Wetherspoon chief exec sells

John Hutson, the chief executive of pub operator JD Wetherspoon, has sold nearly one-third of his shareholding in the company.

Hutson sold 30,000 shares at 429p each, which leaves him with 61,628 shares.

This is the second sale in less than three months. He sold 20,000 shares at 516.8p a share early in April.

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Hutson has raised just over £232,000 from these two disposals.

Exeter University graduate Hutson joined Wetherspoon in 1991. He has been chief executive since April 2004.

Wetherspoon has scaled back its expansion plans after a deterioration in trading since the beginning of the year. Wetherspoon says it will open 45 pubs this financial year, less than the 50 it envisaged opening in its trading update in January.

Sales in the 13 weeks to April 25 were down by 0.8% on the same period last year, a sharper fall than the 0.4% decline seen in the previous six week period.

Top Director Buys

Vectura Group (VEC) Director name: Mr Jack CashmanAmount purchased: 345,666 @ 41.90p Value: £144,834

Soco International (SIA) Director name: Dr Mike J WattsAmount purchased: 23,553 @ 424.56p Value: £99,997

Capital & Counties Properties (CAPC) Director name: Mr Ian DurantAmount purchased: 50,000 @ 104.72p Value: £52,360

Mid Wynd International Inv Trust (MWY) Director name: Mr Russell Napier Amount purchased: 5,000 @ 960.00p Value: £48,000

Alternative Invest Strategies Sterling Hedged (AIS) Director name: Mr Duncan BaxterAmount purchased: 10,000 @ 103.00p Value: £10,300

Top Director Sells

Reckitt Benckiser Group (RB.) Director name: Mr Bart BechtAmount sold: 50,260 @ 3,251.27p Value: £1,634,088

Eurovestech (EVT) Director name: Mr Richard GroganAmount sold: 1,000,000 @ 13.50p Value: £135,000

JD Wetherspoon (JDW) Director name: Mr John HutsonAmount sold: 30,000 @ 429.00p Value: £128,700

Schroder Oriental Income Fund (SOI) Director name: Mr Peter RiggAmount sold: 10,000 @ 128.11p Value: £12,811