ITE's Strachan cashes in near all-time high

18th Jul 2013 15:53

An executive director of ITE Group has raised more than 2 million pounds by selling shares at close to their all-time high.Edward Strachan sold 695,000 shares in the conference and events business on July 18th at 299p a share for a total of £2.08m. He sold the shares, representing 0.28% of the share capital, two days after an upbeat trading statement.The shares had hit a record high of 307.4p two weeks earlier after rallying 63% since a 52-week low of 183.5p on November 8th 2012.ITE focuses on organising conferences in growing markets in Russia and the CIS. Strachan joined in 1993 and launched ITE's business in Kazakhstan before opening a string of businesses in the region.He still holds 1.2m of ITE's shares, or 0.48% of the company, after the sale.In its July 16th trading update ITE said it benefited from good trading conditions in the third quarter, including well-attended construction and oil and gas conferences in Moscow. It said the board was confident about the outlook for the full year.Top Director BuysFlowgroup (FLOW) Director name: Mr Tony StiffAmount purchased: 172,245 @ 11.55p Value: £19,894Top Director SellsITE Group (ITE) Director name: Mr Edward StrachanAmount sold: 695,000 @ 299.00p Value: £2,078,050Alternative Networks (AN.) Director name: Mr Edward SpurrierAmount sold: 275,000 @ 290.00p Value: £797,500Alternative Networks (AN.) Director name: Mr James MurrayAmount sold: 225,000 @ 290.00p Value: £652,500Judges Scientific (JDG) Director name: Mr David BarnbrookAmount sold: 23,450 @ 1,450.00p Value: £340,025Alternative Networks (AN.) Director name: Mr James SewellAmount sold: 100,000 @ 290.00p Value: £290,000Ensor Holdings (ESR) Director name: Mr Roger HarrisonAmount sold: 200,000 @ 51.00p Value: £102,000Lok'n Store Group (LOK) Director name: Mr Ray DaviesAmount sold: 98,039 @ 102.00p Value: £100,000Ensor Holdings (ESR) Director name: Mr Anthony E CoyneAmount sold: 100,000 @ 51.00p Value: £51,000Lok'n Store Group (LOK) Director name: Mr Colin JacobsAmount sold: 20,000 @ 136.00p Value: £27,200Lok'n Store Group (LOK) Director name: Mr Colin JacobsAmount sold: 22,759 @ 113.00p Value: £25,718SF