Back in December 2016, housebuilder Berkeley Group (BKG) showed its frustration at the way its shares had been marked down in the wake of the referendum by electing to use some of the funds earmarked for paying dividends to buy shares back instead.
IC TIP:
Buy
at
3480p
A total of £68.5m was spent buying back shares in the first six months of the financial year, and further purchases are likely in the second half. Meanwhile, more shares are coming onto the market through directors’ sales. Chief executive Robert Perrins’ wife sold 500,000 shares, while veteran chairman and co-founder Tony Pidgley unloaded 750,000 shares.
Shareholders shouldn’t be worried as Mr Perrins still owns directly and indirectly around 1.7m shares, while Mr Pidgley is sitting on over 4m shares. Berkeley Group remains on track to deliver at least £3bn of pre-tax profit in the five years to April 2021 and £16.34 per share in dividends and share buybacks over the same period.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Aberdeen New India Investment Trust | Michael Hughes | 11 Sep 17 | 4,210 | 470 | 19,787 | 8,115 | 0.014 |
| Aeorema Communications* | Andrew Harvey | 13 Sep 17 | 50,000 | 18 | 9,000 | 130,000 | 1.436 |
| Aeorema Communications♥* | Richard Owen | 13 Sep 17 | 50,000 | 18 | 9,000 | 80,000 | 0.884 |
| Aeorema Communications* | Steve Quah | 13 Sep 17 | 181,010 | 18 | 32,582 | 481,010 | 5.315 |
| Allied Irish Banks | Simon Ball | 8 Sep 17 | 5,000 | 499.1 | 24,955 | 5,000 | 0.000 |
| Allied Irish Banks | T Foley | 13 Sep 17 | 2,500 | 500 | 12,500 | 2,501 | 0.000 |
| Bacanora Minerals | James Strauss | 7 Sep 17 | 42,857 | 70 | 30,000 | 102,857 | 0.078 |
| Bacanora Minerals | Mark Hohnen (ch) | 7 Sep 17 | 714,285 | 70 | 499,999 | 1,514,951 | 1.149 |
| Bank of Ireland | Richard Goulding | 7 Sep 17 | 2,000 | 682.1414 | 13,643 | 2,000 | 0.000 |
| Barclays♥ | Matthew Lester | 13 Sep 17 | 10,000 | 192.27 | 19,227 | 10,000 | 0.000 |
| Cairn Energy | Peter Kallos | 13 Sep 17 | 10,982 | 181.05 | 19,883 | 10,982 | 0.002 |
| Carclo | Chris Malley (ceo) | 8 Sep 17 | 14,144 | 141.4 | 20,000 | 159,726 | 0.218 |
| Countrywide♥ | Himanshu Raja (cfo) | 7 Sep 17 | 89,408 | 135 | 120,701 | 222,841 | 0.103 |
| Dixons Carphone | Andrea Joosen | 12 Sep 17 | 8,500 | 166 | 14,110 | 20,176 | 0.002 |
| EasyHotel | Scott Christie | 11 Sep 17 | 22,220 | 89.49 | 19,885 | 59,720 | 0.059 |
| FBD | Fiona Muldoon (ceo) | 7 Sep 17 | 4,000 | 838 | 33,520 | 4,000 | 0.012 |
| Faron Pharmaceuticals Oy | Jonathan Knowles | 8 Sep 17 | 63,000 | 725 | 456,750 | 110,712 | 0.397 |
| Frontier Developments♥ | Charles Cotton | 11 Sep 17 | 3,700 | 1350 | 49,950 | 139,669 | 0.371 |
| Inmarsat | Simon Bax | 8 Sep 17 | 2,500 | 646.25 | 16,156 | 20,500 | 0.004 |
| Inmarsat♥ | Simon Bax | 8 Sep 17 | 2,500 | 646.25 | 16,156 | 23,000 | 0.005 |
| Inspirit Energy* | John Gunn (ch & ceo) | 7 Sep 17 | 41,666,666 | 0.12 | 50,000 | 439,696,246 | 30.947 |
| JPMorgan American Investment Trust | Robert Talbut | 11 Sep 17 | 3,914 | 383.172 | 14,997 | 3,914 | 0.002 |
| Jackpotjoy | Colin Sturgeon | 11 Sep 17 | 5,000 | 763 | 38,150 | 5,000 | 0.007 |
| Jaywing | Philip Hanson | 13 Sep 17 | 34,462 | 38.5 | 13,268 | 34,462 | 0.040 |
