FirstGroup chief executive's wife sells stake

16th Jun 2010 15:17

The wife of Sir Muir Lockhead, the chief executive of FirstGroup has sold her stake worth nearly £400,000 in the bus and train operator.Lady Audrey Lockhead offloaded just over 100,000 shares in the company at 394.2p a time.She no longer has any shares in the company, but her husband still has about 1.1m. Last month, FirstGroup reported that full-year profit fell 10%, due to the recession and higher fuel costs, while poor weather during the fourth quarter cost the business £16m.Profit before tax dropped to £179.6m in the 12 months ended 31 March, down from £200m the year before, on revenue up 2% to £6.3bn thanks to £176.3m of favourable foreign exchange movements.But it could have been worse without the positive impact of the firm's cost savings programme. It has delivered annual savings of over £200m. Sir Moir, who started his career as a mechanical engineer, has been chief executive of the company since it was formed in 1995. In 1996 he was awarded the OBE for services to the bus industry and in 2008 he was awarded a Knighthood for services to transport.Top Director BuysAggreko (AGK) Director name: Mr Rupert SoamesAmount purchased: 300,000 @ 1,444.00p Value: £4,332,000Aggreko (AGK) Director name: Mr Philip G RogersonAmount purchased: 70,000 @ 1,443.00p Value: £1,010,100Kofax (KFX) Director name: Mr James Arnold, Jr.Amount purchased: 150,000 @ 235.00p Value: £352,500RPC Group (RPC) Director name: Mr Jamie PikeAmount purchased: 19,400 @ 256.00p Value: £49,664Michelmersh Brick Holdings (MBH) Director name: Mr Alan HardyAmount purchased: 130,000 @ 35.00p Value: £45,500Bellway (BWY) Director name: Mr John CuthbertAmount purchased: 6,000 @ 617.99p Value: £37,079AG Barr (BAG) Director name: Mr Alex B C ShortAmount purchased: 3,000 @ 1,085.00p Value: £32,550Leaf Clean Energy (LEAF) Director name: Mr Bran KeoghAmount purchased: 50,000 @ 62.00p Value: £31,000CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 6,176 @ 450.00p Value: £27,792Freshwater UK (FWUK) Director name: Mr John UnderwoodAmount purchased: 135,297 @ 16.00p Value: £21,648Top Director SellsAggreko (AGK) Director name: Mr Rupert SoamesAmount sold: 343,632 @ 1,444.00p Value: £4,962,046Aggreko (AGK) Director name: Mr Philip G RogersonAmount sold: 80,000 @ 1,443.00p Value: £1,154,400Grainger (GRI) Director name: Mr Henry PitmanAmount sold: 550,000 @ 107.50p Value: £591,250FirstGroup (FGP) Director name: Mr Moir LockheadAmount sold: 100,136 @ 394.17p Value: £394,706