Edward Strachan, an executive director of exhibitions organiser ITE, has raised £6.75m by selling more than half of his shareholding.
Strachan has sold 3m shares at 225p each. The shares were owned by Kyzyl Tan Consultants, where Strachan is the majority shareholder. Strachan still owns 2.675m shares.
Strachan has been with ITE since 1993 and he has been involved in starting up and running its Russian and CIS businesses.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
The disposal comes on the day that ITE bought Moscow-based International Exhibition Company CJSC (MVK) for €33m cash.
Latest Videos FromMoneyWeek
Top Director Buys
Modern Water (MWG) Director name: Mr Robert Clarke Amount purchased: 150,000 @ 62.75p Value: £94,125
Imperial Tobacco Group (IMT) Director name: Ms Alison CooperAmount purchased: 3,624 @ 1,919.82p Value: £69,574
Imperial Tobacco Group (IMT) Director name: Mr Robert DyrbusAmount purchased: 3,097 @ 1,919.82p Value: £59,457
Collins Stewart (CLST) Director name: Mr Nicholas (Nick) PageAmount purchased: 62,000 @ 80.50p Value: £49,910
Imperial Tobacco Group (IMT) Director name: Mr Graham BlashillAmount purchased: 2,262 @ 1,919.82p Value: £43,426
Aegis Group (AGS) Director name: Dr Martin ReadAmount purchased: 15,000 @ 139.80p Value: £20,970
Young & Co's Brewery 'A' Shares (YNGA) Director name: Mr David PageAmount purchased: 3,278 @ 610.00p Value: £19,996
Aegis Group (AGS) Director name: Mr John BradyAmount purchased: 10,000 @ 138.97p Value: £13,897
Imperial Tobacco Group (IMT) Director name: Mr Matthew PhillipsAmount purchased: 640 @ 1,919.82p Value: £12,287
Roeford Properties (ROE) Director name: Mr Michael Gerard DonovanAmount purchased: 500,000 @ 2.12p Value: £10,600
Top Director Sells
ITE Group (ITE) Director name: Mr Edward StrachanAmount sold: 3,000,000 @ 225.00p Value: £6,750,000
Imperial Tobacco Group (IMT) Director name: Mr Robert DyrbusAmount sold: 27,843 @ 1,919.82p Value: £534,535
Medilink-Global UK Ltd. (MEDI) Director name: Mr Shia Kok FatAmount sold: 1,500,000 @ 12.00p Value: £180,000
Imperial Tobacco Group (IMT) Director name: Ms Alison CooperAmount sold: 7,032 @ 1,919.82p Value: £135,002
Imperial Tobacco Group (IMT) Director name: Mr Graham BlashillAmount sold: 6,950 @ 1,919.82p Value: £133,427
Imperial Tobacco Group (IMT) Director name: Mr Matthew PhillipsAmount sold: 2,979 @ 1,919.82p Value: £57,191
Young & Co's Brewery 'A' Shares (YNGA) Director name: Mr Patrick DardisAmount sold: 3,278 @ 610.00p Value: £19,996
