Lancashire's president sells £1.39m worth of shares

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.

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

Sign up

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

NR