Derwent London (DLN) founder and non-executive chairman John Burns has sold shares worth almost £5.3m in the group, retaining a 0.4 per cent stake. As announced last November, Mr Burns moved into his current role in May 2019 – replaced as chief executive by property director Paul Williams.
Shares in the London office developer and landlord have traded at a discount to net asset value (NAV) since the 2016 referendum, punished by investors nervous of a Brexit-induced downturn and consequent decline in office occupancy. However, the group – whose office portfolio is concentrated in the West End – has managed to continue to grow occupancy levels and agree rents above estimated rental values (ERV). By the end of September, £33.5m in lettings income was generated on 486,600 sq ft of space, at an average 7 per cent above December 2018 ERV.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Aberforth Smaller Companies Trust | Richard Davidson (ch) | 18 Nov 19 | 7,350 | 1,344.52 | 98,822 | 20,350 | 0.023 |
| Allied Minds | Jeffrey Rohr (ch) | 14 Nov 19 | 78,000 | 49.9353 | 38,950 | 100,913 | 0.042 |
| C4X Discovery Holdings * | Clive Dix (ceo) | 15 Nov 19 | 133,334 | 15 | 20,000 | 1,588,920 | 1.466 |
| C4X Discovery Holdings * | Craig Fox | 15 Nov 19 | 7,355 | 15 | 1,103 | 14,538 | 0.010 |
| C4X Discovery Holdings * | Harry Finch | 15 Nov 19 | 66,673 | 15 | 10,001 | 388,098 | 0.360 |
| C4X Discovery Holdings * | Natalie Walter | 15 Nov 19 | 66,666 | 15 | 10,000 | 66,666 | 0.062 |
| FirstGroup | Matthew Gregory (ceo) | 15 Nov 19 | 23,177 | 107.86 | 24,999 | 425,063 | 0.035 |
| FirstGroup ♥ | Ryan Mangold (cfo) | 15 Nov 19 | 5,373 | 110.68 | 5,947 | 187,007 | 0.015 |
| FirstGroup | Ryan Mangold (cfo) | 15 Nov 19 | 84,134 | 111.13 | 93,498 | 181,634 | 0.015 |
| FirstGroup ♥ | David Martin (ch) | 15 Nov 19 | 100,000 | 111.55 | 111,550 | 100,000 | 0.008 |
| Gamesys | Lee Fenton (ceo) | 19 Nov 19 | 34,900 | 712.6 | 248,697 | 729,026 | 0.670 |
| Gamesys | Robeson Reeves (coo) | 19 Nov 19 | 34,900 | 712.6 | 248,697 | 742,400 | 0.680 |
| Ingenta | Scott Winner (ceo) | 18 Nov 19 | 22,000 | 72.5 | 15,950 | 22,000 | 0.131 |
| JPMorgan Emerging Markets Inv Trust | Aidan Lisser | 15 Nov 19 | 2,700 | 979.5591 | 26,448 | 5,000 | 0.004 |
| Kape Technologies | David Cotterell | 19 Nov 19 | 40,000 | 102 | 40,800 | 88,544 | 0.060 |
| Kape Technologies | Moran Laufer (cfo) | 19 Nov 19 | 24,000 | 91 | 21,840 | 74,000 | 0.050 |
| LiDCO | James Wetrich | 15 Nov 19 | 19,900 | 6.2073 | 1,235 | 19,900 | 0.008 |
| Mobile Tornado | Jonathan Freeland | 14 Nov 19 | 200,000 | 4.285 | 8,570 | 3,381,014 | 0.890 |
| Morgan Advanced Materials | Laurence Mulliez | 18 Nov 19 | 5,320 | 279.044 | 14,845 | 6,580 | 0.002 |
| Mortgage Advice Bureau | Lucy Tilley (cfo) | 14 Nov 19 | 48 | 635 | 305 | 17,437 | 0.034 |
| Mortgage Advice Bureau | Ben Thompson | 14 Nov 19 | 46 | 635 | 292 | 113,046 | 0.219 |
| Oakley Capital Investments | Peter Dubens | 14 Nov 19 | 258,426 | 222.5 | 574,998 | 15,145,827 | 7.476 |
| Pacific Horizon Investment Trust | Richard Studwell | 14 Nov 19 | 2,000 | 323 | 6,460 | 2,000 | 0.003 |
| Picton Property Income | Maria Bentley | 15 Nov 19 | 25,000 | 92.53 | 23,133 | 25,000 | 0.005 |
| Picton Property Income | Maria Bentley | 15 Nov 19 | 25,000 | 92.94 | 23,235 | 50,000 | 0.009 |
| Picton Property Income | Maria Bentley | 15 Nov 19 | 24,436 | 92.5 | 22,603 | 74,436 | 0.014 |
| Reabold Resources | Sachin Oza (joint ceo) | 18 Nov 19 | 6,637,058 | 0.9 | 59,734 | 16,637,058 | 0.247 |
| Reabold Resources | Stephen Williams (joint ceo) | 18 Nov 19 | 2,222,111 | 0.9 | 19,999 | 12,222,111 | 0.182 |
| Reabold Resources | Anthony Samaha | 15 Nov 19 | 1,000,000 | 0.9 | 9,000 | 1,000,000 | 0.015 |
| Reabold Resources | Michael Felton | 18 Nov 19 | 5,577,755 | 0.9 | 50,200 | 8,386,431 | 0.125 |
| Speedy Hire | Rhian Bartlett | 14 Nov 19 | 44,170 | 55.76 | 24,629 | 44,170 | 0.008 |
| Speedy Hire | Rhian Bartlett | 15 Nov 19 | 30,574 | 58 | 17,733 | 74,744 | 0.014 |
| Stobart | David Shearer (ch) | 14 Nov 19 | 100,000 | 121 | 121,000 | 100,000 | 0.027 |
| Wentworth Resources | Iain McLaren | 12 Nov - 22 Nov 19 | 202,502 | 19.59 | 39,678 | 302,502 | 0.160 |
| Verona Pharma | David Ebsworth (ch) | 14 Nov 19 | 25,000 | 47 | 11,750 | 395,387 | 0.380 |
| Volex | Daren Morris (cfo) | 14 Nov 19 | 10,000 | 113 | 11,300 | 671,093 | 0.448 |
| Zegona Communications | Richard Williams | 15 Nov 19 | 37,283 | 94 | 35,046 | 62,570 | 0.030 |
| Xeros Technology * | Mark Nichols (ceo) | 19 Nov 19 | 5,000,000 | 1 | 50,000 | 5,500,000 | 0.700 |
| Xeros Technology * | David Armfield (ch) | 19 Nov 19 | 5,000,000 | 1 | 50,000 | 5,000,000 | 0.640 |
| Xeros Technology * | Paul Denney (cfo) | 19 Nov 19 | 5,000,000 | 1 | 50,000 | 5,500,000 | 0.700 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Anexo | Alan Sellers (ch) | 14 Nov 19 | 1,000,000 | 170 | 1,700,000 | 37,675,004 | 34.250003 |
| Derwent London | John Burns (ch) | 15 Nov 19 | 150,000 | 3,526.38 | 5,289,566 | 432,595 | 0.387 |
| Howden Joinery | Andrew Witts (coo) | 14 Nov 19 | 350,000 | 582.512 | 2,038,792 | na | na |
| Taylor Wimpey | Pete Redfern (ceo) | 19 Nov 19 | 2,150,000 | 174.232 | 3,745,988 | 1,533,144 | 0.047 |
