It’s never a profit until you take it, and while we believe there's still plenty of mileage in affordable housebuilder MJ Gleeson (GLE), Christopher Mills, a director of North Atlantic Smaller Companies Investment Trust, Oryx International Growth Fund and Harwood Capital has unloaded 1.5m shares at an average price of 725p a share. Shareholders shouldn’t be concerned, however, because he still has direct and indirect interests in more than 7m shares.
The share price has risen nearly 40 per cent in the past year, and it’s not hard to see why. Gleeson builds affordable houses in the north of England, and when we say affordable we mean at an average selling price of around £122,000. So two people working full-time on the minimum wage would earn enough to qualify for a big enough mortgage.
It’s also worth pointing out that this leaves potential buyers free from stamp duty even before the latest exemption announced in the Budget. The government is also very keen to encourage the construction of more affordable housing, which puts Gleeson in something of a sweet spot.
| Buys | ||||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) | |
| AVEVA | Rohinton Mobed | 24 Nov 17 | 3,000 | 2635 | 79,050 | 3,000 | 0.005 | |
| Babcock International | Mike Turner (ch) | 27 Nov 17 | 9,500 | 672.532 | 63,891 | 84,884 | 0.017 | |
| Babcock International | Archie Bethel (ceo) | 27 Nov 17 | 14,868 | 667.29 | 99,213 | 388,191 | 0.077 | |
| Be Heard* | David Wilkinson | 29 Nov 17 | 535,714 | 2.8 | 15,000 | 1,886,208 | 0.192 | |
| Be Heard* | Ian Maude | 29 Nov 17 | 178,571 | 2.8 | 5,000 | 2,605,989 | 0.265 | |
| Be Heard* | David Morrison | 29 Nov 17 | 2,142,857 | 2.8 | 60,000 | 2,142,857 | 0.218 | |
| Be Heard* | David Poutney | 29 Nov 17 | 3,892,857 | 2.8 | 109,000 | 10,692,857 | 1.089 | |
| Be Heard* | Peter Scott (ch) | 29 Nov 17 | 2,678,571 | 2.8 | 75,000 | 19,856,680 | 2.022 | |
| Be Heard* | Rakhi Parekh Goss-Custard | 29 Nov 17 | 178,571 | 2.8 | 5,000 | 764,325 | 0.078 | |
| Be Heard* | Robin Price (fd) | 29 Nov 17 | 357,142 | 2.8 | 10,000 | 2,897,227 | 0.295 | |
| Caledonia Investments♥ | William Wyatt (ceo) | 29 Nov 17 | 29,300 | 2720 | 796,960 | 1,139,785 | 2.058 | |
| Charles Stanley | Ben Money-Coutts (cfo) | 24 Nov 17 | 5,500 | 365 | 20,075 | 12,220 | 0.024 | |
| Chesnara | John Deane (ceo) | 24 Nov 17 | 10,000 | 350 | 35,000 | 29,677 | 0.020 | |
| D4t4 Solutions | John Lythall | 28 Nov 17 | 65,000 | 133.27 | 86,626 | 1,913,960 | 5.003 | |
| D4t4 Solutions | Roger McDowell | 29 Nov 17 | 200,000 | 123 | 246,000 | 1,550,000 | 4.051 | |
| DFS Furniture | Luke Mayhew | 23 Nov 17 | 12,500 | 197.9 | 24,738 | 44,121 | 0.021 | |
| Direct Line Insurance | Danuta Gray | 24 Nov 17 | 10,000 | 358.7 | 35,870 | 10,000 | 0.001 | |
| Frontier Developments | Charles Cotton | 28 Nov 17 | 8,550 | 1,296.10 | 110,817 | 148,219 | 0.394 | |
| Frontier Developments | David Walsh | 29 Nov 17 | 500 | 1,304.40 | 6,522 | 500 | 0.001 | |
| Frontier Developments | David Walsh | 29 Nov 17 | 1,200 | 1,311.76 | 15,741 | 3,500 | 0.009 | |
| Frontier Developments | David Walsh | 29 Nov 17 | 1,800 | 1,300.70 | 23,413 | 2,300 | 0.006 | |
| Haynes Publishing | Alex Kwarts | 29 Nov 17 | 10,792 | 195 | 21,044 | 25,792 | 0.171 | |
| Homeserve | Mark Morris | 27 Nov 17 | 6,235 | 811 | 50,566 | 71,716 | 0.022 | |
