CLS Executive Chairman sells by tender 368,000 shares

2nd Oct 2012 16:19

Sten Mortstedt, the Executive Chairman of CLS Holdings, a property investment company, has sold by tender 368,371 shares in the company on behalf of himself and his family. The shares were tendered for up to and including the pro rata entitlement of one ordinary share for every 76 ordinary shares at 805p per share. The family pocketed a totalled £2.97m. Following the sale the Mortstedt family holds 23.1m shares. Over the past year the company's share price has risen 24%, equal to 139p. In its most recent set of results, the firm said net assets per share in the six months to June 30th rose 5.6% to 1037.7p from 983.1p at the end of 2011. The aggregate value of net assets rose 3.1% to £458.5m from the year-end figure of £444.9m, as the company enjoyed a boost from receiving planning permission for its Spring Mews mixed-use development and completed the second of its German pre-lets. Group revenue in the first half of the year edged up to £40.0m from £39.9m the year before, but profit before tax fell to £27.3m from £37.1m, in part because the gain on the revaluation if investment properties was lower this time round at £10.1m versus £14.1m last year. Top Director BuysArbuthnot Banking Group (ARBB) Director name: Mr James FlemingAmount purchased: 4,500 @ 579.00p Value: £26,055SEGRO (SGRO) Director name: Mr Christopher FisherAmount purchased: 10,000 @ 236.31p Value: £23,631Hansard Global (HSD) Director name: Mr Gordon Stuart MarrAmount purchased: 21,300 @ 92.55p Value: £19,713Avesco Group (AVS) Director name: Mr Richard A Murray-ObodynskiAmount purchased: 10,000 @ 158.00p Value: £15,800Equatorial Palm Oil (PAL) Director name: Mr Michael FrayneAmount purchased: 150,000 @ 10.50p Value: £15,750Pearson (PSON) Director name: Mr Ken J HydonAmount purchased: 970 @ 1,214.00p Value: £11,776JPMorgan Brazil Inv Trust (JPB) Director name: Prof Victor Bulmer-ThomasAmount purchased: 13,000 @ 83.60p Value: £10,868Top Director SellsCLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount sold: 368,371 @ 805.00p Value: £2,965,387Scotgold Resources (DI) (SGZ) Director name: Mr Phillip JacksonAmount sold: 1,000,000 @ 3.53p Value: £35,300Aberdeen Asian Smaller Companies Inv Trust (AAS) Director name: Mr Alan KempAmount sold: 6,000 @ 835.00p Value: £50,100CLS Holdings (CLI) Director name: Mr Richard TiceAmount sold: 3,903 @ 805.00p Value: £31,419CLS Holdings (CLI) Director name: Mr Thomas J ThomsonAmount sold: 1,739 @ 805.00p Value: £13,999CLS Holdings (CLI) Director name: Mr H O Thomas LundqvistAmount sold: 1,431 @ 805.00p Value: £11,520