Capita Chief Exec drops 400,000 shares
A round-up of the biggest director deals today so far.
Paul Pindar, the Chief Executive of Capita, the FTSE 100 global business services group, has ditched 400,000 shares in the firm.
Pindar, who joined Capita in 1987 from 3i, sold off the shares for 685p each, earning him £2.74m.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
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
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The sale was made on the same day it announced plans to place 40m new shares to raise additional capital to make further bolt-on acquisitions and pay down debt.
The firm as already spent £91m in the year-to-date and anticipates spending at least the same again in the rest of the year through bolt-on acquisitions.
Meanwhile, it has £1,176m of private placement debt of which £123m matures between now and August 2015 with the remainder gradually maturing until 2012.
In 2010 Pindar infamously revealed his 2009 salary to be £768,750 to his disgruntled workers, some of whom were on minimum wage and already upset at receiving a measley bonus of just one per cent of their hourly rate.
Top Director Buys
Empresaria Group (EMR)
Director name: Mr Tony Martin
Amount purchased: 332,500 @ 28.93p
Value: £96,192
Shaft Sinkers Holdings (SHFT)
Director name: Mr Roger A Williams
Amount purchased: 50,000 @ 82.00p
Value: £41,000
HaloSource Inc. (Reg S) (HAL)
Director name: Mr Kent Johnson
Amount purchased: 125,000 @ 28.00p
Value: £35,000
Top Director Sells
Capita (CPI)
Director name: Mr Paul Pindar
Amount sold: 400,000 @ 685.00p
Value: £2,740,000
Brooks Macdonald Group (BRK)
Director name: Mr Nicholas Hugh Lawes
Amount sold: 10,000 @ 1,313.40p
Value: £131,340
-
One million more pensioners set to pay income tax in 2031 – how to lower your billHundreds of thousands of pensioners will be dragged into paying income tax due to an ongoing freeze to tax bands, forecasts suggest
-
Stock market circuit breaker: Why did Korean shares pause trading?The fallout from the conflict in the Middle East hit the Korean stock market on 4 March, with shares forced to temporarily stop trading. What is a stock market circuit breaker, and why did the KOSPI trigger one?
