Reckitt Benckiser chief executive Bart Becht has raised £6.5m from share sales in the household products supplier in the last two trading days of May.
Becht has sold 20,594 shares the day after disposing of 179,406 shares. The latest disposal is at 3250.25p a share, just below the 3250.83p a share achieved the day before.
Becht also gave 150,000 shares to a charitable trust last week. This remains part of his non-beneficial shareholding. He has made a number of transfers to the trust over the past few months.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Becht retains just over 1.68m shares in Reckitt Benckiser, which are worth more than £54m. He also has a non-beneficial holding in just short of 3m shares.
At the Reckitt Benckiser AGM in May just over 16% of the votes cast were against that directors' remuneration report. Becht had received £90m in 2009, including £87m worth of share options. However, Becht donated shares worth £110m to the charitable trust prior to the latest transfer.
Becht has been chief executive of Reckitt Benckiser for more than one decade. He had been with Benckiser for more than 11 years when it merged with Reckitt at the end of 1999.
Top Director Buys
Lupus Capital (LUP) Director name: Mr Les Tench Amount purchased: 55,000 @ 91.47p Value: £50,308
Soco International (SIA) Director name: Mr Rui C De SousaAmount purchased: 65,000 @ 60.00p Value: £39,000
Vernalis (VER) Director name: Dr George M KennedyAmount purchased: 100,000 @ 37.00p Value: £37,000
Land Securities Group (LAND) Director name: Mr Christopher BartramAmount purchased: 2,500 @ 604.50p Value: £15,112
Renovo Group (RNVO) Director name: Mr Rodger PannoneAmount purchased: 40,000 @ 26.00p Value: £10,400
Top Director Sells
Bankers Petroleum Ltd (BNK) Director name: Mr Robert M D CrossAmount sold: 1,000,000 @ 503.75p Value: £5,037,500
Bankers Petroleum Ltd (BNK) Director name: Mr Robert M D CrossAmount sold: 170,900 @ 505.18p Value: £863,353
Reckitt Benckiser Group (RB.) Director name: Mr Bart BechtAmount sold: 20,594 @ 3,250.25p Value: £669,356
St. Modwen Properties (SMP) Director name: Mr Anthony GlossopAmount sold: 48,500 @ 180.00p Value: £87,300
-
House prices rise 2.9% – will the recovery continue?House prices grew by 2.9% on an annual basis in September. Will Budget policies and ‘higher-for-longer’ rates dent the recovery?
-
Nvidia earnings: what to expectNvidia announces earnings after market close on 20 November. What should investors expect from the semiconductor giant?
