Timing is everything. Philip Meeson, executive chairman of Dart Group (DTG), hived off 700,000 shares via two tranches in the package holidays business at the end of its close period at an average price of 866p a share – in line with the 12-month average, but in advance of the 200-day moving average. The share price has subsequently pulled back by 9.3 per cent, but we shouldn’t read too much into Mr Meeson’s apparent prescience in this matter given he still holds around 37 per cent of the company’s shares. Ergo, the £6.06m raised from the sales pales in comparison with his residual holding.
It’s not known if any of the sales receipts will be put towards holiday spending money, though if the chairman has delayed a decision on his summer break, he wouldn’t be alone. All the holiday companies have noted a trend towards late season bookings, so even if utilisation rates are maintained, unit profitability will come under pressure due to increased price competition and discounting – margins giving way to volumes.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Angus Energy | Patrick Clanwilliam (ch) | 16 Jul 19 | 1,515,152 | 1.65 | 25,000 | 1,515,152 | 0.280 |
Angus Energy | Carlos Fernandes (fd) | 17 Jul 19 | 1,080,109 | 1.829 | 19,755 | 1,080,109 | 0.235 |
Capital Gearing Trust | Graham Meek (ch) | 15 Jul 19 | 1,250 | 4,285 | 53,563 | 16,091 | 0.181 |
Capital Gearing Trust ♥ | Graham Meek (ch) | 15 Jul 19 | 1,000 | 4,285 | 42,850 | 17,091 | 0.192 |
Condor Gold *♥ | James Mellon | 15 Jul 19 | 6,250,000 | 20 | 1,250,000 | 14,078,105 | 14.900 |
Condor Gold * | Mark Child (ch and ceo) | 15 Jul 19 | 50,000 | 20 | 10,000 | 4,144,167 | 4.886 |
Condor Gold * | Andrew Cheatle | 15 Jul 19 | 25,000 | 20 | 5,000 | 89,884 | 0.106 |
Cropper (James) | Mark Cropper (ch) | 16 Jul 19 | 39,000 | 1,050 | 409,500 | 1,826,688 | 19.118 |
Cropper (James) | Mark Cropper (ch) | 17 Jul 19 | 1,400 | 1,050 | 14,700 | 1,828,088 | 19.133 |
Cropper (James) | Philip Wild (ceo) | 16 Jul 19 | 6,000 | 1,050 | 63,000 | 23,497 | 0.246 |
Digitalbox | Nigel Burton | 15 Jul 19 | 238,095 | 6.88 | 16,381 | 829,522 | 0.919 |
Dunelm Group | Ian Bull | 11 Jul 19 | 4,000 | 879.08 | 35,163 | 4,000 | 0.002 |
Dunelm Group | Laura Carr (cfo) | 17 Jul 19 | 11,000 | 875 | 96,250 | 36,000 | 0.018 |
Dunelm Group | Nick Wilkinson (ceo) | 17 Jul 19 | 26,021 | 880 | 228,985 | 113,752 | 0.056 |
Ediston Property Investment | Colin Skinner | 12 Jul 19 | 25,000 | 96.75 | 24,188 | 70,000 | 0.033 |
Gateley (Holdings) | Nigel Payne (ch) | 16 Jul 19 | 14,992 | 166.75 | 24,999 | 70,918 | 0.064 |
Genedrive | Ian Gilham (ch) | 17 Jul 19 | 51,250 | 19 | 9,738 | 317,674 | 0.934 |
Helical ♥ | Sue Farr | 12 Jul 19 | 6,000 | 377.25 | 22,635 | 6,000 | 0.005 |
ITE | Richard Last (ch) | 11 Jul 19 | 2,400 | 73.2 | 1,757 | 422,400 | 0.057 |
ITE | Richard Last (ch) | 12 Jul 19 | 77,600 | 73.2 | 56,803 | 500,000 | 0.067 |
Jupiter Emerging & Frontier Income Trust | Nicholas Moakes | 12 Jul 19 | 1,316 | 100.28 | 1,320 | 67,178 | 0.075 |
Karelian Diamond Resources | Richard Conroy (ch) | 16 Jul 19 | 250,000 | 3.5 | 8,750 | 4,406,311 | 12.776 |
Karelian Diamond Resources | Richard Conroy (ch) | 16 Jul 19 | 250,000 | 3.7 | 9,250 | 4,656,311 | 13.501 |
Karelian Diamond Resources | Richard Conroy (ch) | 16 Jul 19 | 250,000 | 3.86 | 9,650 | 4,906,311 | 13.264 |
Lekoil | Gregory Eckersley | 16 Jul 19 | 150,000 | 4 | 6,000 | 3,153,050 | 0.588 |
