DIRECTORS of Aberdeen Asset Management have sold around £14 million worth of shares with chief executive Martin Gilbert offloading more than £6.1m.
DIRECTORS of Aberdeen Asset Management have sold around £14 million worth of shares with chief executive Martin Gilbert offloading more than £6.1m.
Mr Gilbert sold almost 1.34 million shares, awarded through a deferred share bonus plan, at 461.1p each.
That leaves Mr Gilbert with 183,865 ordinary shares although he has other awards in the pipeline which could give him more than five million more.
A number of other executives at the fund manager also decided to trim their holdings by selling stock at 461.1p.
Hugh Young, managing director of Aberdeen Asset Management Asia, sold more than 904,000 shares which netted him almost £4.17m.
Chief investment officer Anne Richards received £1.76m from the sale of 382,138 shares while finance director Bill Rattray sold 242,094 shares which were worth £1.12m.
Deputy chief executive Andrew Laing received more than £800,000 from the sale of 173,589 shares.
A spokesman for Aberdeen Asset Management said: ??The sales involve deferred shares awarded to executive directors in previous years as part of their remuneration packages.
??A significant proportion of bonuses earned are paid in shares that are released in equal tranches over subsequent years. Directors therefore may choose to sell some of the shares they have accrued from time to time.
??These sales should not be interpreted as conveying a view on the group??s performance or its outlook and all the directors involved remain long-term investors in Aberdeen shares and products.??
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