Activist hedge fund Browning West continues to build its position in Domino’s Pizza (DOM). The fund’s founder and chief investment officer, Usman Nabi, who is a non-executive director at Domino’s, acquired around 4.7m shares in three tranches of transactions, with a total aggregate value of £14.6m.
Browning West now has an 8.94 per cent holding in Domino’s. Neither Browning West nor Domino’s chose to comment on the dealings.
The first tranche of dealings took place after Domino’s confirmed the appointment of Matt Shattock as its new chairman on 10 March. Mr Shattock, a former British Army tank commander who is currently non-executive chairman at spirits group Beam Suntory, is the latest in a swathe of boardroom appointments that will also see Domino’s select a new chief executive and chief financial officer. Mr Shattock will lead the process to replace current chief executive David Wild and former chief financial officer David Bauernfeind, respectively. Mr Bauernfeind passed away in December 2019.
Browning West’s Mr Nabi himself took up his non-executive role on 11 November 2019, buying more than 2.8m shares on the following day and a further 1.4m shares the day after.
Browning West’s dealings also followed the release of Domino’s full-year 2019 results, which revealed a 13.8 per cent decline in the company’s pre-tax profits, although UK and Ireland sales rose 3.7 per cent and 3 per cent, respectively. In October, Domino’s announced that it was leaving behind its overseas markets, and the group is targeting the disposal of its Norway business in late May 2020.
Buys | ||||||
Company | Director/PDMR | Date | No. of shares | Price (p) | Aggregate value (£) | Comments |
Vesuvius | John McDonough (cha) | 10 Mar 20 | 20,000 | 39,751 | 79,502 | |
International Consolidated Airlines Group | Javier Sanchez-Prieto | 11 Mar 20 | 70,000 | 408.92 | 286,243 | Original price €4.606 |
Coats | Michael Clasper | 11 Mar 20 | 200,000 | 60.42 | 120,849 | |
Reckitt Benckiser | Aditya Sehgal | 11 Mar 20 | 10,000 | 5,579.94 | 557,994 | |
Barclays | Nigel Higgins (ch) | 11 Mar 20 | 250,000 | 118 | 294,203 | |
G4S | Ashley Almanza (ceo) | 11 Mar 20 | 100,000 | 105 | 105,251 | |
G4S | Tim Weller (cfo) | 11 Mar 20 | 85,000 | 106 | 90,100 | |
G4S | John Connolly (ch) | 12 Mar 20 | 275,000 | 95 | 261,459 | |
Spirax-Sarco Engineering | Clare Pike (pca) | 12 Mar 20 | 1,300 | 7,690 | 99,970 | Spouse of Jamie Pike, chairman |
Spirax-Sarco Engineering | Kevin Thompson | 12 Mar 20 | 1,300 | 7,675.39 | 99,780.00 | |
Domino's Pizza | Browning West | 10 Mar 20 | 2,152 | 292.3 | 6,290.30 | PCA of Usman Nabi, non-executive director |
Domino's Pizza | Browning West | 10 Mar 20 | 3,496 | 306.8 | 10,725.73 | |
Domino's Pizza | Browning West | 10 Mar 20 | 8,259 | 305.43 | 25,225.46 | |
Domino's Pizza | Browning West | 10 Mar 20 | 23,859 | 304.03 | 72,538.52 | |
Domino's Pizza | Browning West | 10 Mar 20 | 82,026 | 305.48 | 250,572.02 | |
Domino's Pizza | Browning West | 10 Mar 20 | 199,049 | 303.53 | 606,173.43 | |
Domino's Pizza | Browning West | 10 Mar 20 | 252,214 | 304.18 | 767,184.55 | |
Domino's Pizza | Browning West | 10 Mar 20 | 258,227 | 304.73 | 786,895.14 | |
