Williams family buys back shares in Rightmove
A round-up of the biggest director deals today so far.
Rightmove managing director and founder Ed Williams's wife has bought back some of the shares he sold prior to the emergency budget.
Williams's wife Joanna Barkwill has paid just short of £500,000 to buy 75,964 shares in the estate agency at 653.62p each. That is a lot less than the £8m Williams received when he sold shares just over one week ago. He will have to pay 18% capital gains tax on that disposal but it would have been 28% if he had sold the shares after last Tuesday.
Even so, the Williams family has still reinvested a small proportion of the cash he will have left after the tax bill. The disposal was at 699.93p a share and the Rightmove share price has fallen back to 626.5p after the news that mortgage approvals fell unexpectedly in May.
The number of loans approved for house purchase in the UK came to 49,815, slightly below the 49,828 approved in April. Economists were looking for a rise to 51,000. It appears that housing activity is finding it difficult to return to former levels.
Rightmove is still buying back its shares. Today it bought 57,622 shares at 629.87p each.
Top Director Buys
Phoenix Group Holdings (PHNX) Director name: Mr Hugh OsmondAmount purchased: 212,000 @ 647.07p Value: £1,371,788
Rightmove (RMV) Director name: Mr Edmund WilliamsAmount purchased: 75,964 @ 653.62p Value: £496,516
Coastal Energy Company (DI) (CEO) Director name: Mr Bernard de CombretAmount purchased: 100,000 @ 270.89p Value: £270,890
Coastal Energy Company (DI) (CEO) Director name: Mr Bernard de CombretAmount purchased: 50,000 @ 272.02p Value: £136,010
Real Estate Investors (RLE) Director name: Mr John Rawcliffe Airey Crabtree OBE Amount purchased: 500,000 @ 6.50p Value: £32,500
Manx Financial Group (MFX) Director name: Mr Simon HullAmount purchased: 125,114 @ 10.95p Value: £13,700
Manx Financial Group (MFX) Director name: Mr Douglas Grant Amount purchased: 114,155 @ 10.95p Value: £12,500
Top Director Sells
Cranswick (CWK) Director name: Mr Martin T P DaveyAmount sold: 21,250 @ 858.00p Value: £182,325
Cranswick (CWK) Director name: Mr Bernard HoggarthAmount sold: 21,250 @ 858.00p Value: £182,325
Cranswick (CWK) Director name: Mr Adam CouchAmount sold: 21,250 @ 858.00p Value: £182,325
Signet Jewelers (SIG) Director name: Mr Russell WallsAmount sold: 1,278 @ 1,892.18p Value: £24,182