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Clarkson director sells £1.74m-worth of shares

The director cut his stake in the shipping company by 71 per cent
Clarkson director sells £1.74m-worth of shares

At the announcement of the half-year results in August, Clarkson (CKN) was optimistic about the remainder of the year. The Baltic Dry Index, which monitors shipping activity, had begun to recover after having been 40 per cent weaker during the first half of 2019 than at the 2018 year-end. The International Maritime Organisation regulations limiting the amount of sulphur that can be released from fuel oil is set to take effect at the beginning of 2020, and is expected to reduce the oversupply of ships in the market, as some ships will be taken out of service to be fitted with the necessary sulphur reducing scrubbers.

IC TIP: Hold at 2465p

Such optimism could be tainted by a continuation of the US-China trade wars that has delayed some projects in the investment banking division.

Norway-based Birger Nergaard, a director of the company, reduced his shareholding in the company by 71 per cent to hold a remaining 30,869 shares. The 75,000 shares were sold at 2,326.25p each, for a total of £1.74m, via 'Acane AS' – an investment company in which Mr Nergaard has a 100 per cent interest. The disposal was done for personal tax planning purposes.

Buys       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Acorn Income Fund Nigel Ward (ch)25 Sep 197,000340.523,8357,0000.044
AFH Financial Mark Chambers23 Sep 198,62029024,99858,2230.136
Airtel AfricaLiisa Poutiainen 20 Sep 1911,00062.946,92311,0000.000
Amigo Richard Price19 Sep 19126,56973.292,649460,0000.097
Angus Energy♥George Lucan25 Sep 19719,0821.3849,9522,174,8800.402
Asiamet ResourcesAntony Manini (ch)19 Sep 19200,0003.256,50033,892,1833.090
Aviva Glyn Barker20 Sep 1925,000390.52897,63247,7000.001
Belvoir*Michael Stoop (ch)23 Sep 1910,00010510,50020,0000.057
Belvoir*Paul George23 Sep 1910,00010510,50020,0000.057
Bigblu BroadbandFrancis Waters (cfo)20 Sep 199,100109.759,987305,5800.531
Bonhill David Brown (fd)23 Sep 19192,30752100,000983,9732.025
Boot (Henry) Darren Littlewood (fd)19 Sep 195,000237.511,875152,5000.115
Cambridge Cognition Steven Powell (ch)20 Sep 1925,00026.56,625116,3750.481
Cambridge Cognition Steven Powell (ch)20 Sep 1925,00027.56,875141,3750.585
Cambridge Cognition Matthew Stork (ceo)24 Sep 1950,00028.514,25050,0000.207
Cenkos Securities Jeremy Miller19 Sep 1920,00051.7510,35020,0000.035
City of London Investment Susannah  Nicklin 19 Sep 191,1754224,9594,3090.016
Clinigen Nicholas Keher (cfo)19 Sep 193,90089334,8273,9000.003
Coral Products Joseph Grimmond (ch)25 Sep 19250,0005.6914,2255,623,3376.807
Coral Products Paul Freud25 Sep 19100,0005.695,6902,048,3332.479
Coral Products Joseph Grimmond (ch)25 Sep 19250,0005.79914,4985,873,3377.109
FalanxAlexander Hambro (ch)24 Sep 19250,0001.754,375500,0000.125
FalanxMichael Read (ceo)24 Sep 19400,0001.7897,15611,053,9402.761
FalanxAlexander Hambro (ch)24 Sep 19750,0001.97514,8131,250,0000.312
Hunters Property Harry Hill25 Sep 1930,00042.512,750642,5051.960
IG June Felix (ceo)19 Sep 197,800625.548,78997,0490.026
Inspiration Healthcare*Mike Briant (cfo)24 Sep 1934,3235819,90734,3230.089
Inspiration Healthcare*Mark Abrahams (ch)24 Sep 1986,0475849,907241,2010.628
Inspiration Healthcare*Brook Nolson24 Sep 1934,3235819,90734,3230.089
Landore Resources*William Humphries (ceo)24 Sep 1913,793,1030.725100,00087,294,3656.696
LoopUp Stephen Flavell (co-ceo)23 Sep 1989,2855650,0002,625,8754.763
LoopUp Michael Hughes (co-ceo)23 Sep 19133,5005674,7602,606,6274.728
LoopUp Simon Healey (cfo)23 Sep 1944,5005624,92064,5000.117
Menzies (John) Philipp Joeinig (ch)23 Sep 191,200,000390.34,683,6001,300,0001.543
Mereo BioPharmaDenise Scots-Knight (ceo)19 Sep 1913,500597,965911,6990.931
Murray Income TrustMerryn Somerset Webb23 Sep 191,200851.899910,2231,2000.002
Newmark SecurityRobert Waddington20 Sep 191,000,0000.6956,9502,800,0000.597
Personal Group Michael Dugdale (cfo)23 Sep 191,168350.754,09741,3530.134
Quixant Gaye Hudson19 Sep 195,000164.58,2257,3500.011
Safestyle Julia Porter21 Sep 199,67155.85,3969,6710.012
Sage Group (The) Jonathan Bewes23 Sep 1910,000680.468,04010,0000.001
Shearwater♥†David Williams (ch)25 Sep 195,000,0001.785,000nana
Shearwater♥†Philip Higgins (ceo)25 Sep 195,000,0001.7286,000nana
Shires Income Robin Archibald20 Sep 193,841260.3159,99915,5040.051
SVM UK Emerging Fund Peter Dicks (ch)24 Sep 1925,00086.521,625297,5004.917
UIL Peter Burrows (ch)19 Sep 1960,000248148,800799,6170.911
Wameja♥John Conoley (ch)20 Sep 19188,1145.39,9702,626,6920.217
XLMedia Ory Weihs (ceo)23 Sep 19100,0006060,0005,990,9723.202
XLMedia Ory Weihs (ceo)23 Sep 19224,00062138,8805,890,9722.849
Sells       
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Clarkson♥Birger Nergaard24 Sep 1975,0002,326.251,744,68830,8690.102
GAN Dermot Smurfit (ceo)20 Sep 19250,00084.92212,3008,613,44710.108
MJ Gleeson♥Christopher Mills 20 Sep 1950,000792396,0006,059,64011.101
MJ Gleeson♥Christopher Mills 20 Sep 194,640814.673337,8016,055,00011.092
Riverstone Energy♥††Ken Ryan/David Leuschen/Pierre Lapeyre, Jr19 Sep 19130,874662.99867,6826,791,4948.500
Riverstone Energy♥†††Ken Ryan/David Leuschen/Pierre Lapeyre, Jr19 Sep 19169,126662.991,121,2886,803,2428.515
        
*Placing/tender/open offer ♥Spouse/connected party      
†Share purchases were completed prior to the share capital consolidation of 100 to 1, effected on 26 Sep    
††Riverstone Energy Limited Capital Partners, LP – a personal closely associated (PCA) with three directors of Riverstone Energy – has sold 130,874 shares in the company.
†††REL Coinvestment, LP – a PCA with three directors of Riverstone Energy – has sold 169,126 shares in the company.