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A mere bagatelle for Dart chairman

The chairman of the holiday group hived off 700,000 shares, but shareholders are facing a long hot summer
July 25, 2019

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.

IC TIP: Sell at 783p

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       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Angus Energy Patrick Clanwilliam (ch)16 Jul 191,515,1521.6525,0001,515,1520.280
Angus Energy Carlos Fernandes (fd)17 Jul 191,080,1091.82919,7551,080,1090.235
Capital Gearing Trust Graham Meek (ch)15 Jul 191,2504,28553,56316,0910.181
Capital Gearing Trust ♥Graham Meek (ch)15 Jul 191,0004,28542,85017,0910.192
Condor Gold *♥James Mellon15 Jul 196,250,000201,250,00014,078,10514.900
Condor Gold *Mark Child (ch and ceo)15 Jul 1950,0002010,0004,144,1674.886
Condor Gold *Andrew Cheatle 15 Jul 1925,000205,00089,8840.106
Cropper (James) Mark Cropper (ch)16 Jul 1939,0001,050409,5001,826,68819.118
Cropper (James) Mark Cropper (ch)17 Jul 191,4001,05014,7001,828,08819.133
Cropper (James)Philip Wild (ceo)16 Jul 196,0001,05063,00023,4970.246
Digitalbox Nigel Burton 15 Jul 19238,0956.8816,381829,5220.919
Dunelm Group Ian Bull11 Jul 194,000879.0835,1634,0000.002
Dunelm Group Laura Carr (cfo)17 Jul 1911,00087596,25036,0000.018
Dunelm Group Nick Wilkinson (ceo)17 Jul 1926,021880228,985113,7520.056
Ediston Property InvestmentColin Skinner 12 Jul 1925,00096.7524,18870,0000.033
Gateley (Holdings) Nigel Payne (ch)16 Jul 1914,992166.7524,99970,9180.064
Genedrive Ian Gilham (ch)17 Jul 1951,250199,738317,6740.934
Helical ♥Sue Farr12 Jul 196,000377.2522,6356,0000.005
ITE Richard Last (ch)11 Jul 192,40073.21,757422,4000.057
ITE Richard Last (ch)12 Jul 1977,60073.256,803500,0000.067
Jupiter Emerging & Frontier Income Trust Nicholas Moakes12 Jul 191,316100.281,32067,1780.075
Karelian Diamond Resources Richard Conroy (ch)16 Jul 19250,0003.58,7504,406,31112.776
Karelian Diamond Resources Richard Conroy (ch)16 Jul 19250,0003.79,2504,656,31113.501
Karelian Diamond ResourcesRichard Conroy (ch)16 Jul 19250,0003.869,6504,906,31113.264
Lekoil Gregory Eckersley16 Jul 19150,00046,0003,153,0500.588
Lekoil Olalekan Akinyanmi (ceo)16 Jul 19915,9504.238,47040,248,5017.502
Lookers ♥Tony Bramall12 Jul 194,178,77538.3881,604,14867,666,41117.384
Lookers Andrew Bruce (ceo)12 Jul 19192,00038.7574,400849,4260.218
Lookers Nigel McMinn 12 Jul 19200,00038.7577,500360,0000.092
Mercantile Investment Trust (The) Jeremy Tigue15 Jul 199,991199.219,902165,7260.021
Mereo BioPharma Denise Scots-Knight (ceo)17 Jul 192,00045900858,1990.876
Mereo BioPharma †Denise Scots-Knight (ceo)17 Jul 1910,0000.5185,180868,1990.886
Miton Global Opportunities Richard Davidson (ch)17 Jul 1912,975265.59534,46140,0000.143
North Atlantic Smaller Companies Inv Trust Charles Wake11 Jul 198003,09924,7928000.030
North Atlantic Smaller Companies Inv Trust ♥Peregrine Moncreiffe (ch)12 Jul 195003,10015,500420,6402.964
North Atlantic Smaller Companies Inv Trust ♥Peregrine Moncreiffe (ch)12 Jul 195003,12315,615418,1402.946
North Atlantic Smaller Companies Inv Trust ♥Peregrine Moncreiffe (ch)12 Jul 195003,12315,615418,6402.950
North Atlantic Smaller Companies Inv Trust ♥Peregrine Moncreiffe (ch)12 Jul 195003,12315,615419,1402.953
North Atlantic Smaller Companies Inv Trust ♥Peregrine Moncreiffe (ch)12 Jul 195003,12315,615419,6402.957
North Atlantic Smaller Companies Inv Trust ♥Peregrine Moncreiffe (ch)12 Jul 195003,12315,615420,1402.960
Personal Assets Trust Gordon Neilly12 Jul 19142,3754241,9230.077
Personal Assets TrustGordon Neilly16 Jul 19142,5004251,9240.077
Personal Assets Trust Iain Ferguson 16 Jul 19542,5002,1252,4240.097
Personal Assets Trust  ♥Iain Ferguson 16 Jul 19342,5001,2752,4270.097
Personal Assets Trust Robin Angus12 Jul 19242,3758484,8520.194
Personal Assets Trust ♥Robin Angus12 Jul 19242,3758484,8540.194
Personal Assets Trust Robin Angus16 Jul 19442,5001,7004,8580.194
Personal Assets Trust ♥Robin Angus16 Jul 19842,5003,4004,8660.194
Unicorn AIM VCT ♥Peter Dicks (ch)17 Jul 1910,00013913,90038,1000.029
Value and Income Trust Dominic Neary15 Jul 199,82026926,41624,5000.054
Walker GreenbankDianne Thompson (ch)15 Jul 1915,0008612,90015,0000.021
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Berkeley Group Holdings (The) Karl Whiteman12 Jul 1931,5003,817.291,202,447256,2700.201
D4t4 Solutions *John Lythall12 Jul 191,213,9602593,144,1561,000,0002.485
Dart GroupPhilip Meeson (ch and ceo)11 Jul 19200,000863.651,727,30055,040,00036.991
Dart Group Philip Meeson (ch and ceo)11 Jul 19500,000867.20074,336,00455,240,00037.126
Knights Balbinder Johal (ch)11 Jul 19490,0002751,347,500510,0000.695
Knights Mark Beech11 Jul 19603,4482751,659,482603,4480.823
Randall & Quilter Alan Quilter (ceo and cfo)11 Jul 19400,000180720,0002,992,0881.530
        
* placing/tender/open offer ♥ spouse/connected party       
† American Depositary Shares