Bostock reduces stake in Marks and Spencer before exit

17th Aug 2012 16:12

Kate Bostock, who is quitting her role as Executive Director of General Merchandise at Marks and Spencer, has taken advantage of the recent rise in the retailer's share price with a double sale of shares late on Thursday. Bostock, who announced her exit in July but will stay on until October, sold a total of 244,877 shares, taking her stake in the company to just 64,526 shares. 122,160 of the shares were sold post exercise for 356p a pop, while the remaining 122,717 shares were traded in for 359.40p. In total Bostock pocketed £875,934 from the transaction. The director is leaving M&S "by mutual consent to pursue other interests" following a disappointing set of second-quarter results which saw a 2.8% decline in like-for-like UK sales.M&S's share price was given a boost earlier this month after it was reported that financiers were considering making a £6bn bid for the group. The stock has gained over 11% in the past month. Top Director BuysLSL Property Services (LSL) Director name: Mr Simon EmbleyAmount purchased: 180,000 @ 200.00p Value: £360,000LSL Property Services (LSL) Director name: Mr David NewnesAmount purchased: 50,000 @ 200.00p Value: £100,000North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 3,500 @ 1,020.00p Value: £35,700The Real Good Food Company (RGD) Director name: Mr Peter Cecil SalterAmount purchased: 50,000 @ 42.50p Value: £21,250Media Corporation (MDC) Director name: Mr Mark Andrew ButtAmount purchased: 3,000,000 @ 0.60p Value: £18,000F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 17,000 @ 89.97p Value: £15,295Top Director SellsNews Corp. 'A' Shares (NCRA) Director name: Mr Rupert MurdochAmount sold: 182,539 @ $23.30 Value: $4,253,159News Corp. 'A' Shares (NCRA) Director name: Mr Chase CareyAmount sold: 77,290 @ $23.30 Value: $1,800,857News Corp. 'A' Shares (NCRA) Director name: Mr Arthur SiskindAmount sold: 73,491 @ $23.30 Value: $1,712,340News Corp. 'A' Shares (NCRA) Director name: Mr James MurdochAmount sold: 71,358 @ $23.30 Value: $1,662,641News Corp. 'A' Shares (NCRA) Director name: Mr David DeVoeAmount sold: 64,310 @ $23.30 Value: $1,498,423News Corp. 'A' Shares (NCRA) Director name: Mr Rupert MurdochAmount sold: 55,066 @ $23.30 Value: $1,283,038News Corp. 'A' Shares (NCRA) Director name: Mr Rupert MurdochAmount sold: 50,183 @ $23.30 Value: $1,169,264News Corp. 'A' Shares (NCRA) Director name: Mr Chase CareyAmount sold: 43,476 @ $23.30 Value: $1,012,991News Corp. 'A' Shares (NCRA) Director name: Mr Rupert MurdochAmount sold: 40,438 @ $23.30 Value: $942,205News Corp. 'A' Shares (NCRA) Director name: Mr Rupert MurdochAmount sold: 36,852 @ $23.30 Value: $858,652NR