Victrex chief executive David Hummel's charitable foundation has raised £513,000 from selling shares in the thermoplastic polymers manufacturer.
Hummel is a trustee of The Hummingbird Foundation Inc which sold 50,000 shares at £10.27 each. This is a regular sale. In each of December 2009 and June 2009, The Hummingbird Foundation sold 50,000 shares. It received 796p a share in last December and 561p a share one year ago.
This indicates just how well the Victrex share price has performed over the past year.
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Victrex increased underlying revenue by more than one-third in the six months to March 2010, while underlying pre-tax profit improved from £21.1m to £31.8m.
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Broker KBC Peel Hunt edged up its profit forecast for 2009-10 to £75m, or 64.6p a share. The 2010-11 profit forecast was increased by 12% to £90m, or 77.6p a share. The broker set a target price of £12 a share.
The business is cash generative and net cash is £52.1m.
Top Director Buys
Ted Baker (TBK) Director name: Mr Lindsay D PageAmount purchased: 225,000 @ 506.00p Value: £1,138,500
Tristel (TSTL) Director name: Mr Francisco Angel SolerAmount purchased: 200,000 @ 51.50p Value: £103,000
Deo Petroleum (DEO) Director name: Mr David MarshallAmount purchased: 641,100 @ 13.00p Value: £83,343
Henderson Group (HGG) Director name: Ms Shirley Garrood Amount purchased: 50,249 @ 131.22p Value: £65,937
Deo Petroleum (DEO) Director name: Mr Gregor John GoodwinAmount purchased: 384,700 @ 13.00p Value: £50,011
Mid Wynd International Inv Trust (MWY) Director name: Mr Russell Napier Amount purchased: 5,000 @ 945.00p Value: £47,250
PayPoint (PAY) Director name: Mr Dominic TaylorAmount purchased: 16,150 @ 287.66p Value: £46,457
PayPoint (PAY) Director name: Mr George EarleAmount purchased: 12,224 @ 287.66p Value: £35,164
Deo Petroleum (DEO) Director name: Mr Kevin BurkeAmount purchased: 128,200 @ 13.00p Value: £16,666
TR Property Inv Trust Sigma Shares (TRYS) Director name: Mr Peter WoltonAmount purchased: 25,000 @ 61.41p Value: £15,352
Top Director Sells
Reckitt Benckiser Group (RB.) Director name: Mr Bart BechtAmount sold: 200,000 @ 3,250.64p Value: £6,501,280
Pacific Alliance Asia Opportunity Fund Ltd. (PAX) Director name: Mr Robert C KnappAmount sold: 3,379,956 @ $1.13 Value: $3,832,870
Ted Baker (TBK) Director name: Mr Lindsay D PageAmount sold: 250,000 @ 504.00p Value: £1,260,000
Dairy Farm International (Singapore) (DFI) Director name: Mr Howard Leonard MowlemAmount sold: 150,200 @ $6.30 Value: $946,681
Victrex (VCT) Director name: Mr D R HummelAmount sold: 50,000 @ 1,027.00p Value: £513,500
F&C Asset Management (FCAM) Director name: Mr Alain GrisayAmount sold: 650,000 @ 61.01p Value: £396,500
Tristel (TSTL) Director name: Mr Paul Christopher SwinneyAmount sold: 200,000 @ 51.50p Value: £103,000
F&C Asset Management (FCAM) Director name: Mr David LoganAmount sold: 100,000 @ 61.01p Value: £61,000
Iomart (IOM) Director name: Mr Sarah HaranAmount sold: 100,000 @ 57.00p Value: £57,000
Henderson Group (HGG) Director name: Mr Andrew FormicaAmount sold: 36,834 @ 131.22p Value: £48,334
