits of a third during the 12 months to the end of March 2016. Strong loan book growth in its South African specialist banking business was helped by Investec's wealthier clients emerging relatively unscathed from the country's economic downturn. However, the wealth and investment business suffered as a result of currency depreciation, market volatility and weaker performance fees triggered by reduced assets under management, sending operating profits down a tenth to £135m.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
AA Martin Clarke (cfo)28 Sep 16200,000292.625585,250988,6860.162
Allergy Therapeutics Manuel Llobet (ceo)26 Sep 16100,0001818,0003,275,0000.555
Allergy Therapeutics Nicholas Wykeman (fd)27 Sep 16150,00017.7526,625150,0000.025
Altitude  Peter Hallett (ch)23 Sep 1655,00042.8523,568195,0000.454
BAE Systems Charles Woodburn22 Sep 1626,498536142,02926,5380.001
Big Yellow  Timothy Clark22 Sep 161,963776.1715,23620,6150.013
Brewin Dolphin Holdings David Nicol (ceo)28 Sep 1610,000270.527,05083,0000.029
C4X Discovery Holdings*Clive Dix (ceo)27 Sep 16465,686102475,0001,156,9363.094
Compass  Ireena Vittal22 Sep 161,8631490.945627,7761,8630.000
Cropper (James)♥ M A J Cropper (ch)26 Sep 161,000962.59,6251,243,70313.169
Driver  Hugh Cawley (fd)26 Sep 1621,191479,96021,1910.067
Eagle Eye Solutions  Tim Mason (ceo)27 Sep 1641,764130.3854,452116,7640.471
Ecofin Global Utilities and Infrastructure TrustMartin Nѐgre26 Sep 16359,500135.5442487,2811,617,8711.761
Firestone Diamonds Raffaele Genovese (ch)22 Sep 161,000,00044.5445,0002,846,9440.907
Highcroft Investments John Hewitt (ch)23 Sep 162,000883.517,67026,4850.513
Hikma Pharmaceuticals♥ Mohammed Al-Husry23 Sep 1650,00020991,049,5006,367,4502.654
Hikma Pharmaceuticals♥ Mohammed Al-Husry26 Sep 1650,00020781,039,0006,417,4502.675
Hikma Pharmaceuticals♥ Mohammed Al-Husry27 Sep 1650,00020941,047,0006,467,4502.696
Hikma Pharmaceuticals♥ Mohammed Al-Husry28 Sep 1610,0002085208,5006,477,4502.700
Hikma Pharmaceuticals♥ Mazen Darwazah23 Sep 1650,00020991,049,5007,842,9563.269
Hikma Pharmaceuticals♥ Mazen Darwazah26 Sep 1650,00020781,039,0007,892,9563.290
Hikma Pharmaceuticals♥ Mazen Darwazah27 Sep 1650,00020941,047,0007,942,9563.311
Hikma Pharmaceuticals♥ Mazen Darwazah28 Sep 1610,0002085208,5007,952,9563.315
Hikma Pharmaceuticals♥ Said Darwazah (ch & ceo)23 Sep 1650,00020991,049,50013,912,4685.799
Hikma Pharmaceuticals♥ Said Darwazah (ch & ceo)26 Sep 1650,00020781,039,00013,962,4685.819
Hikma Pharmaceuticals♥ Said Darwazah (ch & ceo)27 Sep 1650,00020941,047,00014,012,4685.840
Hikma Pharmaceuticals♥ Said Darwazah (ch & ceo)28 Sep 1610,0002085208,50014,022,4685.844
IndigoVision  Chris Lea (cfo)23 Sep 165,0001638,15015,0000.197
Informa John Rishton23 Sep 166,945714.549,6226,9450.001
Marlowe Charles Skinner27 Sep 1628,88217049,099467,1561.701
Marlowe Derek O'Neill (fd)27 Sep 1689,129170151,519828,4323.016
Marlowe Peter Gaze27 Sep 1673,649170125,203600,6252.187
McKay Securities Viscount Lifford22 Sep 1615,00020030,000100,0000.107
Ocado  Andrew Harrison22 Sep 1611,500257.62629,62711,5000.002
Onesavings Bank Andrew Doman26 Sep 1615,000259.638,94015,0000.006
OneSavings Bank Andrew Doman27 Sep 1685,499261.25223,366100,4990.041
River and Mercantile UK Micro Cap Investment Co Trudi Clark27 Sep 1616,885118.4520,00016,8850.025
Safestyle UK Steve Birmingham (ceo)26 Sep 1617,500280.649,1054,149,8465.011
Sanditon Investment Trust♥ Christopher Keljik 26 Sep 1665,00010568,250265,0000.530
Smart Metering Systems Miriam Greenwood  23 Sep 164,650545.525,36614,6500.016
Vectura  Bruno Angelici (ch)26 Sep 1680,000142.6673114,13492,9030.014
WYG Jeremy Beeton26 Sep 1610,000118.49911,85015,0000.022

Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Alliance Pharma John Dawson (ceo)22 Sep 163,000,00045.251,357,50056,576,40212.000
Close Brothers  Elizabeth Lee27 Sep 1620,0001417283,40045,2920.030
Eco Animal Health  Peter Lawrence (ch)28 Sep 16415,0004882,025,2009,938,47715.362
Finsbury Food  Paul Monk28 Sep 16146,000124181,040145,5470.112
Fisher (James) & Sons♥ N P Henry (ceo)22 Sep 163,940165065,010191,0220.380
GB♥  Dave Wilson (fd)26 Sep 1650,000346.2173,320245,5920.183
Galliford Try♥ Andrew Jenner22 Sep 1612,4331335.9166,0921,0000.001
Hansard Global Gordon Marr (ceo)22 Sep 1675,00011586,250225,0000.164
Hargreaves Lansdown♥ Ian Gorham (ceo)22 Sep 16155,00013042,021,200139,6280.029
Investec Ian Kantor23 Sep 162,400,00047411,376,0001,009,0450.154
MJ Gleeson♥ Chris Mills28 Sep 161,000,0006006,000,00010,055,00018.579
WYG David Jeffcoat26 Sep 1640,000116.4246,568152,9160.223
WYG David Jeffcoat27 Sep 165,000115.265,763147,9160.215
Walker Crips  Robert Elliott23 Sep 1640,0004618,400369,7940.965
Walker Crips  Robert Elliott27 Sep 16100,00046.546,500271,0940.707
XP Power James Peters (ch)26 Sep 16120,00017002,040,0001,929,27910.026
* placing/tender/open offer ♥ spouse/connected party