Rajan Tandon, a Non-Executive Director of FTSE 250 African energy firm Ophir, has ditched 10m shares in the firm, cashing in on the recent surge in its share price.
The director sold the shares for 500p for a total of £50m.
The sale comes just days after the company's share price leapt on the back of a record gas discovery off the coast of Tanzania. The firm said the 4.5tr cubic feet (TCF) of gas discovery at its Jodari-1 well, exceeded pre-drill estimates by 55%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Get 6 issues 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
The find marked the fourth consecutive gas discovery in the area for the joint venture between Ophir and BG Group - and the largest by Ophir in its history.
Ophir first listed in London in July 2011. Since then the shares have more than doubled in price.
Top Director Buys
Lonmin (LMI)
Director name: Dr Deenadayalan (Len) Konar
Amount purchased: 1,500 @ 1,032.86p
Value: £15,493
Polo Resources Ltd. (DI) (POL)
Director name: Mr Neil Lindsey Herbert
Amount purchased: 2,000,000 @ 3.30p
Value: £66,000
Shanks Group (SKS)
Director name: Mr Peter Dilnot
Amount purchased: 59,500 @ 98.40p
Value: £58,548
Songbird Estates (SBD)
Director name: Mr Alexander Heini Philip Midgen
Amount purchased: 44,500 @ 112.00p
Value: £49,840
Kenmare Resources (KMR)
Director name: Ms Elizabeth Headon
Amount purchased: 48,773 @ 50.23p
Value: £24,499
Songbird Estates (SBD)
Director name: Mr Alexander Heini Philip Midgen
Amount purchased: 22,000 @ 115.00p
Value: £25,300
Vislink (VLK)
Director name: Mr Oliver Ellingham
Amount purchased: 67,000 @ 32.50p
Value: £21,775
Hiscox Ltd. (HSX)
Director name: Ms Andrea Rosen
Amount purchased: 4,952 @ 393.78p
Value: £19,500
Hiscox Ltd. (HSX)
Director name: Mr Ernst Jansen
Amount purchased: 4,574 @ 393.78p
Value: £18,011
Pearson (PSON)
Director name: Mr Ken J Hydon
Amount purchased: 1,006 @ 1,170.00p
Value: £11,770
Top Director Sells
Prudential (PRU)
Director name: Mr Barry Stowe
Amount sold: 204,650 @ 749.89p
Value: £1,534,650
Aberdeen Asset Management (ADN)
Director name: Mr Martin J Gilbert
Amount sold: 300,000 @ 257.00p
Value: £771,000
Signet Jewelers Ltd. (SIG)
Director name: Mr Rob Anderson
Amount sold: 8,183 @ 3,082.15p
Value: £252,212
Aegis Group (AGS)
Director name: Mr Harold Mitchell
Amount sold: 100,000 @ 182.38p
Value: £182,380
Aegis Group (AGS)
Director name: Mr Harold Mitchell
Amount sold: 100,000 @ 181.30p
Value: £181,300
GW Pharmaceuticals (GWP)
Director name: Dr Stephen Wright
Amount sold: 140,000 @ 87.00p
Value: £121,800
Travis Perkins (TPK)
Director name: Mr Paul N Hampden Smith
Amount sold: 3,000 @ 1,039.04p
Value: £31,171
NR
'We face a £6m inheritance tax bill under Reeves's changes – it's sheer terror'
Millions of over 50s fear pension investment risk – how should you position your portfolio?
