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
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely 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
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.
Top Director Buys
ARC Capital Holdings Ltd. (ARCH) Director name: Mr Christopher M GradelAmount purchased: 247,000 @ $1.25 Value: $307,515
Phaunos Timber Fund Ltd. (PTF) Director name: Sir Henry Studholme Amount purchased: 75,000 @ $0.79 Value: $58,875
Witan Pacific Inv Trust (WPC) Director name: Mrs Seymour Williams Amount purchased: 15,000 @ 216.00p Value: £32,400
Rolls-Royce Group (RR.) Director name: Mr James M GuyetteAmount purchased: 3,116 @ 661.12p Value: £20,600
Personal Group Holdings (PGH) Director name: Mr Ken W RooneyAmount purchased: 4,425 @ 289.00p Value: £12,788
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
Mulberry Group (MUL) Director name: Mr Roger T MatherAmount sold: 3,850 @ 1,300.00p Value: £50,050
-
The top stocks in the FTSE 100After a year of strong returns for the UK’s flagship index, which FTSE 100 stocks have posted the best performance in 2024?
-
A junior ISA could turn your child’s pocket money into thousands of poundsPersuading your child to put their pocket money in a junior ISA might be difficult, but the pennies could quickly grow into pounds – and teach them a valuable lesson about money
