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Former 888 boss sells on his way out

Former chief executive of the online gaming company stepped down from the role in January after 14 years at the company
April 24, 2019

In late January, Itai Frieberger stepped down as chief executive of 888 Holdings (888) after more than 14 years at the company, and was replaced by then chief operating officer Itai Pazner. Mr Frieberger’s sale of 2m shares at 152p each, equating to a cash-out of more than £3m, reflects that transition. He still owns more than 3.5m shares or nearly 1 per cent of those in issue, and has committed to not selling any more for at least 60 days. The former 888 boss will stay with the company through the transition period as a board director.

IC TIP: Hold at 151p

It has been a turbulent year for the online gaming company, with the shares losing nearly half their value over the past 12 months. The UK business has struggled with higher taxes and tighter rules around money laundering and determining the source of funds. It doesn’t appear that the company expects these headwinds to abate anytime soon – at the last set of results management said changing regulation would continue to play "a major role in dictating the future dynamics and size of the global online gambling industry".

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
AEW UK REIT Bimaljit Sandhu12 Apr 2019100,00090.7390,730750,0000.495
Albion Development VCT Lyn Goleby12 Apr 201923,01486.919,99923,0140.028
Baillie Gifford US Growth Trust Tom Burnet (ch)16 Apr 201930,750129.4139,79480,7500.036
Baillie Gifford US Growth Trust♥ Tom Burnet (ch)16 Apr 201930,750129.4139,794111,5000.049
Beazley John Reizenstein 17 Apr 201910,000558.61955,86210,0000.002
BlackRock Throgmorton Trust Christopher Samuel (ch)12 Apr 201911,460521.24159,73424,9600.034
Crown Place VCT Pam Garside 12 Apr 201942,61335.215,00042,6130.023
DX GroupRussell Black15 Apr 2019214,0001429,9602,144,8820.374
DX GroupRussell Black15 Apr 201971,000149,9402,215,8820.386
Eddie Stobart Logistics Stephen Harley 12 Apr 201910,000999,90020,0000.005
Eddie Stobart Logistics♥ Stephen Harley 12 Apr 201910,000999,90030,0000.008
Finsbury Food♥Stephen Boyd (fd)11 Apr 201930,0006720,1001,095,5430.840
Finsbury Food  Peter Baker (ch)17 Apr 201910,817788,43796,8170.074
Franchise Brands David Poutney11 Apr 2019100,00072.572,5003,410,7914.409
Hipgnosis Songs Andrew Wilkinson 17 Apr 201910,00010210,20025,0000.007
Hipgnosis Songs Simon Holden17 Apr 201920,00010220,40035,0000.010
Hipgnosis Songs Paul Burger17 Apr 20197,5001027,65022,5000.007
Jersey Electricity Peter Simon11 Apr 20192,21045610,0782,2100.019
Jersey Oil and Gas Marcus Stanton (ch)15 Apr 201915,00068.410,26064,1920.294
Jersey Oil and Gas Ronald Lansdell (coo)15 Apr 201925,00068.817,200950,0004.352
Merian Chrysalis Investment Co Simon Holden16 Apr 201920,00011022,00035,0000.018
Merian Chrysalis Investment Co Stephen Coe16 Apr 201910,90911012,00035,9090.019
Merian Chrysalis Investment Co Tim Cruttenden16 Apr 20199,0901109,9999,0900.005
Merian Chrysalis Investment Co Anne Ewing16 Apr 20197,5001108,2507,5000.004
Mitchells & Butlers Philip Urban (ceo)12 Apr 201915,115263.23639,788115,4760.027
NB Private Equity Partners John Falla 15 Apr 20192,000109021,8006,0000.013
NB Private Equity Partners William Maltby17 Apr 20199,5001090103,5509,5000.021
Personal Assets Trust Iain Ferguson 17 Apr 2019494047219,8312,3600.099
ReNeuron  Christopher Evans 11 Apr 20194,500221.59,968244,6050.773
ReNeuron  John Berriman (ch)11 Apr 201980,000225180,00090,4340.286
ReNeuron  Simon Cartmell11 Apr 20197,758225.551617,49815,6330.049
ReNeuron  Michael Owen11 Apr 20194,2372369,9994,2370.013
Rose Petroleum Matthew Idiens (ceo)11 Apr 20192,000,0001.7535,0003,620,2572.524
Saga Gareth Williams12 Apr 201911,38456.66,44343,8170.004
Saga Eva Eisenschimmel11 Apr 201917,44456.99,92617,4440.002
Saga Patrick O'Sullivan (ch)12 Apr 201930,0005717,100160,0000.014
Saga Julie Hopes15 Apr 201916,91057.39,68916,9100.002
Shield Therapeutics James Karis (ch)16 Apr 20194,000813,24086,6670.074
Shield Therapeutics James Karis (ch)15 Apr 201946,00081.537,49082,6670.071
SkinBioTherapeutics Catherine Prescott 15 Apr 201956,11217.829,99956,1120.044
Smith (DS) David Robbie11 Apr 201920,000341.868,36020,0000.001
STV  David Bergg16 Apr 201910,390383.0639,80010,3900.027
TP ICap Richard Berliand (ch)11 Apr 201950,000278.62139,31050,0000.009
Tungsten  Andrew Doman12 Apr 201960,00035.521,300101,6660.081
Tungsten  Andrew Doman12 Apr 201924,24241.2510,000222,6450.177
Tungsten  Andrew Doman12 Apr 201924,24241.2510,000246,8870.196
Tungsten  Andrew Doman12 Apr 201996,73741.349240,000198,4030.157
Tungsten  Andrew Doman12 Apr 20194,76241.99552,000251,6490.200
UIL Christopher Samuel17 Apr 201930,000198.259,46090,0000.101
UIL Christopher Samuel17 Apr 201910,000198.219,820100,0000.113
Yellow Cake*Andre Liebenberg 16 Apr 201935,53321576,39673,2070.083
Yellow Cake*Alexander Downer16 Apr 20193,5532157,63929,9250.034
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
888 Holdings Itai Frieberger15 Apr 20192,000,0001523,040,0003,511,2970.964
ASOS Nicholas Robertson16 Apr 2019410,0003722.515,262,2504,636,4145.528
Cohort Simon Walther (fd)15 Apr 20194,28736015,433148,4890.363
Cohort♥ Simon Walther (fd)15 Apr 20195,55636020,002147,2070.359
Gamma Communications Andrew Stone16 Apr 2019200,00010952,190,000nil0.000
Instem♥David Gare (ch)11 Apr 2019580,0002901,682,000578,4273.560
Instem David Sherwin11 Apr 2019200,000290580,0001,180,0667.263
        
* placing/tender/open offer ♥ spouse/connected party