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.

He sold the shares to meet his tax liabilities following the exercise of the shares and to diversify personal finances.

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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

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Top Director Sells

Kingfisher (KGF)

Director name: Mr Ian Cheshire

Amount sold: 994,482 @ 288.42p

Value: £2,868,285