| Marks & Spencer | Archie Norman (ch) | 8 Sep 17 | 10,000 | 319.83 | 31,983 | 10,000 | 0.001 |
| Marston's | Ralph Findlay (ceo) | 8 Sep 17 | 23,549 | 105.572 | 24,861 | 1,165,813 | 0.177 |
| Marston's | Ralph Findlay (ceo) | 8 Sep 17 | 23,572 | 105.47 | 24,861 | 1,189,385 | 0.180 |
| Numis | Alan Carruthers (ch) | 13 Sep 17 | 25,000 | 270.5 | 67,625 | 25,000 | 0.023 |
| PCI-PAL | Geoffrey Forsyth | 11 Sep 17 | 9,267 | 43 | 3,985 | 1,225,039 | 3.882 |
| PCI-PAL♥ | William Catchpole | 11 Sep 17 | 15,000 | 42.3 | 6,345 | 2,943,697 | 9.329 |
| QinetiQ | David Smith (cfo) | 8 Sep 17 | 8,936 | 223.8 | 19,999 | 38,734 | 0.007 |
| Richland Resources* | Bernard Olivier (ceo) | 12 Sep 17 | 2,857,143 | 0.7 | 20,000 | 8,777,715 | 1.849 |
| Richland Resources* | Nicholas Sibley | 12 Sep 17 | 11,428,571 | 0.7 | 80,000 | 60,490,503 | 12.744 |
| VPC Specialty Lending Investments♥ | Richard Levy | 7 Sep 17 | 74,165 | 79 | 58,590 | 1,799,173 | 0.478 |
| Vectura | James Ward-Lilley (ceo) | 7 Sep 17 | 82,918 | 90.45 | 74,999 | 461,860 | 0.068 |
| Vectura | Andrew Derodra (cfo) | 7 Sep 17 | 82,000 | 89.7 | 73,554 | 415,142 | 0.061 |
| Vectura | Bruno Angelici (ch) | 12 Sep 17 | 70,000 | 98.6582 | 69,061 | 162,903 | 0.024 |
| Wilmington | Derek Carter | 13 Sep 17 | 15,000 | 216 | 32,400 | 25,000 | 0.029 |
| Wilmington | Mark Asplin (ch) | 13 Sep 17 | 30,000 | 215 | 64,500 | 71,390 | 0.082 |
| XLMedia | Ory Weihs (ceo) | 11 Sep 17 | 148,148 | 135 | 200,000 | 3,839,848 | 1.879 |
| Xaar | Lily Liu (cfo) | 8 Sep 17 | 10,000 | 410.655 | 41,066 | 14,000 | 0.018 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Berkeley | Anthony Pidgley (ch) | 7 Sep 17 | 750,000 | 3,575 | 26,812,500 | 4,018,139 | 2.917 |
| Berkeley♥ | Glyn Barker | 8 Sep 17 | 300 | 3,582 | 10,746 | 14,742 | 0.011 |
| Berkeley | Glyn Barker | 8 Sep 17 | 900 | 3,576 | 32,184 | 13,842 | 0.010 |
| Berkeley | Glyn Barker | 8 Sep 17 | 2,860 | 3,571 | 102,131 | 10,982 | 0.008 |
| Berkeley♥ | Robert Perrins | 7 Sep 17 | 500,000 | 3,575 | 17,875,000 | 1,702,134 | 1.236 |
| Cairn Homes♥* | Michael Stanley (ceo) | 12 Sep 17 | 2,631,866 | 170 | 4,474,172 | 16,168,691 | 2.123 |
| Cairn Homes* | Michael Stanley (ceo) | 12 Sep 17 | 3,233,711 | 170 | 5,497,309 | 18,800,557 | 2.468 |
| Cairn Homes♥* | Alan McIntosh | 12 Sep 17 | 7,825,945 | 170 | 13,304,107 | 36,086,153 | 4.738 |
| Clarkson | Peter Anker | 12 Sep 17 | 107,477 | 2,700 | 2,901,879 | 250,000 | 0.827 |
| HSBC | Stuart Gulliver (ceo) | 13 Sep 17 | 138,143 | 731.76 | 1,010,875 | 3,939,830 | 0.020 |
| Kingspan | Geoff Doherty (cfo) | 12 Sep 17 | 15,000 | 3,385 | 507,750 | 240,351 | 0.134 |
| Metro Bank | Harry Lockhart | 7 Sep 17 | 15,000 | 3,334.79 | 500,219 | 40,689 | 0.046 |
| Redrow | John Tutte (ce) | 8 Sep 17 | 80,000 | 627.296 | 501,837 | 663,496 | 0.179 |
| Redrow♥ | Stephen Morgan (ch) | 12 Sep 17 | 12,950,000 | 590 | 76,405,000 | 81,486,045 | 22.035 |
| Redrow♥ | Stephen Morgan (ch) | 12 Sep 17 | 12,950,000 | 590 | 76,405,000 | 94,436,045 | 25.537 |
| Stadium | Charlie Peppiatt (ceo) | 8 Sep 17 | 50,000 | 125 | 62,500 | 186,263 | 0.488 |
| ZPG | Alex Chesterman (ceo) | 8 Sep 17 | 4,250,000 | 363 | 15,427,500 | 4,270,533 | 0.973 |
| *Placing/tender/open offer ♥Spouse/connected party | |||||||
