Another Greggs director sells out

Date: Friday 11 Nov 2005

The trend at Greggs appears to be one of selling with another director reducing his holding in the UK bakery chain.

Managing director Michael Darrington has joined in the fun selling a total of 12,500 shares, at a price of £46.62 per share and netting around £583,000 in the process.

Darlington has a stake of 66,302 shares left in Greggs.

The sale follows finance director Malcolm Simpson, who banked profits in the bakery chain earlier this week with a flurry of sales.

In a number of separate transactions both Simpson and his wife Ann sold a total of 50,000 shares in the company netting themselves around £2.32m in the process.

Shares in Greggs have continued to climb this year, though the baker warned recently that weak consumer spending was taking its toll on the business with second half sales slowing and profits so far below last year's level.

Top Director Buys

Zetar (ZTR)
Director name: Mr Clive Beecham
Amount purchased: 34,722 @ 288.00p
Value: £99,999

Zetar (ZTR)
Director name: Mr Ian Blackburn
Amount purchased: 26,041 @ 288.00p
Value: £74,998

Royalblue (RYB)
Director name: Mr Andy Malpass
Amount purchased: 6,013 @ 660.00p
Value: £39,686


Top Director Sells

Aveva Group (AVV)
Director name: Mr Richard Longdon
Amount sold: 120,000 @ 950.00p
Value: £1,140,000

Greggs (GRG)
Director name: Mr Michael Darrington
Amount sold: 10,000 @ 4,662.50p
Value: £466,250

Greggs (GRG)
Director name: Mr Michael Darrington
Amount sold: 2,500 @ 4,662.50p
Value: £116,562

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