| IG Design | Mark Tentori | 29 Nov 17 | 7,404 | 405 | 29,986 | 7,404 | 0.012 | |
| MITIE | Derek Mapp (ch) | 29 Nov 17 | 40,000 | 203.57 | 81,428 | 140,000 | 0.039 | |
| Montanaro UK Smaller Companies Inv Tr | Arthur Copple | 28 Nov 17 | 10,000 | 576.94 | 57,694 | 15,000 | 0.045 | |
| Morrison (Wm) Supermarkets | Rooney Anand | 29 Nov 17 | 10,000 | 218.9 | 21,890 | 22,500 | 0.001 | |
| Mothercare | Mark Newton-Jones (ceo) | 24 Nov 17 | 150,738 | 66.34 | 100,000 | 534,710 | 0.313 | |
| Mothercare | Richard Rivers | 24 Nov 17 | 72,000 | 68.2 | 49,104 | 210,869 | 0.123 | |
| Nasstar♥ | Nigel Redwood (ceo) | 29 Nov 17 | 231,490 | 10 | 23,149 | 10,706,920 | 1.864 | |
| Nasstar♥ | Niki Redwood (fd) | 29 Nov 17 | 231,490 | 10 | 23,149 | 10,716,883 | 1.866 | |
| Norcros* | David McKeith | 23 Nov 17 | 2,941 | 172 | 5,059 | 17,941 | 0.022 | |
| Norcros* | Martin Towers (ch) | 23 Nov 17 | 26,363 | 172 | 45,344 | 160,817 | 0.201 | |
| Norcros* | Jo Hallas | 23 Nov 17 | 3,921 | 172 | 6,744 | 23,921 | 0.030 | |
| Norcros* | Nick Kelsall (ceo) | 23 Nov 17 | 235,507 | 172 | 405,072 | 1,151,391 | 1.440 | |
| Norcros* | Shaun Smith (fd) | 23 Nov 17 | 5,920 | 172 | 10,182 | 25,920 | 0.032 | |
| RIT Capital Partners♥ | Hannah Rothschild | 24 Nov 17 | 7,701 | 1948 | 150,015 | 14,261,140 | 9.180 | |
| RIT Capital Partners♥ | Lord Rothschild (ch) | 24 Nov 17 | 7,701 | 1948 | 150,015 | 9,904,096 | 6.375 | |
| Scapa | Graham Hardcastle (fd) | 28 Nov 17 | 15,000 | 481.6359 | 72,245 | 35,000 | 0.023 | |
| Scapa | Lawrence Pentz (ch) | 28 Nov 17 | 10,000 | 479.6 | 47,960 | 10,000 | 0.007 | |
| Spire Healthcare | Justin Ash (ceo) | 23 Nov 17 | 84,500 | 236.5 | 199,843 | 173,500 | 0.043 | |
| Spire Healthcare | Peter Bamford | 27 Nov 17 | 5,000 | 239.84 | 11,992 | 5,000 | 0.001 | |
| Thomas Cook | Paul Edgecliffe-Johnson | 23 Nov 17 | 17,852 | 111 | 19,816 | 17,852 | 0.001 | |
| Topps Tiles | Matthew Williams (ceo) | 28 Nov 17 | 300,000 | 64 | 192,000 | 2,018,696 | 1.028 | |
| Topps Tiles | Rob Parker (fd) | 28 Nov 17 | 40,000 | 64 | 25,600 | 417,895 | 0.213 | |
| Urban&Civic | Ian Barlow | 28 Nov 17 | 17,800 | 274.75 | 48,906 | 92,272 | 0.064 | |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Caspian Sunrise | Kairat Satylganov (cfo) | 27 Nov 17 | 29,745,958 | 7.41 | 2,204,175 | 175,682,697 | 10.522 |
| Clinigen | Chris Rigg | 23 Nov 17 | 4,955 | 1017 | 50,392 | 1,608 | 0.001 |
| Luceco | John Hornby (ceo) | 24 Nov 17 | 2,000,000 | 234.53 | 4,690,600 | 31,396,512 | 19.525 |
| MJ Gleeson♥ | Christopher Mills | 23 Nov 17 | 1,500,000 | 725 | 10,875,000 | 7,055,000 | 12.924 |
| Mincon♥ | Kevin Barry | 29 Nov 17 | 3,800,000 | 88.65877 | 3,369,033 | 11,117,800 | 5.281 |
| NAHL | Steve Dolton (cfo) | 23 Nov 17 | 10,000 | 150 | 15,000 | 898,999 | 1.952 |
| Nasstar | Lord Daresbury (ch) | 29 Nov 17 | 3,200,000 | 9.97 | 319,040 | 1,588,562 | 0.277 |
| Schroders | Michael Dobson (ch) | 23 Nov 17 | 51,678 | 3,508 | 1,812,864 | 151,394 | 0.067 |
| TBC Bank | Giorgi Shagidze (cfo) | 23 Nov 17 | 538 | 1650 | 8,877 | 4,565 | 0.009 |
| TBC Bank | Giorgi Shagidze (cfo) | 27 Nov 17 | 1,925 | 1,614.11 | 31,072 | 2,640 | 0.005 |
| TBC Bank | Stephan Wilcke | 27 Nov 17 | 10,000 | 1,593.75 | 159,375 | 51,075 | 0.096 |
| * placing/tender/open offer ♥ spouse/connected party | |||||||
