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LondonMetric chairman cashes in

But he still holds more than 13m shares
January 26, 2017

The UK real-estate market may be facing a period of uncertainty as the leaving process for the UK from the EU starts to unfold. However, LondonMetric Property (LMP) has been focusing more on distribution warehouses, to take advantage of the change in consumer spending habits towards online shopping and away from the high street, so that nearly 60 per cent of the portfolio is now in distribution assets. Exposure to the fragile retail park sector has slowly been reduced and stands at just 17 per cent of the portfolio.

Rental income has been rising steadily, with over half index-linked or on a fixed uplift, and will receive an additional boost as the development arm matures and starts to bring in further revenue. Occupancy levels remain high at 98.5 per cent, and the weighted average unexpired lease term to the first break is a healthy 12 years. So shareholders shouldn't be concerned by the news that 69-year-old non-executive chairman Patrick Vaughan sold more than 500,000* shares in the company in January. This still leaves him with a holding of 13.3m shares worth £19.7m.

*The original version of this article said Mr Vaughan had sold 750,000 shares. This has now been corrected.  

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
BlackRock Latin American Investment Trust Carolan Dobson16 Jan 174,792417.319,9974,7920.012
CRH Gillian Platt13 Jan 171,0002885.1357228,8511,0000.000
Chrysalis VCT Martin Knight17 Jan 1725,00063.31515,829332,6321.112
Condor Gold Jim Mellon12 Jan 17395,99850.5199,9791,094,8182.069
Croma Security Solutions  Roberto Fiorentino (ceo)16 Jan 17335,0002687,1004,110,00024.329
Croma Security Solutions  Sebastian Morley (ch)16 Jan 1740,0002610,400575,0003.404
Croma Security Solutions  Richard Juett (fd)16 Jan 1712,500263,25012,5000.074
Diurnal♥  Alan Raymond16 Jan 179,0001109,90022,8880.044
Diurnal  John Goddard13 Jan 179,2481089,98816,1920.031
Diurnal  Peter Allen (ch)13 Jan 1740,00010542,00074,7220.143
Diurnal  Sam Williams13 Jan 179,2481089,98846,7480.090
Fenner Michael Ducey13 Jan 1728,30029683,76828,3000.015
Fenner Chris Surch12 Jan 176,82829119,8696,8280.004
Fenner Geraint Anderson12 Jan 171,7032914,9561,7030.001
Fenner Vanda Murray (ch)12 Jan 1717,00029149,47019,0000.010
Fidelity Asian Values* Anthony Stott12 Jan 174,000311,24024,0000.036
Hargreave Hale AIM VCT 1* David Brock12 Jan 1712,76878.3210,00041,9150.064
Hilton Food  Robert Watson (ceo)13 Jan 1750,000680340,0003,081,3804.189
Jardine Lloyd Thompson  Nicholas Walsh13 Jan 171,000997.4259,9741,0000.000
Jersey Electricity David Padfield16 Jan 17100417.24172,4520.021
Jersey Electricity David Padfield16 Jan 17900417.23,7552,3520.020
Jersey Electricity Philip Austin 16 Jan 175,00041620,8005,0000.043
Murray International Trust Marcia Campbell17 Jan 1717,1741157198,70322,9000.018
Nature  Berend van Straten (ch)18 Jan 17100,00011.7511,750100,0000.126
Nature  Berend van Straten (ch)18 Jan 17174,00012.521,750274,0000.346
Nature  Jan Vesseur (ceo)18 Jan 171,051,40012.5131,4251,476,4001.862
Nature  Maarten Smits (cfo)18 Jan 17696,00012.587,000696,0000.878
Pacific Assets Trust Sian Hansen17 Jan 172,126235.0764,9984,6800.004
Qinetiq  Paul Murray16 Jan 179,418263.9824,86265,4950.011
Qinetiq  Paul Murray16 Jan 179,447263.1824,86374,9420.013
Safestore Holdings Bill Oliver13 Jan 175,000340.917,0455,0000.002
Safestore Holdings Bill Oliver13 Jan 175,00034217,10010,0000.005
Scientific Digital Imaging* Ken Ford (ch)12 Jan 17250,0001332,5001,250,0001.407
Scientific Digital Imaging* Mike Creedon (ceo)12 Jan 1776,9241310,000146,9240.165
Shoe Zone♥ Nick Davis (ceo)13 Jan 177,00018012,60022,7000.045
Tristel F Soler16 Jan 172,5001503,75010,916,33425.759
Volga Gas♥ Aleksey Kalinin13 Jan 174,800,46049.52,376,22844,420,46054.828
Volga Gas♥ Michael Calvey13 Jan 174,800,46049.52,376,22844,420,46054.828

Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
GB  Richard Linford12 Jan 1720,000289.9657,992300,0000.223
Lindsell Train Investment Trust (The) Rory Landman12 Jan 171008650086,5001000.050
LondonMetric Property Patrick Vaughan (ch)13 Jan 17163,711152.1249,00413,613,7892.162
LondonMetric Property Patrick Vaughan (ch)16 Jan 1768,671151.32103,91313,545,1182.151
LondonMetric Property Patrick Vaughan (ch)17 Jan 1796,215150.21144,52513,448,9032.136
LondonMetric Property Patrick Vaughan (ch)18 Jan 17171,403150.02257,13913,277,5002.109
Numis Corp Oliver Hemsley17 Jan 172,364,2542445,768,7807,000,0006.190