Hargreaves Lansdown Marketing Director reduces stake by 200,000 shares

26th Oct 2012 16:27

In a deal announced after Thursday's close, Ian Hunter, the Investment Marketing Director of financial services provider Hargreaves Lansdown, has pocketed £1.51m after reducing his stake in the company by 200,000 shares. Hunter, who has held a position of the board since 2009, traded in the shares at 754.75p each, with the transaction taking his stake to 556,916 shares. In its annual financial report, published on Wednesday, the company said that it "remains confident" about the proposals that are currently in consultation ahead of phase two of the Retail Distribution Review, and believes it is in a position to "weather the change well". The group revealed that it has held discussions with the Financial Services Authority (FSA) and says that these rules could come into force by the end of 2013. Hargreaves believes that the extension of the RDR rules would most likely require the unbundling of pricing on investment products and has already undertaken a range of modelling and preparatory activities. Earlier this month the company revealed that its revenue, assets under administration (AuA) and client numbers all hit record levels in the July-September quarter, which is traditionally the firm's quietest period of the financial year. The group described the first quarter of its financial year as a "pleasing start" given challenging economic and market conditions for retail investors, and added that it has made an excellent start to the current quarter. Top Director BuysSThree (STHR) Director name: Mr Gary EldenAmount purchased: 157,343 @ 300.23p Value: £472,391ASOS (ASC) Director name: Lord Waheed AlliAmount purchased: 829,657 @ 12.67p Value: £105,118CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 2,998 @ 710.00p Value: £21,286Top Director SellsASOS (ASC) Director name: Lord Waheed AlliAmount sold: 779,657 @ 2,150.00p Value: £16,762,626ASOS (ASC) Director name: Mr Nicholas RobertsonAmount sold: 744,792 @ 2,150.00p Value: £16,013,028ASOS (ASC) Director name: Mr Nick BeightonAmount sold: 365,094 @ 2,150.00p Value: £7,849,521ASOS (ASC) Director name: Mr Jonathan Damian KamaluddinAmount sold: 305,217 @ 2,150.00p Value: £6,562,166ASOS (ASC) Director name: Mr Peter WilliamsAmount sold: 80,000 @ 2,154.70p Value: £1,723,760Alliance Pharma (APH) Director name: Mr Tony BooleyAmount sold: 800,000 @ 30.50p Value: £244,000