InterContinental Hotels director sells 70,000 shares

22nd Apr 2013 16:30

InterContinental Hotels' President of the Americas has sold 70,000 shares on Monday, reducing his stake to 388,330 shares. The shares were sold for 1,858.95p each for a total of £1.3m. The transaction comes just a few weeks after the company agreed to sell the leasehold interest at its London Park Lane hotel for £301.5m, 62% above the 2012 year-end net book value. IHG has secured a 30-year management contract on the hotel, with three 10-year extension rights at IHG's discretion, giving an expected contract length of 60 years. Management fees are expected to be approximately £4.0m per annum. The group's share price is up 25% over the past year, equal to 376p. Top Director BuysShare (SHRE) Director name: Mr Richard StoneAmount purchased: 250,000 @ 14.50p Value: £36,250Charles Taylor (CTR) Director name: Mr Tito SosoAmount purchased: 19,000 @ 165.00p Value: £31,350Sportech (SPO) Director name: Mr David McKeithAmount purchased: 30,000 @ 96.75p Value: £29,025PureCircle Ltd. (DI) (PURE) Director name: Mr John SlosarAmount purchased: 10,000 @ 256.00p Value: £25,600Law Debenture Corp. (LWDB) Director name: Mr Mark BridgemanAmount purchased: 4,513 @ 467.00p Value: £21,076NCC Group (NCC) Director name: Mr Thomas Chambers Amount purchased: 19,000 @ 106.25p Value: £20,188Greencoat UK Wind (UKW) Director name: Mr Tim IngramAmount purchased: 10,706 @ 106.98p Value: £11,453Top Director SellsInterContinental Hotels Group (IHG) Director name: Mr Kirk Kinsell Amount sold: 70,000 @ 1,858.95p Value: £1,301,265Spectris (SXS) Director name: Mr Clive WatsonAmount sold: 29,912 @ 1,915.99p Value: £573,111Smiths News (NWS) Director name: Mr Jonathan BuntingAmount sold: 151,356 @ 183.00p Value: £276,981Spectris (SXS) Director name: Mr Roger StephensAmount sold: 14,272 @ 1,915.99p Value: £273,450Share (SHRE) Director name: Mr Richard StoneAmount sold: 250,000 @ 22.00p Value: £55,000