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WH Smith Chief sells 40% of her shares in the firm
Tue, 22 May, 2012
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WH Smith Chief sells 40% of her shares in the firm
Thu, 2 Feb 2012, 16:40:00
Kate Swann, Chief Executive of
WH Smith
, the books and stationary retailer, has sold a sizeable chunk of her stake in the firm to raise capital to buy herself more property, according to a company spokesperson. Swann, who is widely held responsible for turning the company around since her arrival in 2003, sold off 425,000 shares at 550.74p each, for a total of £2.34m. The sale equates to 40% of her previously owned stake. She now holds 0.47% of the firm's shares and remains the largest single shareholder. The chain has done well in the past year, gaining 18% on its share price, although suffering a little of late. However, the firm most recently reported that its rate of decline has eased as sales in the final month of 2011 were not hit by fierce weather conditions like they were in 2010. Swann said in the report that the company had put in a resilient performance in difficult trading conditions. "Gross margin was in line with plan and costs were tightly controlled," she said.
Top Director Buys
Virgin Media Inc. (VMED) Director name: Mr William Huff Amount purchased: 187,500 @ 1,775.84p Value: £3,329,700 Virgin Media Inc. (VMED) Director name: Mr William Huff Amount purchased: 62,500 @ 973.48p Value: £608,425 Probability (PBTY) Director name: Mr Mark Davies Amount purchased: 32,894 @ 76.00p Value: £24,999 Herald Inv Trust (HRI) Director name: Mr Stewart Newton Amount purchased: 5,000 @ 490.50p Value: £24,525 Cranswick (CWK) Director name: Mr Steven Esom Amount purchased: 1,441 @ 793.00p Value: £11,427
Top Director Sells
WH Smith (SMWH) Director name: Ms Kate Swann Amount sold: 425,000 @ 550.74p Value: £2,340,645 Virgin Media Inc. (VMED) Director name: Mr William Huff Amount sold: 44,734 @ 1,922.15p Value: £859,855 Babcock International Group (BAB) Director name: Mr William (Bill) Tame Amount sold: 60,531 @ 741.30p Value: £448,716 Cranswick (CWK) Director name: Mr Martin T P Davey Amount sold: 25,000 @ 790.00p Value: £197,500 Cranswick (CWK) Director name: Mr Bernard Hoggarth Amount sold: 25,000 @ 790.00p Value: £197,500 Cranswick (CWK) Director name: Mr Adam Couch Amount sold: 25,000 @ 790.00p Value: £197,500 Euromoney Institutional Investor (ERM) Director name: Mr Peter Richard Ensor Amount sold: 5,133 @ 685.00p Value: £35,161 Euromoney Institutional Investor (ERM) Director name: Mr Colin Robert Jones Amount sold: 2,000 @ 685.00p Value: £13,700 NR
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