Latchways boss slims stake

Related Companies

Related Indices

Related Sectors

News for Spread Betters

PreviousPrevious
NextNext

There's a new Investor Edition of CMC Markets' spread betting platform... and it's exclusive to DigitalLook.com users...

Get full details about Marketmaker:Investor Edition here. Advertisement

Date: Monday 18 Dec 2006

LONDON (ShareCast) - Safety harness specialist Latchways suffered losses today as its chief executive reduced his stake in what the group called a “response to institutional demand for shares.”

David Hearson sold stock on five separate occasions between the 11th and 15th December, pocketing just shy of £935,000.

He reduced his holding by more than 71,000 shares to leave him with 340,043, or just over 3% of the company.

The move follows last month’s announcement that the group is to pay a special dividend of 30p per share as it continues to enjoy strong growth driven by health and safety regulations.

"There are strong prospects for organic growth across all our divisions. This organic growth is self-financing, while small acquisitions can be funded without needing to revert to shareholders," said Hearson.

The special dividend, payable on 12 January to shareholders on the register as at 15 December, will cost £3.3m.

Profits in the half-year to September rose by 36% to £4.1m, up from £3m, on turnover up by 18% to £16.6m.

Top Director Buys

Drax (DRX)
Director name: Ms Dorothy Thompson
Amount purchased: 20,000 @ 825.00p
Value: £165,000

Vodafone (VOD)
Director name: Mr Anthony Watson
Amount purchased: 100,000 @ 144.25p
Value: £144,250

DHX Media (DHX)
Director name: Mr Steven DeNure
Amount purchased: 100,000 @ 72.03p
Value: £72,030

DHX Media (DHX)
Director name: Mr Neil Court
Amount purchased: 100,000 @ 72.03p
Value: £72,030

Morgan Crucible (MGCR)
Director name: Mr Timothy Stevenson
Amount purchased: 29,000 @ 257.00p
Value: £74,530

Peptech (PTDX)
Director name: Mr John Chiplin
Amount purchased: 40,000 @ 63.72p
Value: £25,488

Costain Group (COST)
Director name: Mr David George Jefferies
Amount purchased: 50,000 @ 52.00p
Value: £26,000

Eleco (ELCO)
Director name: Mr John H B Ketteley
Amount purchased: 25,000 @ 87.25p
Value: £21,812

Eleco (ELCO)
Director name: Mr John H B Ketteley
Amount purchased: 25,000 @ 86.00p
Value: £21,500

Aberdeen New Thai (ANW)
Director name: Mr James Robinson
Amount purchased: 10,000 @ 164.79p
Value: £16,479

Punch Taverns (PUB)
Director name: Mr Adrian Fawcett
Amount sold: 116,129 @ 1,276.00p
Value: £1,481,806

Drax (DRX)
Director name: Mr Gordon Boyd
Amount sold: 168,859 @ 816.75p
Value: £1,379,156

Drax (DRX)
Director name: Mr Peter Emery
Amount sold: 165,000 @ 816.75p
Value: £1,347,638

Latchways (LTC)
Director name: Mr David Hearson
Amount sold: 26,330 @ 1,300.00p
Value: £342,290

Lloyds TSB (LLOY)
Director name: Mr Michael E Fairey
Amount sold: 54,000 @ 565.50p
Value: £305,370

Ashtead Group (AHT)
Director name: Mr Sat Dhaiwal
Amount sold: 161,391 @ 153.00p
Value: £246,928

Latchways (LTC)
Director name: Mr David Hearson
Amount sold: 13,543 @ 1,300.00p
Value: £176,059

Latchways (LTC)
Director name: Mr David Hearson
Amount sold: 12,000 @ 1,285.00p
Value: £154,200

Xstrata (XTA)
Director name: Mr David Rough
Amount sold: 5,831 @ 2,546.00p
Value: £148,457

Latchways (LTC)
Director name: Mr David Hearson
Amount sold: 10,000 @ 1,310.00p
Value: £131,000

Digital Look have been voted
"Best Research and Information Provider"

4th Floor, Bankside House, 107 Leadenhall Street, London EC3A 4AF.
Registered in England and Wales (registered no. 3678570).