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Sportingbet director sells 8m shares

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Date: Tuesday 12 Aug 2003

LONDON (ShareCast) - Last month Sportingbet delivered its first ever profit at its European business, due largely to the acquisition of Sporting Odds.

Having also settled earn out terms with Sportsbook and agreed new credit terms with its banks, the group said it wanted to concentrate on organic growth, while also slashing debt, and “looks to the future with confidence.”

Somewhat surprisingly then given that confidence, deputy chairman Mark Blandford today sold 8m shares in Sportingbet at 31p each, netting £2,480,000 and taking his own holding down by a third to 17,130,173.

Sportingbet also recently ended bid talks with an unnamed bidder.

Top Director Sells

Sportingbet (SBT)
Director name: Mr Mark Blandford
Amount sold: 8,000,000 @ 31.00p
Value: £2,480,000

Workspace Group (WKP)
Director name: Ms Madeleine Carragher
Amount sold: 10,000 @ 1,182.00p
Value: £118,200

Abbeycrest (ACR)
Director name: Mr M N Lever
Amount sold: 40,000 @ 64.00p
Value: £25,600

Top Director Buys

Workspace Group (WKP)
Director name: Mr Bernard A Cragg
Amount purchased: 2,000 @ 1,190.00p
Value: £23,800.



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