Boohoo’s (BOO) founders offloaded a combined swathe of shares equivalent to 4.3 per cent of the issued share capital as part of an accelerated bookbuild to institutional investors. Mahmud Kamani – now executive chairman – offloaded 35m shares, netting close to £100m in the process, while Carol Kane, executive director, sold 15m for £42.7m.
Kamani and Kane retain holdings worth 13.1 and 2.7 per cent of the group’s issued share capital, respectively, and have agreed to an 18-month lock-in following the sales. A spokesperson said the sales were due to “personal financial planning”, but the news is still unlikely to be welcomed by shareholders, who have seen the share price begin to decline since the end of November.
Boohoo’s share price growth has been fuelled by rapid growth in sales and profits – revenues and profits have seen a compound annual growth rate of 57 per cent and 52 per cent respectively since 2015 – but anxiety has increased over how long such growth rates would be sustainable. Early indications are that the group’s attempt to expand into a more mature demographic through the acquisition of Karen Millen and Coast has been well-received, but this hasn’t stopped the shares from sliding 16 per cent from their high on 29 November.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Anglo Pacific | Graeme Dacomb | 4 Dec 19 | 5,000 | 180 | 9,000 | 25,000 | 0.010 |
| Future | Zillah Byng-Thorne (ceo) | 3 Dec 19 | 11,962 | 12.54 | 150,003 | 462,015 | 0.47 |
| Future | Penny Ladkin-Brand (cfo) | 3 Dec 19 | 7,974 | 12.54 | 99,994 | 519,666 | 0.53 |
| Intermediate Capital | Michael Nelligan | 3 Dec 19 | 6,576 | 1548.18 | 101,808 | 150,000 | 0.051 |
| Iomart | Richard Masters | 2 Dec 19 | 3,000 | 354.5 | 10,635 | 3,000 | 0.003 |
| Iomart ♥ | Richard Masters | 2 Dec 19 | 3,000 | 354.5 | 10,635 | 6,000 | 0.006 |
| M&C Saatchi | Jeremy Sinclair (ch) | 4 Dec 19 | 415,323 | 79.7 | 331,012 | 4,579,697 | 4.920 |
| M&C Saatchi | David Kershaw (ceo) | 4 Dec 19 | 415,323 | 79.7 | 331,012 | 4,579,697 | 4.920 |
| M&C Saatchi | Bill Muirhead | 4 Dec 19 | 415,323 | 79.7 | 331,012 | 4,579,697 | 4.920 |
| Reach | Jim Mullen (ceo) | 3 Dec 19 | 100,000 | 100 | 100,000 | 100,000 | 0.033 |
| U&I | Richard Upton | 3 Dec 19 | 12,751 | 149 | 18,999 | na | na |
| U&I | Richard Upton | 28 Nov 19 | 76,027 | 149 | 113,280 | na | na |
| Ten Lifestyle | Alan Donald (cfo) | 3 Dec 19 | 25,000 | 119 | 29,750 | 75,000 | 0.090 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Avast | Ulf Claesson | 4 Dec 19 | 500,000 | 434.4087 | 2,172,044 | 1,710,098 | 0.17 |
| Amigo Loans † | Stephan Wilcke (ch) | 28-29 Nov 19 | 1,800,000 | 63.5895 | 1,144,611 | 10,155,613 | 2.137 |
| Amigo Loans †† | Naynesh Patel | 28-29 Nov 19 | 703,514 | 65.3754 | 459,925 | 1,460,000 | 0.307 |
| Boohoo | Mahmud Kamani (ch) | 9 Dec 19 | 35,000,000 | 285 | 99,750,000 | 152,679,880 | 13.100 |
| Boohoo | Carol Kane | 9 Dec 19 | 15,000,000 | 285 | 42,750,000 | 31,330,421 | 2.700 |
| Kainos | Richard McCann (cfo and coo) | 29 Nov 19 | 1,500,000 | 580 | 8,700,000 | 4,711,582 | 3.880 |
| Londonmetric | Patrick Vaughan | 28 Nov 19 | 400,000 | 236.2 | 944,800 | 11,200,000 | 1.331 |
| * placing/tender/open offer/right issue ♥ spouse/connected party | |||||||
| † Shares sold by Stephan Wilcke ahead of a personal tax liability due in 2020 | |||||||
| †† Shares sold by Naynesh Patel ahead of a personal tax liability due in 2020 | |||||||
