Babcock and Scapa directors lose millions in share awards to tax obligations

1st Dec 2015 16:29

(ShareCast News) - Babcock International Group's directors all saw their net worth go up on Tuesday, however it was hit slightly due to tax obligations.Chief executive Peter Rogers, international division boss William Tame, executive director Kevin Thomas, and support services boss John Davies exercised a number of share awards.However to fulfill tax obligations and the cost of the deal, each director had to cash up a portion of the shares.While Rogers acquired the lion's share with 229,755 shares, he was hit the hardest, having to cough up nearly half that with a value of £1.1m.It was a similar story at Scapa Group, with two directors receiving shares under an award scheme but having to pay the tax man at the end of the day.Group chief executive Heejae Chae had the most to lose, selling 600,000 shares for £1.2m to cover his obligations.Top Director BuysElectra Private Equity (ELTA) Director name: Mr Edward BramsonAmount purchased: 6,402 @ 3,607.00p Value: £230,920G4S (GFS) Director name: Mr Himanshu RajaAmount purchased: 50,000 @ 225.10p Value: £112,550Stock Spirits Group (STCK) Director name: Mr David MaloneyAmount purchased: 20,000 @ 105.62p Value: £21,124Top Director SellsScapa Group (SCPA) Director name: Mr Heejae ChaeAmount sold: 600,000 @ 199.60p Value: £1,197,600Babcock International Group (BAB) Director name: Mr Peter L RogersAmount sold: 103,659 @ 1,078.88p Value: £1,118,356Scapa Group (SCPA) Director name: Mr Paul EdwardsAmount sold: 269,503 @ 199.60p Value: £537,928Babcock International Group (BAB) Director name: Mr Kevin ThomasAmount sold: 46,805 @ 1,078.88p Value: £504,970Babcock International Group (BAB) Director name: Mr William (Bill) TameAmount sold: 35,061 @ 1,071.00p Value: £375,503Babcock International Group (BAB) Director name: Mr John DaviesAmount sold: 19,251 @ 1,078.88p Value: £207,695AdEPT Telecom (ADT) Director name: Mr Dusan LukicAmount sold: 45,000 @ 260.00p Value: £117,000Haydale Graphene Industries (HAYD) Director name: Mr Raymond (Ray) John GibbsAmount sold: 40,500 @ 170.50p Value: £69,052