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Non-exec's firm cashes in at Lancashire
Wed, 08 Feb, 2012
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Non-exec's firm cashes in at Lancashire
Mon, 28 Jun 2010, 16:30:00
<b>Lancashire Holdings</b> non-executive director Barry Volpert is chief executive of private equity firm Crestview, which has raised more than £4.7m from the sale of shares in the property, aviation and marine insurer. The share prices of the five separate disposals varied from 497p to just over 500p. Crestview still owns 3.6% of Lancashire. In a separate deal, Lancashire bought back 88,181 shares at 497.3p each. It bought back $12.9m worth of shares in the first quarter of 2010. Finance director Neil McConachie has sold 18,235 shares at 498p a share to raised £90,810. This is his second sale in June having raised just over £373,000 from the sale of 75,000 shares at 497.5p a share on the seventeenth. McConachie has been with Lancashire since February 2006. Bermuda-based Lancashire switched from AIM to the Main Market in March 2009. The last AIM share price was 470p a share but in January a special dividend of 76p a share was paid. That was followed by a final dividend of 6.4p a share in April. Lancashire had a book value per share of $7.38 at the end of March 2010. Net premiums written more than doubled from $99.2m to $203.5m in the first quarter of 2010. Lancashire has secured a $200m two year credit facility with Lloyds and will report its second quarter figures on 5 August. <b>Top Director Buys</b> Mid Wynd International Inv Trust (MWY) Director name: Mr Russell Napier Amount purchased: 5,175 @ 940.00p Value: £48,645 Tristel (TSTL) Director name: Mr Francisco Angel Soler Amount purchased: 75,000 @ 53.00p Value: £39,750 Chemring Group (CHG) Director name: Mr Kenneth C Scobie Amount purchased: 1,000 @ 2,992.00p Value: £29,920 Chemring Group (CHG) Director name: Mr Kenneth C Scobie Amount purchased: 1,000 @ 2,979.00p Value: £29,790 Trinity Mirror (TNI) Director name: Mrs Sylvia (Sly) Bailey Amount purchased: 33,724 @ 73.50p Value: £24,787 Trinity Mirror (TNI) Director name: Sir Sir Ian Gibson Amount purchased: 26,854 @ 74.10p Value: £19,899 Chamberlin and Hill (CMH) Director name: Mr Tom Brown Amount purchased: 15,000 @ 74.00p Value: £11,100 <b>Top Director Sells</b> Lancashire Holdings (LRE) Director name: Mr Barry Stuart Volpert Amount sold: 589,808 @ 500.00p Value: £2,949,040 Lancashire Holdings (LRE) Director name: Mr Barry Stuart Volpert Amount sold: 157,863 @ 500.00p Value: £789,315 Lancashire Holdings (LRE) Director name: Mr Barry Stuart Volpert Amount sold: 104,694 @ 500.42p Value: £523,910 New World Resources (NWR) Director name: Mr Steven Schuit Amount sold: 60,000 @ 712.90p Value: £427,740 Sainsbury (J) (SBRY) Director name: Mr Roger Burnley Amount sold: 100,000 @ 326.10p Value: £326,100 Lancashire Holdings (LRE) Director name: Mr Barry Stuart Volpert Amount sold: 48,630 @ 497.03p Value: £241,706 Lancashire Holdings (LRE) Director name: Mr Barry Stuart Volpert Amount sold: 41,683 @ 497.02p Value: £207,173 Lancashire Holdings (LRE) Director name: Mr Neil William McConachie Amount sold: 18,235 @ 498.00p Value: £90,810 Discovery Metals (CDI) (DME) Director name: Mr Gordon Galt Amount sold: 101,219 @ 62.27p Value: £63,029 Discovery Metals (CDI) (DME) Director name: Mr Gordon Galt Amount sold: 100,000 @ 61.77p Value: £61,770
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