The president of Lancashire Holdings, the FTSE 250 insurance broker, has sold 330,000 shares in the firm less than one week after the firm paid a special dividend following a "solid performance".
Neil McConachie, who joined the firm in February 2006, sold 100,000 shares at 732p, 150,000 at £7.50 and 80,000 at 772p per share, for a total of £1,390,917.
Following the transaction, the director now holds 189,649 shares, equivalent to a 0.12% stake in the company.
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The firm, which has gained 23% on its share price over the past year, reported profit before tax retreated to $79.0m from $107.6m last year, but that did not stop the board from recommending a special dividend payment of 80 cents, although, in the circumstances, it was understandable that this failed to match the $1.40 special dividend announced with the third-quarter results last year.
Top Director Buys
Kofax (KFX)
Director name: Mr Reynolds Carl Bish
Amount purchased: 39,590 @ 244.90p
Value: £96,956
Capital & Regional (CAL)
Director name: Mr Louis Norval
Amount purchased: 138,812 @ 34.67p
Value: £48,126
Capital & Regional (CAL)
Director name: Mr Neno Haasbroek
Amount purchased: 138,812 @ 34.67p
Value: £48,126
Vislink (VLK)
Director name: Mr Andrew Sleigh
Amount purchased: 250,000 @ 19.00p
Value: £47,500
Kofax (KFX)
Director name: Mr Christopher J Conway
Amount purchased: 15,000 @ 241.00p
Value: £36,150
Hargreaves Lansdown (HL.)
Director name: Ms Tracey Taylor
Amount purchased: 12,650 @ 209.00p
Value: £26,438
Kofax (KFX)
Director name: Mr Reynolds Carl Bish
Amount purchased: 10,410 @ 245.00p
Value: £25,504
Top Director Sells
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 150,000 @ 750.00p
Value: £1,125,000
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 100,000 @ 732.00p
Value: £732,000
Lancashire Holdings (LRE)
Director name: Mr Neil William McConachie
Amount sold: 80,000 @ 772.00p
Value: £617,600
Microgen (MCGN)
Director name: Ms Anjum Siddiqi
Amount sold: 27,917 @ 148.00p
Value: £41,317
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