Inmarsat Chairman sells 1.4m pounds-worth of shares

8th Aug 2013 15:57

The Chairman of Inmarsat made 1.4m pounds this week by selling around a fifth of his stake in the satellite operator, the firm announced on Thursday.Andrew Sukawaty, who joined the firm 10 years ago, sold 200,000 shares in the company at a price of 700p each, taking advantage of the stock's 20% rise so far in 2013.After the £1.4m sale, his holding was reduced to 812,274 shares.Sukawaty, who used to be the company's Chief Executive Officer before being made Executive Chairman in January 2012, made the disposal just a week after the firm's half-year report which saw revenues and profits beat analysts' forecasts.Adjusted revenues were up 1.0% at $635.2m, while adjusted pre-tax profit rose 6.0% to $183.5m.Top Director BuysHutchison China Meditech Ltd (HCM) Director name: Mr Christopher NashAmount purchased: 8,506 @ 584.00p Value: £49,675Ceres Media International (CMI) Director name: Mr Alexexander S. DowdeswellAmount purchased: 5,400,000 @ 0.50p Value: £27,000Ceres Media International (CMI) Director name: Mr Leslie C. BarberAmount purchased: 3,000,000 @ 0.50p Value: £15,000Top Director SellsInmarsat (ISAT) Director name: Mr Andrew (Andy) SukawatyAmount sold: 200,000 @ 700.00p Value: £1,400,000Jarvis Securities (JIM) Director name: Mr Andrew J GrantAmount sold: 250,000 @ 400.00p Value: £1,000,000Capital & Counties Properties (CAPC) Director name: Mr Gary YardleyAmount sold: 177,158 @ 362.91p Value: £642,924CSR (CSR) Director name: Dr Levy GerzbergAmount sold: 56,476 @ 521.16p Value: £294,330Capital & Counties Properties (CAPC) Director name: Mr Ian HawksworthAmount sold: 82,777 @ 361.86p Value: £299,537