Hangar 8 CEO makes first sale to meet demand for stock

3rd Dec 2013 15:59

Hangar 8, a privately-owned passenger jet aircraft owner, announced that Dustin Dryden, its Chief Executive Office, made his first ever sale of company stock with the disposal of 750,000 shares to meet institutional demand. Dryden sold the shares at 205p each for a total of £1.54m and reduced his stake to 3.3m shares. Nigel Payne, Non-Executive Chairman, said: "Dustin has done an exceptional job in building the business and, as the founder of Hangar8, has never sold a share since its inception. "By disposing of these shares we have satisfied some institutional demand following the announcement of our final results, and will assist in our desire to improve liquidity."The company's share price has rocketed since mid-October from 161.50p to Tuesday's high of 226p. For the first half of the year revenues rose 39% to £23.6m (2012: £17.0m), with gross profit of £8.3m, up 69% from £4.9m for the same period a year earlier. At the time of the results, Dryden said it had been "another powerful year of growth" for the company. Top Director BuysLondonMetric Property (LMP) Director name: Mr Philip WatsonAmount purchased: 80,000 @ 130.50p Value: £104,400EpiStem Holdings (EHP) Director name: Mr David EvansAmount purchased: 18,200 @ 328.25p Value: £59,742Shaftesbury (SHB) Director name: Mr Dermot MathiasAmount purchased: 8,208 @ 605.75p Value: £49,720WYG (WYG) Director name: Mr David JeffcoatAmount purchased: 27,278 @ 109.40p Value: £29,842Ariana Resources (AAU) Director name: Mr Kerim SenerAmount purchased: 800,000 @ 1.25p Value: £10,000Top Director SellsHangar 8 (HGR8) Director name: Mr Dustin DrydenAmount sold: 750,000 @ 205.00p Value: £1,537,500Grainger (GRI) Director name: Mr Andrew R CunninghamAmount sold: 576,350 @ 201.41p Value: £1,160,827Wolseley (WOS) Director name: Mr Frank RoachAmount sold: 32,696 @ 3,302.10p Value: £1,079,655Wolseley (WOS) Director name: Mr Ian MeakinsAmount sold: 26,916 @ 3,302.10p Value: £888,793Grainger (GRI) Director name: Mr Peter Couch Amount sold: 293,820 @ 201.41p Value: £591,783Wolseley (WOS) Director name: Mr John W MartinAmount sold: 12,003 @ 3,302.10p Value: £396,351Wolseley (WOS) Director name: Mr Richard ShoylekovAmount sold: 11,831 @ 3,302.10p Value: £390,671LondonMetric Property (LMP) Director name: Mr Patrick VaughanAmount sold: 282,000 @ 129.00p Value: £363,780Grainger (GRI) Director name: Mr Nick Jopling Amount sold: 180,100 @ 201.41p Value: £362,739Grainger (GRI) Director name: Mr Mark Greenwood Amount sold: 134,400 @ 201.41p Value: £270,695NR