Cairn Chairman reduces stake by more than half

13th Dec 2012 16:33

The wife of Cairn Chairman, Sir Bill Gammell, has traded in a large slice of shares, reducing his stake in the oil exploration company to 596,331 shares. Lady Janice Gammell sold the shares at 263.26p earning £1.45m before tax. The Chairman earned a further £260,006 through the sale of another 98,764 shares at the same price through two trusts in which he has an interest. At its last update, on October 18th, the group reported that it was pleased with the progress made this year in re-balancing the portfolio for exploration-led growth. Top Director BuysLo-Q (LOQ) Director name: Mr Matthew Jonathan CooperAmount purchased: 17,442 @ 344.00p Value: £60,000Unilever (ULVR) Director name: Mr Sunil Bharti MittalAmount purchased: 2,100 @ 2,425.00p Value: £50,925DP Poland (DPP) Director name: Mr Chris MooreAmount purchased: 250,000 @ 19.25p Value: £48,125Berkeley Mineral Resources (BMR) Director name: Mr Masoud AlikhaniAmount purchased: 1,000,000 @ 2.70p Value: £27,000RSA Insurance Group (RSA) Director name: Mr Hugh MitchellAmount purchased: 20,000 @ 123.78p Value: £24,756F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 25,000 @ 98.20p Value: £24,550Invesco Perpetual UK Small Companies Inv Trust (IPU) Director name: Mr Christopher FletcherAmount purchased: 10,450 @ 226.50p Value: £23,669London Mining (LOND) Director name: Sir Nicholas BonsorAmount purchased: 15,300 @ 124.65p Value: £19,071easyJet (EZJ) Director name: Ms Adèle AndersonAmount purchased: 2,500 @ 738.38p Value: £18,460Berkeley Mineral Resources (BMR) Director name: Mr Horacio FurmanAmount purchased: 518,518 @ 2.70p Value: £14,000Top Director SellsCairn Energy (CNE) Director name: Sir Bill GammellAmount sold: 551,909 @ 263.26p Value: £1,452,956Lo-Q (LOQ) Director name: Mr Leonard SimAmount sold: 100,000 @ 344.00p Value: £344,000Cairn Energy (CNE) Director name: Sir Bill GammellAmount sold: 98,764 @ 263.26p Value: £260,006Enterprise Inns (ETI) Director name: Mr Graham E (Ted) TuppenAmount sold: 100,000 @ 96.28p Value: £96,280Enterprise Inns (ETI) Director name: Mr W Simon TownsendAmount sold: 100,000 @ 96.28p Value: £96,280Northern Investors Co (NRI) Director name: Mr John C BarnsleyAmount sold: 10,841 @ 335.00p Value: £36,317