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Abramovich and Evraz directors sell off second big stake

Steelmaker's owners sell £160m-worth of shares in second major sale this year
July 4, 2019

In the words of Yogi Berra, it’s déjà vu all over again. Russian steel major Evraz’s (EVR) largest shareholder, Roman Abramovich, its chairman and chief executive have together sold 1.7 per cent of the company’s total stock, worth almost £160m, via an accelerated bookbuild. This is the second major sale by this group this year, with the first in March worth £151m, as the steelmaker’s share price reached new highs.

IC TIP: Buy at 665pp

Evraz declined to comment on the latest sale. According to a Reuters report, the company's chief financial officer said that the earlier transaction had the effect of reducing the risk of sanctions on Evraz. Mr Abramovich remains the largest shareholder with 28.8 per cent of the company.

The sale was done through the various holding companies of chairman Alexander Abramov (Abiglaze, registered in Cyprus), chief executive Alexander Frolov (Crosland Global, Cyprus) and Abramovich (Greenleas, British Virgin Islands). Outside those three, non-executive director Eugene Shvidler also sold 1.2m shares on 20 June, worth £7.5m.  

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Anglo American Stuart Chambers (ch)20 Jun 20194,6502,156.50100,2777,8020.001
Ashtead Angus Cockburn21 Jun 20191,0002,16021,6001,0000.000
Ashtead Paul Walker (ch)21 Jun 201914,0002,163302,82014,0000.003
Ashtead Lindsley Ruth24 Jun 20192,2502,20249,5452,2500.000
BangoRay Anderson (ceo)24 Jun 201920,9098016,7276,593,7259.359
BBGI SICAV SASarah Whitney21 Jun 201925,000152.738,17525,0000.004
BT Allison Kirkby21 Jun 201925,00020350,75025,0000.000
Burberry Julie Brown (cfo and coo)21 Jun 201924,0511,774.50426,785105,6930.026
Dixons Carphone Fiona McBain21 Jun 20199,000111.282610,01528,1290.002
Dixons Carphone Tony DeNunzio 21 Jun 2019100,000113.3847113,385200,0000.017
Dixons Carphone Alex Baldock (ceo)21 Jun 2019150,000113.72170,580375,5330.032
Dixons Carphone Eileen Burbidge 21 Jun 20194,200113.724,7764,2000.000
Dixons Carphone Ian Livingston (ch)21 Jun 2019100,000113.72113,720205,6310.018
Dixons Carphone Jonathan Mason (cfo)21 Jun 201975,000113.7285,290175,0000.015
Dixons Carphone Andrea Joosen21 Jun 20194,8001145,47224,9760.002
Dixons Carphone Gerry Murphy21 Jun 201950,000114.957,450100,0000.009
DraxJohn Baxter 26 Jun 20197,00026918,83010,0000.003
EMIS Andrew Thorburn (ceo)21 Jun 20195,0001,207.2060,36032,3150.051
EnQuest♥ Amjad Bseisu (ceo)21 Jun 2019505,28719.397,520163,290,6509.637
Ergomed Miroslav Reljanovic (ch)24 Jun 2019200,000303606,00011,155,76723.970
Everyman Media Paul Wise (ch)20 Jun 201910,00016816,8002,756,7523.811
Experian Ruba Borno21 Jun 20199222,423.7422,3472,0090.000
GB Group Christopher Clark (ceo)25 Jun 201954,626517282,416183,1500.095
IWG♥ Mark Dixon (ceo)24 Jun 2019207,039338.8701,448244,353,67127.289
MarloweKevin Quinn (ch)24 Jun 201911,20044549,84011,2000.027
Nanoco Alison Fielding26 Jun 2019119,26112.647515,084210,5860.074
Nanoco Michael Edelman (ceo)26 Jun 2019198,00012.7125,1661,324,7340.463
Nanoco Brian Tenner (cfo and coo)26 Jun 2019379,68913.149,739538,2320.188
Nanoco Nigel Pickett 26 Jun 2019189,42513.1224,85311,074,1193.869
Nanoco Christopher Richards (ch)26 Jun 2019350,00013.346,550635,4960.222
Non-Standard Finance Heather McGregor25 Jun 201940,00032.9813,192132,7000.043
Non-Standard Finance Miles Cresswell-Turner25 Jun 201970,00033.8823,7161,003,7800.322
Non-Standard Finance♥Miles Cresswell-Turner25 Jun 201924,00033.9848,1561,027,7800.329
Petropavlovsk Harry Kenyon-Slaney25 Jun 2019250,0009.9524,875250,0000.008
Petropavlovsk Robert Jenkins25 Jun 2019250,0009.9824,950250,0000.008
Playtech John Krumins26 Jun 20194,25040417,1704,2500.001
Playtech John Krumins26 Jun 20193,50040614,2107,7500.003
Playtech John Jackson26 Jun 20195,000408.94720,4475,0000.002
Provident Financial Graham Lindsay24 Jun 20199,771407.1939,7879,7710.004
Provident Financial Elizabeth Chambers 26 Jun 201912,000419.950,38812,0000.005
Provident Financial Paul Hewitt21 Jun 201911,569432.250,00121,0570.008
Seneca Global Income & Growth Trust♥ James McCulloch21 Jun 201925,000176.0944,023120,0000.247
Volvere†Jonathan Lander (ceo)20 Jun 20197,2871,21588,537240,03713.090
Volvere†Nicholas Lander (cfo and coo)20 Jun 20197,2871,21588,537131,9477.190
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Derwent London Simon Silver20 Jun 201925,0003,138.21784,552138,9540.124
EVRAZ♥  Alexander Abramov (ch)20 Jun 20198,284,63863552,607,451281,870,00319.410
EVRAZ♥  Alexander Frolov (ceo)20 Jun 20194,165,36263526,450,049140,723,7059.690
EVRAZ♥  Eugene Shvidler20 Jun 20191,182,7506357,510,46340,488,2422.790
Experian Don Robert (ch)20 Jun 2019550,0002,422.7113,324,911648,4350.071
Trainline Douglas McCallum (ch)26 Jun 20191,876,0063506,566,0213,484,0120.700
Trainline Shaun  McCabe (cfo)26 Jun 20191,406,9343504,924,2692,612,8790.500
Trainline Clare Gilmartin (ceo)26 Jun 20194,584,13635016,044,4768,513,3971.800
Volvere† David Buchler (ch)20 Jun 201984,8931,2151,031,45045,0002.450
        
*Placing/tender/open offer ♥Spouse/connected party       
†Volvere repurchased 70,319 shares at 1,215p each. The company's purchase and Mr Buchler's sale represent a related party transaction