Deputy Chairman Whittaker increases stake to 20%

published 17 August 2011

Billionaire property investor John Whittaker bought another round of shares in Capital Shopping Centres (CSC), bringing his total stake to more than 20%. Whittaker, who is deputy chairman and a non-executive director of CSC, purchased 306,500 shares of 50p each at an average price of 321.475p per share. The 69-year-old was appointed to his position at the start of this year following a controversial acquisition by CSC to acquire Manchester's Trafford Centre from the Peel Group, which Whittaker founded in 1971 and has directed ever since. The acquisition seems to be working out alright for the company, contributing to sharp growth in the group's underlying earnings in the first half of 2011. Net rental income from continuing operations in the six months to 30 June was up 32% to £178, from £135m in the first half of last year, while underlying earnings surged 53% to £66m from £43m. Underlying earnings per share (EPS) climbed 14% to 8.0p from 7.0p. Adjusted net asset value (NAV) per share on a diluted basis edged up to 391p from 390p at the end of 2010. CSC, which recently maintained its interim dividend at 5p, owns numerous other shopping centres including Gateshead Metrocentre. Top Director BuysCapital Shopping Centres Group (CSCG) Director name: Mr John Whittaker Amount purchased: 306,500 @ 321.48p Value: £985,336Telecom Plus (TEP) Director name: Mr Julian SchildAmount purchased: 30,000 @ 640.00p Value: £192,000Michael Page International (MPI) Director name: Mr Robin BuchananAmount purchased: 39,678 @ 368.60p Value: £146,253F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 89,109 @ 67.46p Value: £60,113TyraTech Inc. (Reg S) (TYR) Director name: Mr James (Jim) HillsAmount purchased: 50,000 @ 31.00p Value: £15,500Plant Health Care (PHC) Director name: Dr Dominik KoechlinAmount purchased: 25,238 @ 52.50p Value: £13,250Plant Health Care (PHC) Director name: Mr Jeremy ScudamoreAmount purchased: 20,000 @ 52.50p Value: £10,500Plant Health Care (PHC) Director name: Mr David BuckeridgeAmount purchased: 20,000 @ 52.50p Value: £10,500Plant Health Care (PHC) Director name: Mr Samuel A WauchopeAmount purchased: 20,000 @ 52.50p Value: £10,500Top Director SellsSandvine Corp. (SAND) Director name: Mr Dave CaputoAmount sold: 15,000 @ 121.84p Value: £18,276