“If I had returned before five months ago, we would probably not be in as big a mess as we are now.” So said Redrow (RDW) chairman Steve Morgan in September 2009 on his return as chairman to the company he had founded 35 years earlier, and whose board he had left in 2000. Although the housebuilder's share price has doubled since the start of the millennium, it was savaged at the time of the global financial crisis. Nonetheless, Redrow has turned a £194m pre-tax loss in 2008 to a profit of £315m in the year to June 2017, no doubt partly due to Mr Morgan's stewardship.
However, in a move that will allow him the opportunity to diversify his investment portfolio, two vehicles controlled by Mr Morgan – Bridgemere Securities and the Steve Morgan charitable trust – have each sold 12.95m shares, raising £152.8m. This amounts to around 7 per cent of the issued share capital but Mr Morgan will still control around one-third of the company, and as Redrow’s largest shareholder remains fully committed to the business.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Aura Energy | Peter Reeve (ch) | 31 Aug 17 | 377,732 | 217.97 | 823,326 | 10,546,373 | 1.329 |
Aura Energy | Peter Reeve (ch) | 31 Aug 17 | 550,034 | 149.62 | 822,963 | 11,096,407 | 1.398 |
Avon Rubber | Paul McDonald (ce) | 31 Aug 17 | 6,170 | 948 | 58,492 | 26,531 | 0.086 |
Balfour Beatty♥ | Leo Quinn (ce) | 06 Sep 17 | 100,000 | 262.76 | 262,763 | 798,425 | 0.116 |
Boot (Henry) | Darren Littlewood (fd) | 31 Aug 17 | 4,841 | 303 | 14,668 | 29,535 | 0.022 |
C4X Discovery | Dr Clive Dix (ce) | 06 Sep 17 | 30,000 | 75 | 22,500 | 1,226,936 | 2.635 |
C4X Discovery | Dr Clive Dix (ce) | 06 Sep 17 | 98,000 | 77.5 | 75,950 | 1,324,936 | 2.846 |
City Merchants High Yield Trust | Tim Scholefield (ch) | 31 Aug 17 | 5,000 | 199.1 | 9,955 | 5,000 | 0.005 |
Countrywide | Himanshu Raja (cfo) | 06 Sep 17 | 10,592 | 134.87 | 14,285 | 133,433 | 0.062 |
Countrywide♥ | Himanshu Raja (cfo) | 06 Sep 17 | 89,408 | 135 | 120,701 | 222,841 | 0.094 |
Dalata Hotel | Pat McCann (ce) | 05 Sep 17 | 20,000 | 473 | 94,599 | 974,927 | 0.531 |
Dechra Pharmaceuticals | Richard Cotton (cfo) | 04 Sep 17 | 8,481 | 1,974.63 | 167,468 | 21,318 | 0.023 |
Dixons Carphone | Katie Bickerstaffe | 06 Sep 17 | 10,000 | 165 | 16,500 | 369,568 | 0.032 |
Elementis | Dorothee Deuring | 05 Sep 17 | 10,000 | 275 | 27,500 | 10,000 | 0.002 |
Frontera Resources Corp* | Zara Mamulaishvili (ce) | 04 Sep 17 | 216,203,090 | 0.10 | 210,798 | 841,845,433 | 6.264 |
Frontera Resources Corp* | Steve Nicandros (ch) | 04 Sep 17 | 40,207,166 | 0.10 | 39,202 | 1,710,901,096 | 12.731 |
Fulham Shore (The) | David Page (ch) | 06 Sep 17 | 143,000 | 13.95 | 19,949 | 81,182,331 | 14.208 |
Fulham Shore (The) | Nabil Mankarious | 06 Sep 17 | 1,000,000 | 13.79 | 137,900 | 117,300,434 | 20.529 |
Fulham Shore (The) | Nicholas Wong (fd) | 06 Sep 17 | 35,500 | 13.4 | 4,757 | 8,786,093 | 1.538 |
Fulham Shore (The)† | Nick Donaldson | 06 Sep 17 | 146,236 | 13.45 | 19,669 | 13,190,573 | 2.309 |
Fulham Shore♥ | Nabil Mankarious | 06 Sep 17 | 250,000 | 13.6 | 34,000 | 117,550,434 | 20.573 |
Harworth | Andrew Kirkman (fd) | 06 Sep 17 | 50,000 | 99.85 | 49,925 | 120,358 | 0.037 |