Lekoil | Olalekan Akinyanmi (ceo) | 16 Jul 19 | 915,950 | 4.2 | 38,470 | 40,248,501 | 7.502 |
Lookers ♥ | Tony Bramall | 12 Jul 19 | 4,178,775 | 38.388 | 1,604,148 | 67,666,411 | 17.384 |
Lookers | Andrew Bruce (ceo) | 12 Jul 19 | 192,000 | 38.75 | 74,400 | 849,426 | 0.218 |
Lookers | Nigel McMinn | 12 Jul 19 | 200,000 | 38.75 | 77,500 | 360,000 | 0.092 |
Mercantile Investment Trust (The) | Jeremy Tigue | 15 Jul 19 | 9,991 | 199.2 | 19,902 | 165,726 | 0.021 |
Mereo BioPharma | Denise Scots-Knight (ceo) | 17 Jul 19 | 2,000 | 45 | 900 | 858,199 | 0.876 |
Mereo BioPharma † | Denise Scots-Knight (ceo) | 17 Jul 19 | 10,000 | 0.518 | 5,180 | 868,199 | 0.886 |
Miton Global Opportunities | Richard Davidson (ch) | 17 Jul 19 | 12,975 | 265.595 | 34,461 | 40,000 | 0.143 |
North Atlantic Smaller Companies Inv Trust | Charles Wake | 11 Jul 19 | 800 | 3,099 | 24,792 | 800 | 0.030 |
North Atlantic Smaller Companies Inv Trust ♥ | Peregrine Moncreiffe (ch) | 12 Jul 19 | 500 | 3,100 | 15,500 | 420,640 | 2.964 |
North Atlantic Smaller Companies Inv Trust ♥ | Peregrine Moncreiffe (ch) | 12 Jul 19 | 500 | 3,123 | 15,615 | 418,140 | 2.946 |
North Atlantic Smaller Companies Inv Trust ♥ | Peregrine Moncreiffe (ch) | 12 Jul 19 | 500 | 3,123 | 15,615 | 418,640 | 2.950 |
North Atlantic Smaller Companies Inv Trust ♥ | Peregrine Moncreiffe (ch) | 12 Jul 19 | 500 | 3,123 | 15,615 | 419,140 | 2.953 |
North Atlantic Smaller Companies Inv Trust ♥ | Peregrine Moncreiffe (ch) | 12 Jul 19 | 500 | 3,123 | 15,615 | 419,640 | 2.957 |
North Atlantic Smaller Companies Inv Trust ♥ | Peregrine Moncreiffe (ch) | 12 Jul 19 | 500 | 3,123 | 15,615 | 420,140 | 2.960 |
Personal Assets Trust | Gordon Neilly | 12 Jul 19 | 1 | 42,375 | 424 | 1,923 | 0.077 |
Personal Assets Trust | Gordon Neilly | 16 Jul 19 | 1 | 42,500 | 425 | 1,924 | 0.077 |
Personal Assets Trust | Iain Ferguson | 16 Jul 19 | 5 | 42,500 | 2,125 | 2,424 | 0.097 |
Personal Assets Trust ♥ | Iain Ferguson | 16 Jul 19 | 3 | 42,500 | 1,275 | 2,427 | 0.097 |
Personal Assets Trust | Robin Angus | 12 Jul 19 | 2 | 42,375 | 848 | 4,852 | 0.194 |
Personal Assets Trust ♥ | Robin Angus | 12 Jul 19 | 2 | 42,375 | 848 | 4,854 | 0.194 |
Personal Assets Trust | Robin Angus | 16 Jul 19 | 4 | 42,500 | 1,700 | 4,858 | 0.194 |
Personal Assets Trust ♥ | Robin Angus | 16 Jul 19 | 8 | 42,500 | 3,400 | 4,866 | 0.194 |
Unicorn AIM VCT ♥ | Peter Dicks (ch) | 17 Jul 19 | 10,000 | 139 | 13,900 | 38,100 | 0.029 |
Value and Income Trust | Dominic Neary | 15 Jul 19 | 9,820 | 269 | 26,416 | 24,500 | 0.054 |
Walker Greenbank | Dianne Thompson (ch) | 15 Jul 19 | 15,000 | 86 | 12,900 | 15,000 | 0.021 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Berkeley Group Holdings (The) | Karl Whiteman | 12 Jul 19 | 31,500 | 3,817.29 | 1,202,447 | 256,270 | 0.201 |
D4t4 Solutions * | John Lythall | 12 Jul 19 | 1,213,960 | 259 | 3,144,156 | 1,000,000 | 2.485 |
Dart Group | Philip Meeson (ch and ceo) | 11 Jul 19 | 200,000 | 863.65 | 1,727,300 | 55,040,000 | 36.991 |
Dart Group | Philip Meeson (ch and ceo) | 11 Jul 19 | 500,000 | 867.2007 | 4,336,004 | 55,240,000 | 37.126 |
Knights | Balbinder Johal (ch) | 11 Jul 19 | 490,000 | 275 | 1,347,500 | 510,000 | 0.695 |
Knights | Mark Beech | 11 Jul 19 | 603,448 | 275 | 1,659,482 | 603,448 | 0.823 |
Randall & Quilter | Alan Quilter (ceo and cfo) | 11 Jul 19 | 400,000 | 180 | 720,000 | 2,992,088 | 1.530 |
* placing/tender/open offer ♥ spouse/connected party | |||||||
† American Depositary Shares |