Standard Chartered finance boss withdraws £170,000

published 11 April 2011

Standard Chartered's finance boss Richard Meddings has pocketed more than £170,000 from the sale of shares in the Asia-focused bank.

He disposed of 10,159 shares at 1,691p a time, reducing his stake to 120,000 shares.

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Standard Chartered last month reported that profits in 2010 were bang in line with forecasts at $6.12bn, while 2011 got off to a record start.

Profit before tax rose by just under a billion dollars from 2009's $5.15bn, with India contributing more than any other region to profits for the first time in the bank's history.

"Our deal pipelines remain very good," said Sands.

"In Consumer Banking ... we have seen continued steady income progress in the first month and start 2011 without the significant drag of liability margin pressure," Sands added.

Top Director Buys

BlueStar SecuTech Inc. (DI) (BSST) Director name: Mr Xiao GangAmount purchased: 1,300,000 @ 21.70p Value: £282,100

CLS Holdings (CLI) Director name: Ms Jennica MortstedtAmount purchased: 22,948 @ 648.00p Value: £148,703

Tex Holdings (TXH) Director name: Mr Matthew J CadburyAmount purchased: 67,435 @ 69.00p Value: £46,530

Goals Soccer Centres (GOAL) Director name: Mr Bill GowAmount purchased: 12,050 @ 126.20p Value: £15,207

RAB Capital (RAB) Director name: Mr Charles Kirwan-TaylorAmount purchased: 146,250 @ 10.39p Value: £15,195

Goals Soccer Centres (GOAL) Director name: Mr Bill GowAmount purchased: 8,033 @ 126.20p Value: £10,138

Top Director Sells

Standard Chartered (STAN) Director name: Mr Richard H MeddingsAmount sold: 10,159 @ 1,691.00p Value: £171,789

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