Jon Kamaluddin, the international director of AIM-quoted online fashion retailer ASOS, has secured a near-£2.8m gain by exercising options and selling the shares immediately.
Kamaluddin exercised options over 80,000 shares at 43.5p a share and 96,995 shares at 58.25p a share. That is a total cost of £91,300. All of the 176,995 shares were then sold at 1610.83p each.
That raised £2.85m so the gain was £2.76m
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Kamaluddin owns 74,348 shares, worth more than £1.1m. He also has a further 167,408 share options.
ASOS shares are highly rated and the share price has been held up by buying by Danish fashion retailer Bestseller. It has built up a 18.27% stake in less than one year. Bestseller is owned by the Holch Povlsen family and its brands include Vero Moda, Jack&Jones and Villa.
A trading statement earlier this week said that there was a 156% improvement in overseas revenues to £43.7m in the three months to the end of December 2010. UK growth was slower but the overall improvement in revenues was 59% to £100m.
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Top Director Sells
ASOS (ASC) Director name: Mr Jonathan Damian KamaluddinAmount sold: 176,995 @ 1,610.83p Value: £2,851,089
Abbey Protection (ABB) Director name: Mr Adrian GreenAmount sold: 363,636 @ 77.00p Value: £280,000
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