Ultra boss sells

Date: Friday 04 Dec 2009

Ultra Electronics chief executive Douglas Caster has generated £5.85m from the sale of just over two-fifths of his shareholding in the defence electronics supplier.

He states in the announcement that the sale was for “family and tax planning reasons”.

Caster has also transferred his remaining 635,555 shares into the name of his wife Elizabeth Caster.

Caster started his career at Racal Electronics and he has subsequently worked for Schlumberger and Dowty. He joined Dowty in 1988 and became managing director of its sonar and communications systems business in 1992. He was involved the management buyout that formed Ultra in 1993 and became chief executive in April 2005.

Chairman, and former chief executive, Julian Blogh will retire in April 2011 and Caster will also retire as chief executive and take over as chairman. Rakesh Sharma becomes chief operating officer at the beginning of 2010.

Ultra’s interim management statement in November said that revenue continues to grow. The order book covers 60% of expected revenues for the next 12 months.

Top Director Buys

Mitie Group (MTO)
Director name: Mr Roger Matthews
Amount purchased: 40,000 @ 232.91p
Value: £93,164

Murray International Trust (MYI)
Director name: Mr James Douglas Best
Amount purchased: 5,300 @ 772.50p
Value: £40,942

Severfield-Rowen (SFR)
Director name: Mr Toby Hayward
Amount purchased: 20,000 @ 180.00p
Value: £36,000

Aberdeen Asset Management (ADN)
Director name: Mr Simon Troughton
Amount purchased: 20,000 @ 140.29p
Value: £28,058

Dialight (DIA)
Director name: Mr Richard Stuckes
Amount purchased: 10,440 @ 193.00p
Value: £20,149

Westhouse Holdings (WHL)
Director name: Mr Andrew Beeson
Amount purchased: 33,000 @ 61.00p
Value: £20,130

BSS Group (BTSM)
Director name: Mr Roddy Murray
Amount purchased: 7,500 @ 250.20p
Value: £18,765

Tristel (TSTL)
Director name: Mr Paul Christopher Swinney
Amount purchased: 26,000 @ 59.50p
Value: £15,470

Tristel (TSTL)
Director name: Mr Bruce Green
Amount purchased: 26,000 @ 59.50p
Value: £15,470

Silverdell (SID)
Director name: Mr Sean Nutley
Amount purchased: 127,000 @ 11.75p
Value: £14,922


Top Director Sells

Ultra Electronics Holdings (ULE)
Director name: Mr Douglas Caster
Amount sold: 450,000 @ 1,300.00p
Value: £5,850,000

Jardine Matheson (Singapore) (JAR)
Director name: Mr Simon L Keswick
Amount sold: 48,800 @ $29.98
Value: $1,462,951

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