Paddy Power non-exec sells stake

published 19 November 2010

Paddy Power non-executive director Brody Sweeney has sold all his shares in the Irish bookie.

He sold 5,550 shares at €28.845 (3,403.71p) each, raising just over £135,000. The sale follows the company's trading statement earlier this week.

Sweeney is the founder of O'Brien's Irish Sandwich Bars and became a non-exec of Paddy Power in 2005.

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His fellow non-exec Stewart Kenny, a co-founder of Paddy Power, bought 209 shares at £24.46 each. That took his shareholding to 445,020 shares.

Paddy Power said trading since 1 July has been strong, with international and UK retail activities continuing to grow and Irish retail, online and telephone operations performing well, though Irish economic conditions have become more challenging.

'The strong growth in group profitability in the first six months has continued into the second half,' said chief executive Patrick Kennedy.

Paddy Power is creating 500 jobs in Ireland and other new jobs in the UK and Australia.

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Banco Santander SA (BNC) Director name: Mr Emilio BotinAmount purchased: 22,985 @ 705.26p Value: £162,104

Banco Santander SA (BNC) Director name: Mr Francisco Javier BotinAmount purchased: 22,985 @ 705.26p Value: £162,104

Celtic (CCP) Director name: Mr Brian Duffy Amount purchased: 107,000 @ 46.50p Value: £49,755

Fidelity Japanese Values (FJV) Director name: Sir Laurence MagnusAmount purchased: 40,000 @ 49.64p Value: £19,856

Keller Group (KLR) Director name: Mr Richard T ScholesAmount purchased: 3,000 @ 550.00p Value: £16,500

Top Director Sells

Paddy Power (PAP) Director name: Mr Brody SweeneyAmount sold: 5,550 @ 3,403.71pValue: £135,669

Shanta Gold Ltd. (SHG) Director name: Mr Walter David ScottAmount sold: 200,000 @ 27.50p Value: £55,000

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