Domino's Pizza | Browning West | 10 Mar 20 | 273,127 | 304.12 | 830,633.83 | |
Domino's Pizza | Browning West | 10 Mar 20 | 361,165 | 303.07 | 1,094,582.77 | |
Domino's Pizza | Browning West | 10 Mar 20 | 536,453 | 306.27 | 1,642,994.60 | |
Domino's Pizza | Browning West | 10 Mar 20 | 500,000 | 305.8 | 1,529,000.00 | |
Domino's Pizza | Browning West | 11 Mar 20 | 92 | 318.7 | 293.2 | |
Domino's Pizza | Browning West | 11 Mar 20 | 1,286 | 318.61 | 4,097.32 | |
Domino's Pizza | Browning West | 11 Mar 20 | 5,696 | 318.03 | 18,114.99 | |
Domino's Pizza | Browning West | 11 Mar 20 | 11,885 | 319.2 | 37,936.92 | |
Domino's Pizza | Browning West | 11 Mar 20 | 37,251 | 319.3 | 118,942.44 | |
Domino's Pizza | Browning West | 11 Mar 20 | 176,650 | 318.9 | 563,336.85 | |
Domino's Pizza | Browning West | 11 Mar 20 | 1,162,990 | 314.75 | 3,660,511.03 | |
Domino's Pizza | Browning West | 11 Mar 20 | 51,401 | 319.33 | 164,138.81 | |
Domino's Pizza | Browning West | 11 Mar 20 | 43,494 | 319.54 | 138,980.73 | |
Domino's Pizza | Browning West | 11 Mar 20 | 17,752 | 319.15 | 56,655.51 | |
Domino's Pizza | Browning West | 12 Mar 20 | 10,197 | 301.84 | 30,778.62 | |
Domino's Pizza | Browning West | 12 Mar 20 | 8,729 | 300.66 | 26,244.61 | |
Domino's Pizza | Browning West | 12 Mar 20 | 225,334 | 304.74 | 686,682.83 | |
Domino's Pizza | Browning West | 12 Mar 20 | 25,660 | 299.16 | 76,764.46 | |
Domino's Pizza | Browning West | 12 Mar 20 | 24,699 | 301.39 | 74,440.32 | |
Domino's Pizza | Browning West | 12 Mar 20 | 5,594 | 300.79 | 16,826.19 | |
Domino's Pizza | Browning West | 12 Mar 20 | 200,000 | 300 | 600,000.00 | |
Domino's Pizza | Browning West | 12 Mar 20 | 44,666 | 300.3 | 134,132.00 | |
Domino's Pizza | Browning West | 12 Mar 20 | 32,730 | 300.48 | 98,347.10 | |
Domino's Pizza | Browning West | 12 Mar 20 | 9,136 | 298.48 | 27,269.13 | |
Domino's Pizza | Browning West | 12 Mar 20 | 67,723 | 301.38 | 204,103.58 | |
Domino's Pizza | Browning West | 12 Mar 20 | 65,532 | 301.03 | 197,270.98 | |
Galliford Try | Bill Hocking (ceo) | 12 Mar 20 | 100,000 | 116.24 | 116,238.50 | |
Informa | Derek Mapp | 13 Mar 20 | 37,850 | 549.7324 | 208,073.71 | |
Croda International | John Ramsay | 13 Mar 20 | 1,925 | 4,048.12 | 77,926.40 | |
Croda International | John Ramsay | 13 Mar 20 | 75 | 4,075.00 | 3,056.25 | |
Rightmove | Andrew Fisher (ch) | 13 Mar 20 | 10,000 | 534.00 | 53,400.00 | |
Rightmove | Andrew Fisher (ch) | 16 Mar 20 | 10,000 | 484.50 | 48,450.00 | |
Crest Nicholson | Peter Truscott (ceo) | 16 Mar 20 | 30,000 | 311.16 | 93,347.22 | |
Derwent | Simon Silver | 16 Mar 20 | 3,500 | 2,932.00 | 102,620.00 | |
IWG | Estorn Limited | 16 Mar 20 | 2,000,000 | 151.20 | 3,024,000.00 | PCA of Mark Dixon, ceo. Weighted average price |
Softcat | Robyn Perriss | 17 Mar 20 | 15,000 | 1,002.00 | 150,300.00 |
Sells | ||||||
Company | Director/PDMR | Date | No. of shares | Price (p) | Aggregate value (£) | Comments |
Barclays | Paul Compton | 9 Mar 20 | 397,929 | 121.55 | 483,683.00 | |
Calisen | Bert Pijls (ceo) | 11 Mar 20 | 46,183 | 240 | 110,839.20 | |
Calisen | Sean Latus (cfo) | 11 Mar 20 | 14,467 | 240 | 34,720.80 |