Domino's directors deliver more shares

Domino's Pizza directors are selling again. This time it is via the pizza delivery company's tender offer at 292p a share. This tender replaced the original tender offer at 317p a share, which was scuppered by a fall in the share price.

There were 2.27m shares tendered by the closing date of 11 December. The company offered to buy up to 6m shares but most shareholders don't appear to have been interested.

The directors tendered 1.39m out of those 2.27m shares. That is equivalent to 61% of the shares, which is more than double their stake in the company.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

Sign up

Non-executive director Nigel Wray was the main seller. He sold 950,681 shares and raised £2.78m. Last month, Wray raised £3.24m from a share sale at 310p a share. He still owns 15.48% of Domino's Pizza. At the current share price of 288p, Wray's stake is valued at nearly £72m.

Colin Halpern, Stephen Hemsley and Christopher Moore all sold shares in November as well as in the tender but they sold a lot fewer shares in the tender.

Founder Colin Halpern raised £556,000 in the tender and retains 3.1% of Domino's.

Executive chairman Stephen Hemsley's family interests raised £449,000, while Moore raised nearly £280,000. Hemsley's continuing stake is 2.5% and Moore's 1.56%.

Analysts forecast 2009 profits of around £29m, rising to more than £30m in 2010. The shares are trading on more than 22 times prospective earnings for 2009.

Top Director Buys

The Conygar Investment Company (CIC) Director name: Mr Robert T E WareAmount purchased: 210,000 @ 116.50p Value: £244,650

The Conygar Investment Company (CIC) Director name: Mr Nigel J HamwayAmount purchased: 110,000 @ 119.00p Value: £130,900

The Conygar Investment Company (CIC) Director name: Mr Nigel J HamwayAmount purchased: 100,000 @ 115.00p Value: £115,000

The Conygar Investment Company (CIC) Director name: Mr Robert T E WareAmount purchased: 70,000 @ 115.64p Value: £80,948

Toumaz Holdings Limited (TMZ) Director name: Dr Winston WongAmount purchased: 750,000 @ 7.51p Value: £56,325

The Conygar Investment Company (CIC) Director name: Mr Robert T E WareAmount purchased: 50,000 @ 109.00p Value: £54,500

Globus Maritime (GLBS) Director name: Mr Elias DeftereosAmount purchased: 28,000 @ 93.00p Value: £26,040

Castle Asia (CASA) Director name: Mr R O DoreyAmount purchased: 30,000 @ 86.50p Value: £25,950

Globus Maritime (GLBS) Director name: Mr Arjun BatraAmount purchased: 25,000 @ 97.00p Value: £24,250

Kofax (KFX) Director name: Mr Joe RoseAmount purchased: 10,000 @ 185.00p Value: £18,500

Top Director Sells

Domino's Pizza UK & IRL (DOM) Director name: Mr Nigel WrayAmount sold: 950,681 @ 292.00p Value: £2,775,989

Xstrata (XTA) Director name: Mr Santiago ZaldumideAmount sold: 88,108 @ 1,050.70p Value: £925,751

Domino's Pizza UK & IRL (DOM) Director name: Mr Colin HalpernAmount sold: 190,453 @ 292.00p Value: £556,123

Synergy Healthcare (SYR) Director name: Mr Ivan M JacquesAmount sold: 80,000 @ 650.00p Value: £520,000

Synergy Healthcare (SYR) Director name: Mr Marcello SmitAmount sold: 75,000 @ 650.00p Value: £487,500

Domino's Pizza UK & IRL (DOM) Director name: Mr Stephen HemsleyAmount sold: 153,749 @ 292.00p Value: £448,947

Domino's Pizza UK & IRL (DOM) Director name: Mr Christopher MooreAmount sold: 95,785 @ 292.00p Value: £279,692

Xstrata (XTA) Director name: Mr Santiago ZaldumideAmount sold: 25,000 @ 1,058.80p Value: £264,700

Synergy Healthcare (SYR) Director name: Mr Ivan M JacquesAmount sold: 36,000 @ 650.00p Value: £234,000

Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L KeswickAmount sold: 4,000 @ $29.37 Value: $117,472