Director dealings: Mitie CEO-elect Bentley spends £3.6m on shares

22nd Nov 2016 13:38

(ShareCast News) - New Mitie boss Phil Bentley, who takes over from Ruby McGregor-Smith next month, splashed the cash to lift the embattled facilities management group's shares sharply on Tuesday.Bentley, who led turnarounds at Cable & Wireless and British Gas, bought £3.6m worth of shares in a ballsy display of confidence in the company, which was on Monday forced into its second profit warning in recent months.Buying at an average price of 194.3156p later on Monday, he quickly saw a £140,000 profit as the share shot up 6% on Tuesday. The purchase would only have made a dent in Bentley's savings, as when he oversaw the £7.4bn sale of Cable & Wireless to John Malone's Liberty Global last year he was reported to have netted a whopping £10m from his 5.3m shares and others in bonus schemes, not to mention his £2.4m annual pay package. Monday's profit warning from Mitie resulted from increased cost and competitive pressures across the group, which led the FTSE 250 company to report a slide into losses in the first half and cut its dividend, together with making the decision to withdraw from the domiciliary healthcare market and place this business under strategic review with a sizeable balance sheet write-off.Top Director BuysMitie Group (MTO)Director name: Bentley,PhillipAmount purchased: 1,852,656 @ 194.32pValue: £3,599,999.41Record (REC)Director name: Hill,LeslieAmount purchased: 281,957 @ 32.08pValue: £90,455.19Big Yellow Group (BYG)Director name: Cotton ,Richard Amount purchased: 10,000 @ 670.00pValue: £67,000.00Grafton Group Units (GFTU)Director name: Crowley,Vincent CAmount purchased: 8,000 @ 581.68pValue: £46,534.53Record (REC)Director name: Noyen,BobAmount purchased: 90,315 @ 32.08pValue: £28,974.13Record (REC)Director name: Wood-Collins,JamesAmount purchased: 90,315 @ 32.08pValue: £28,974.13Templeton Emerging Markets Inv Trust (TEM)Director name: Graham ,David Amount purchased: 5,000 @ 567.00pValue: £28,350.00Record (REC)Director name: Cullen,SteveAmount purchased: 62,232 @ 32.08pValue: £19,964.77Speedy Hire (SDY)Director name: Astrand,Jan GAmount purchased: 30,000 @ 40.02pValue: £12,006.00Record (REC)Director name: SLEIGH,JOEL Amount purchased: 33,847 @ 32.08pValue: £10,858.52Speedy Hire (SDY)Director name: Astrand,Jan GAmount purchased: 20,000 @ 41.20pValue: £8,240.00Speedy Hire (SDY)Director name: Astrand,Jan GAmount purchased: 20,000 @ 40.32pValue: £8,064.00Speedy Hire (SDY)Director name: Astrand,Jan GAmount purchased: 20,000 @ 39.99pValue: £7,998.00Low & Bonar (LWB)Director name: Schoolenberg ,Trudy Amount purchased: 10,000 @ 68.50pValue: £6,850.00Cloudcall Group (CALL)Director name: Cleaver,SimonAmount purchased: 9,236 @ 54.00pValue: £4,987.44Low & Bonar (LWB)Director name: Schoolenberg ,Trudy Amount purchased: 5,342 @ 69.50pValue: £3,712.69Murray International Trust (MYI)Director name: Hardie,DavidAmount purchased: 98 @ 1,140.90pValue: £1,118.08Centaur Media (CAU)Director name: Brankin,GrainneAmount purchased: 360 @ 41.65pValue: £149.94Centaur Media (CAU)Director name: Vidler ,AndriaAmount purchased: 360 @ 41.65pValue: £149.94Paypoint (PAY)Director name: Alcraft,Lewis Amount purchased: 12 @ 1,082.00pValue: £129.84Paypoint (PAY)Director name: Marchant,JonAmount purchased: 12 @ 1,082.00pValue: £129.84Paypoint (PAY)Director name: Earle,GeorgeAmount purchased: 12 @ 1,082.00pValue: £129.84Paypoint (PAY)Director name: Wilde,Katy Amount purchased: 12 @ 1,082.00pValue: £129.84Paypoint (PAY)Director name: Watkin-Rees,TimAmount purchased: 12 @ 1,082.00pValue: £129.84Paypoint (PAY)Director name: Court,Susan Amount purchased: 12 @ 1,082.00pValue: £129.84Paypoint (PAY)Director name: Taylor,DominicAmount purchased: 12 @ 1,082.00pValue: £129.84On The Beach Group (OTB)Director name: Vickerstaff,KirsteenAmount purchased: 43 @ 228.24pValue: £98.14General Electric Co (GEC)Director name: Rice,John G.Amount purchased: 32,000 @ n/aValue: n/aTop Director SellsGeneral Electric Co (GEC)Director name: Rice,John G.Amount sold: 15,345 @ $30.51Value: $441,118.43