Date: Friday 08 Jun 2012
Tony Wray, the Chief Executive Officer of Severn Trent, the FTSE 100 utility provider which serves eight million customers, has ditched 4,570 shares in the firm to cover his tax liabilities following the award of shares under a long-term incentive plan.
Wray traded the shares at 1,747p a pop, pocketing a tidy profit of £79,838 and leaving him with a total of 17,731 shares.
Only a week ago the director was forced to defend the company's decision to pay a special dividend of £150m, equal to 63p per share, despite a decline in annual profit and soaring consumer water bills.
In a statement made on May 30th, Wray said the company had "delivered outperformance" and its shareholders “provide the capital investment for us to keep investing in our networks”.
Profit before tax fell 38% to £156.7m in the year to the end of March, something the firm blamed on operational, infrastructure and employment costs.
Top Director Buys
Bank of Georgia Holdings (BGEO)
Director name: Mr Neil Janin
Amount purchased: 10,000 @ 1,070.00p
Mithras Inv Trust (MTH)
Director name: Mr John Mackie
Amount purchased: 25,000 @ 106.00p
Yule Catto & Co (YULC)
Director name: Mr Just Jansz
Amount purchased: 10,000 @ 190.00p
Director name: Mr Alan M Thomson
Amount purchased: 25,000 @ 73.05p
Mecom Group (MEC)
Director name: Mr Zillah Byng-Maddick
Amount purchased: 15,039 @ 74.19p
Top Director Sells
Director name: Mr Peter Williams
Amount sold: 50,000 @ 1,723.70p
Euromoney Institutional Investor (ERM)
Director name: Mr Diane Alfano
Amount sold: 10,000 @ 775.00p
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