Pearson chief sells £0.5m worth of shares

Marjorie Scardinom, chief executive of Pearson, has made multiple sales of her stake in the firm on the same day it announced plans to sell its 50% stake in FTSE International to the London Stock Exchange.

Scardinom, 64, sold 32,960 at 1,147.00p each, 12,040 at 1,140.59p, and 5,000 at 1,147.49p for a total of £572,752. She now holds 1,346,244 shares, equivalent to a 0.165% stake in the firm.

Pearson, which owns the Financial Times and Penguin books, will receive £450m for its stake in FTSE. Pearson expects that FTSE will make a total post-tax contribution to 2011 adjusted earnings of around £18m.

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Pearson was at pains to point out this sale is its exit "from companies that are primarily providers of financial data". Pearson's aim is to make money from its FT brand through the subscription model.

Scardino said: "Proud as we are of (our) long association, FTSE's strategy is different from our own. We wish it every success as we continue to build our digital business information services around the Financial Times."

Pearson shares are up 13% so far this year. Over the same time the FTSE 100 index is down 4.87%.

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Catlin Group Ltd. (CGL)

Director name: Mr John Barton

Amount purchased: 31,960 @ 401.80p

Value: £128,415

Standard Life European Private Equity Trust (SEP)

Director name: Mr Scott Dobbie

Amount purchased: 60,000 @ 126.00p

Value: £75,600

Lavendon Group (LVD)

Director name: Mr Don Kenny

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Rolls-Royce Group (RR.)

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City of London Group (CIN)

Director name: Mr Howard Goodbourn

Amount purchased: 40,000 @ 61.50p

Value: £24,600

Swallowfield (SWL)

Director name: Mr Roger McDowell

Amount purchased: 20,000 @ 117.00p

Value: £23,400

Grainger (GRI)

Director name: Mr Anthony Paul Wray

Amount purchased: 10,000 @ 101.00p

Value: £10,100

Top Director Sells

Pearson (PSON)

Director name: Ms Marjorie Scardino

Amount sold: 32,960 @ 1,147.00p

Value: £378,051

Pearson (PSON)

Director name: Ms Marjorie Scardino

Amount sold: 12,040 @ 1,140.59p

Value: £137,327

Centamin Egypt Ltd. (CEY)

Director name: Mr Trevor Stanley Schultz

Amount sold: 100,000 @ 91.30p

Value: £91,300

Pearson (PSON)

Director name: Ms Marjorie Scardino

Amount sold: 5,000 @ 1,147.49p

Value: £57,374

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