Richard Hartman, a Non-Executive Director of FTSE 250 firm Millennium and Copthorne Hotels, sold 132,694 shares in the company on April 3rd at a price of 478.00p each.
The £634,277 transaction followed the vesting of around 479,000 shares under the firm's long term incentive plan on March 30th 2009.
The company, which owns and manages over 100 hotels globally, has seen its stock fall almost 7% over the past year, equivalent to 34p.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
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
In February the firm reported a strong third quarter, with the revenue per available room up 7.8% compared to the third quarter of 2010.
On a like-for-like basis headline profit increased 19.9% to £42.1m on revenues of £198.2m (excluding a £44.2m land sale in Malaysia).
The problem for Millenium and Copthorne is the euro debt crisis which is having a chilling effect on business in Europe. In his statement the company's chairman Kwek Leng Beng acknowledges that the firm is "noticing more caution amongst business customers, reflecting anxiety about events affecting the Eurozone."
Top Director Buys
Next (NXT)
Director name: Mr C E Angelides
Amount purchased: 4,196 @ 2,956.80p
Value: £124,067
Next (NXT)
Director name: Mr Andrew John Varley
Amount purchased: 3,357 @ 2,956.80p
Value: £99,260
Next (NXT)
Director name: Mr David W Keens
Amount purchased: 3,357 @ 2,956.80p
Value: £99,260
Mariana Resources Ltd. (MARL)
Director name: Mr John Horsburgh
Amount purchased: 500,000 @ 7.25p
Value: £36,250
Fidessa Group (FDSA)
Director name: Mr Chris Aspinwall
Amount purchased: 1,950 @ 1,631.30p
Value: £31,810
Sigma Capital Group (SGM)
Director name: Mr John Hamilton
Amount purchased: 285,714 @ 7.01p
Value: £20,029
International Greetings (IGR)
Director name: Mr Anthony Lawrinson
Amount purchased: 35,000 @ 49.00p
Value: £17,150
Legal & General Group (LGEN)
Director name: Mrs Julia Wilson
Amount purchased: 8,163 @ 130.08p
Value: £10,618
Sigma Capital Group (SGM)
Director name: Mr David Sigsworth
Amount purchased: 150,000 @ 7.01p
Value: £10,515
Sigma Capital Group (SGM)
Director name: Mr Gwynn Galloway Thomson
Amount purchased: 142,857 @ 7.01p
Value: £10,014
Top Director Sells
Pearson (PSON)
Director name: Ms Marjorie Scardino
Amount sold: 127,863 @ 1,186.00p
Value: £1,516,455
Pearson (PSON)
Director name: Ms Rona A Fairhead
Amount sold: 45,519 @ 1,186.00p
Value: £539,855
Pearson (PSON)
Director name: Mr Robin Freestone
Amount sold: 45,519 @ 1,186.00p
Value: £539,855
Pearson (PSON)
Director name: Mr John Makinson
Amount sold: 45,519 @ 1,186.00p
Value: £539,855
Pearson (PSON)
Director name: Mr Will Ethridge
Amount sold: 43,352 @ 1,186.00p
Value: £514,155
Interserve (IRV)
Director name: Mr Adrian M Ringrose
Amount sold: 45,368 @ 297.48p
Value: £134,961
STV Group (STVG)
Director name: Mr Rob Woodward
Amount sold: 89,903 @ 124.00p
Value: £111,480
Interserve (IRV)
Director name: Mr Bruce Melizan
Amount sold: 27,005 @ 297.48p
Value: £80,334
Interserve (IRV)
Director name: Mr Steven Dance
Amount sold: 27,005 @ 297.48p
Value: £80,334
Portmeirion Group (PMP)
Director name: Mr B.W.J. Phillips
Amount sold: 13,575 @ 520.00p
Value: £70,590
NR
