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Former Staffline CEO cashes in

Andy Hogarth has sold most of his stake in the group after stepping down as chief executive
February 8, 2018

After almost nine years as chief executive of Alternative Investment Market-traded recruiter Staffline (STAF), Andy Hogarth stepped down last month, making way for former finance director Chris Pullen to take his place. As Mr Hogarth settles into his new life as a non-executive director, he has sold most of his stake in the company, pocketing more than £10m in the process.

IC TIP: Hold at 980p

The sale reduces his stake to roughly a third of its original size, but Mr Hogarth has pledged not to sell any of his roughly 500,000 remaining shares in the group for at least 12 months. This will give Mr Pullen time to build up his own shareholding. He recently bought an additional 5,043 shares, but his stake amounts to just a little over 0.06 per cent – still well shy of Mr Hogarth’s newly diminished holding of 1.82 per cent. This at a time when the shares are struggling, having steadily de-rated since May last year.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Aggregated Micro PowerNeil Eckert (ch)30 Jan 1810,000909,0007,845,70018.165
Amati VCT 2*Michael Killingley29 Jan 182,864174.564,99952,6970.146
Arden PartnersDonald Brown (ceo)25 Jan 1850,0004522,500250,0000.807
Arden PartnersDonald Brown (ceo)26 Jan 1850,00044.7522,375300,0000.968
Beeks Financial CloudMark Cubitt (ch)25 Jan 1870,70749.535,00070,7070.144
Best of the BestDavid Firth31 Jan 185,00026013,0005,0000.049
Blue Prism*Chris Batterham30 Jan 185,2381,26065,999149,2380.227
Blue Prism*Ijoma Maluza (cfo)30 Jan 186341,2607,9886340.001
Blue Prism*Kenneth Lever30 Jan 185,5921,26070,45937,6430.057
Blue Prism*Charmaine Eggberry30 Jan 1826,7171,260336,634356,7170.542
British Empire TrustCalum Thomson31 Jan 181,400738.710,3427,6000.007
British Empire TrustAnja Balfour26 Jan 183,000740.7422,2223,0000.003
CC Japan Income & Growth TrustHarry Wells (ch)29 Jan 1810,000164.516,45040,0000.037
CC Japan Income & Growth TrustPeter Wolton29 Jan 1825,000164.541,12560,0000.055
CarcloMark Rollins25 Jan 1830,00084.2325,269100,0000.136
CyanConnodeJohn Cronin (ch)25 Jan 18200,00014.829,6002,413,4671.886
DiageoJavier Ferrán (ch)26 Jan 1830,0002541762,300145,6370.006
EU SupplyFredrik Wallmark (cfo)25 Jan 1810,00012.51,25020,0000.030
EU SupplyDavid Cutler (ch)30 Jan 1860,00014.758,850502,4770.742
EU SupplyThomas Beergrehn (ceo)26 Jan 1865,00013.58,7759,045,90313.359
Edinburgh Investment Trust (The)Glen Suarez (ch)26 Jan 1830,000700210,00037,0000.019
FFIAntony Mitchell29 Jan 18250,00088220,000250,0000.159
HICL Infrastructure CoFrank Nelson26 Jan 1815,000140.144721,02251,2140.003
HICL Infrastructure CoIan Russell (ch)26 Jan 1825,000139.8334,95894,3530.005
HICL Infrastructure CoSusie Farnon29 Jan 1817,200144.13824,79239,9310.002
Henderson Opportunities TrustPeter Jones (ch)30 Jan 187501,099.108,24314,0000.175
Mobile TornadoPeter Wilkinson31 Jan 182,000,0005100,00038,145,14112.782
Montanaro European Smaller Companies TrustRichard Curling31 Jan 185,000841.142,0555,0000.030
Mortgage Advice Bureau♥Nathan Imlach31 Jan 182445931,44726,6510.052
Mortgage Advice Bureau♥Richard Verdin31 Jan 182135931,26322,4240.044
Nexus InfrastructureGeoffrey French (ch)30 Jan 185,00026613,3005,0000.013
PCFChristine Higgins31 Jan 1819,50026.255,11919,5000.009
Phoenix Global MiningAndre Cohen30 Jan 18100,0004.44,4001,456,6690.634
Phoenix Global Mining♥Andre Cohen30 Jan 18100,0004.44,4001,556,6690.678
Phoenix Global MiningMarcus Edwards-Jones (ch)30 Jan 18107,1004.44,7122,805,8861.221
Porta CommunicationsJohn Foley (ch)31 Jan 184,700,0003.5164,5005,665,0791.240
Premier OilRoy Franklin (ch)31 Jan 1860,00083.1149,86660,0000.008
Produce InvestmentsBarry Clapham25 Jan 181,2991752,2735,932,76522.039
RenishawKathryn Durrant25 Jan 181985,0359,9691980.000
RenishawWilliam Lee26 Jan 184004,75219,0081,0000.001
Standard Life Private Equity TrustChristina McComb30 Jan 182,7503459,4887,1360.005
Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Blue Prism*Alastair Bathgate (ceo)30 Jan 18595,2381,2607,499,9995,063,2247.689
Gear4musicDean Murray31 Jan 185,00065632,800194,5200.932
Liontrust Asset Management♥Adrian Collins (ch)30 Jan 18200,0005901,180,0006,2490.013
LondonMetric PropertyPatrick Vaughan (ch)25 Jan 18165,255179.7296,96313,096,7451.878
LondonMetric PropertyPatrick Vaughan (ch)26 Jan 18134,745180.1242,67612,962,0001.859
Midwich♥Stephen Fenby26 Jan 181,000,0006206,200,00021,280,00026.785
Personal Assets TrustFrank Rushbrook29 Jan 1811040,80044,88013,6150.640
StafflineAndrew Hogarth30 Jan 181,006,1891,02010,263,128507,4401.822
SuperdryJulian Dunkerton26 Jan 181,000,0001,78017,800,00020,696,78825.355

* placing/tender/open offer ♥ spouse/connected party