CLS executive chairman boosts stake to 53%

Sten Mortstedt bought 10,000 shares at 590p in property investment firm CLS Holdings where he is executive chairman.

The £59,000 transaction brings Mortstedt's total number of shares in the company to 24,319,079, equivalent to a 53.33% stake in the company.

The 71-year-old established CLS in 1987 and during his time as chairman he has continued to run a number of investments outside of the property arena, which he runs from his house in Switerland.

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In August, the company hailed a robust start to the year after profits jumped by a third in the first half.

The firm, which manages office properties in London, France, Germany and Sweden, said profit before tax for the period was up 32% to £37.1m, with earnings per share up 35% to 69.9p.

In the six months to 30 June 2011, its property portfolio gained 4.5% to £924.8m on a like-for-like basis, of which 2.9% was due to currency movements.

Vacancy rates fell slightly across the portfolio to 4.2%, down from 4.3% at the end of December.

The firm now intends to return £4.4m to shareholders this month by means of a buy-back of 1 in 72 shares at 700 pence per share.

Top Director Buys

CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 10,000 @ 590.00p Value: £59,000

EnQuest (ENQ) Director name: Dr James BuckeeAmount purchased: 50,000 @ 110.20p Value: £55,100

Huntsworth (HNT) Director name: Mr Eugene P. BeardAmount purchased: 47,125 @ 60.90p Value: £28,699

Huntsworth (HNT) Director name: Mr Eugene P. BeardAmount purchased: 30,000 @ 60.84p Value: £18,252

Top Director Sells

Diageo (DGE) Director name: Mr Paul S WalshAmount sold: 16,726 @ 1,247.00p Value: £208,573