Kingfisher CEO sells incentive share scheme stock

Ian Cheshire, Chief Executive Officer of do-it-yourself retailer Kingfisher, has sold 994,482 shares in the company after earning them through the Performance Share Plan and the Kingfisher Incentive Share Scheme.

Cheshire earned himself £2.87m after selling the shares for 288.42p each. He now has just under 1.13m shares in the company.

MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues free

https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg

Sign up to Money Morning

Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter

At the end of May the company posted a 3.6% decline, or 1.3% on a constant currency (CC) basis, in total sales for the 13 weeks to April 28th from a year earlier at £2,632m, as poor weather across Europe affected footfall. Like-for-like (LFL) sales were down 4.8% on a CC basis.

The share price is up six per cent over the past year, and four per cent in the past month.

On Tuesday the share price fell 2.49% to 281.80p.

Top Director Buys

UMC Energy (UEP)

Director name: Mr Jonathan R Reynolds

Amount purchased: 500,000 @ 11.13p

Value: £55,650

TUI Travel (TT.)

Director name: Ms Janis C Kong

Amount purchased: 15,000 @ 174.20p

Value: £26,130

JPMorgan US Smaller Companies Inv Trust (JUSC)

Director name: Mr Mark Ansell

Amount purchased: 2,000 @ 964.02p

Value: £19,280

Top Director Sells

Kingfisher (KGF)

Director name: Mr Ian Cheshire

Amount sold: 994,482 @ 288.42p

Value: £2,868,285

MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.