Harworth | Andrew Kirkman (fd) | 06 Sep 17 | 9,821 | 100.9 | 9,909 | 130,179 | 0.040 |
Harworth | Andrew Kirkman (fd) | 06 Sep 17 | 9,821 | 100.9 | 9,909 | 140,000 | 0.044 |
Harworth | Owen Michaelson (ce) | 06 Sep 17 | 68,627 | 102 | 70,000 | 275,090 | 0.086 |
Legal & General | Carolyn Bradley | 01 Sep 17 | 664 | 260.25 | 1,728 | 21,936 | <0.001 |
Legal & General | Sir John Kingman (ch) | 01 Sep 17 | 1,342 | 260.25 | 3,493 | 111,538 | 0.002 |
Legal & General | Toby Strauss | 01 Sep 17 | 966 | 260.25 | 2,514 | 6,047 | <0.001 |
Legal & General † | Sir John Kingman (ch) | 01 Sep 17 | 633 | 259.67 | 1,644 | 110,196 | 0.002 |
Mondi | Tanya Fratto | 01 Sep 17 | 1,000 | 2,117 | 21,170 | 1,000 | <0.001 |
Moneysupermarket.com | Matthew Price (cfo) | 06 Sep 17 | 7,823 | 319.54 | 24,998 | 50,469 | 0.009 |
Mortgage Advice Bureau♥ | Nathan Imlach | 31 Aug 17 | 281 | 498 | 1,399 | 25,336 | 0.050 |
Mortgage Advice Bureau♥ | Richard Verdin | 31 Aug 17 | 245 | 498 | 1,220 | 21,276 | 0.042 |
National Express | Dr Ashley Steel | 04 Sep 17 | 5,888 | 356.8 | 21,008 | 15,416 | 0.003 |
Nexus Infrastructure | Richard Kilner | 31 Aug 17 | 13,000 | 190 | 24,700 | 13,000 | 0.034 |
Personal Assets Trust | Frank Rushbrook | 05 Sep 17 | 4 | 41,000 | 1,640 | 13,668 | 0.658 |
Personal Assets Trust | Frank Rushbrook | 05 Sep 17 | 4 | 41,035 | 1,641 | 13,672 | 0.658 |
PHSC† | Stephen King (ce) | 04 Sep 17 | 25,000 | 11.99 | 2,998 | 3,175,000 | 21.632 |
PHSC† | Stephen King (ce) | 04 Sep 17 | 15,000 | 12 | 1,800 | 3,190,000 | 21.734 |
Rosslyn Data Technologies† | Hugh Cox | 31 Aug 17 | 165,000 | 5.99 | 9,884 | 11,011,201 | 5.853 |
Shearwater† | David Williams (ch) | 06 Sep 17 | 6,151,000 | 4.5 | 276,795 | 119,734,994 | 12.416 |
Shearwater† | David Williams (ch) | 06 Sep 17 | 99,000 | 4.5 | 4,455 | 119,833,994 | 12.426 |
Sirius Minerals | Elizabeth Noel Harwerth | 04 Sep 17 | 7,373 | 26.84 | 1,979 | 86,482 | 0.002 |
Synectics | Michael Butler | 05 Sep 17 | 15,000 | 245 | 36,750 | 40,000 | 0.225 |
Ultra Electronics | Rakesh Sharma (ce) | 05 Sep 17 | 543 | 1,829.34 | 9,933 | 44,923 | 0.058 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Cropper (James)♥ | David Watson | 01 Sep 17 | 750 | 1,840 | 13,800 | 1,357 | 0.014 |
EVRAZ | Alexander Abramov (ch) | 04 Sep 17 | 723,872 | 313.22 | 2,267,283 | 302,068,451 | 21.280 |
EVRAZ | Alexander Abramov (ch) | 01 Sep 17 | 749,635 | 317.89 | 2,383,007 | 302,792,323 | 21.331 |
EVRAZ | Alexander Frolov (ce) | 04 Sep 17 | 361,394 | 313.22 | 1,131,944 | 150,837,368 | 10.626 |
EVRAZ | Alexander Frolov (ce) | 01 Sep 17 | 374,256 | 317.89 | 1,189,719 | 151,198,762 | 10.651 |
Ferrexpo | Chris Mawe (cfo) | 05 Sep 17 | 50,000 | 313.5 | 156,750 | 207,382 | 0.035 |
Ferrexpo | Oliver Baring | 05 Sep 17 | 4,000 | 312.91 | 12,516 | 16,130 | 0.003 |
Numis Corp | Lorna Tilbian | 01 Sep 17 | 5,656,524 | 300 | 16,969,572 | 0 | 0.000 |
Oxford BioMedica♥ | Martin Diggle | 31 Aug 17 | 2,377,600 | 10.09 | 239,900 | 549,932,000 | 17.720 |
Redrow♥ | Steve Morgan (ch) | 12 Sep 17 | 25,900,000 | 590 | 152,810,000 | 120,386,045 | 32.560 |
SThree | Justin Hughes | 04 Sep 17 | 14,000 | 322.12 | 45,097 | 251,148 | 0.191 |
*Placing/tender/open offer ♥Spouse/connected party †Isa/Sipp/Trust/Pension |