John Wood Director pares some of his new holdings

14th Jun 2012 18:05

On June 13th, Mark Papworth, a director of oilfield services firm Wood Group and the Chief Executive Officer of its GTS division, exercised 100,000 options which were granted to him on March 25th 2008 under the terms of the company's Long Term Retention Plan. The shares represented 0.027% of the firm's issued share capital and had an exercise price of 3.333p.On the same day, Papworth sold 53,392 shares in Wood Group on the open market at a price of 667p, for a total consideration of £356,125.Following the transaction the director continues to hold 118,608 ordinary shares, representing 0.032% of the outfit's issued share capital. He also has a beneficial interest in 43,680 ordinary shares, which amounts to another 0.012% of the issued share capital, and holds 40,000 share options. The company's share price is still in the blue for 2012 not to mention for the last year, although it has come under pressure in the last month and a half, at a time when global growth forecasts have been falling progressively and energy prices have experienced a significant correction. As well, some analysts have pointed out recently that the stock's valuation is now demanding and that its turbo-machinery services division GTS is at risk of disappointing. Nevertheless, the outfit as a whole continues to win new business. On March 15th the company got the gig to provide oil and gas colossus Shell with sub-sea, umbilical, riser and flow-line (SURF) engineering and construction management services worldwide. More recently, on April 30th, Mustang, a subsidiary of Wood Group, was awarded engineering and support contracts for the world's biggest semi-submersible production facility. This enormous processing plant will serve the Ichthys gas field, 200 kilometres off the coast of Western Australia. It will sit in 250 metres of water, weigh 70,000 tonnes and sport a deck of 156 metres by 132 metres. Top Director Buys Bank of America Corp. (BAC) Director name: Mr Charles K Gifford Amount purchased: 482,794 @ $7.36 Value: $3,553,364 New Europe Property Investments (NEPI) Director name: Mr Martin Slabbert Amount purchased: 400,000 @ € 3.28 Value: € 1,312,000 New Europe Property Investments (NEPI) Director name: Mr Victor Semionov Amount purchased: 250,000 @ € 3.28 Value: € 820,000 Lowland Investment Co (LWI) Director name: Mr Robert Robertson Amount purchased: 5,000 @ 848.00p Value: £42,400 Terrace Hill Group (THG) Director name: Mr Robert F M Adair Amount purchased: 375,000 @ 9.75p Value: £36,562 Terrace Hill Group (THG) Director name: Mr Robert F M Adair Amount purchased: 375,000 @ 9.61p Value: £36,038 Eden Research (EDEN) Director name: Mr Kenneth Williams Brooks Amount purchased: 190,000 @ 12.92p Value: £24,548 Eden Research (EDEN) Director name: Sir Arthur Benjamin Norman Gill Amount purchased: 187,000 @ 13.00p Value: £24,310 Management Consulting Group (MMC) Director name: Mr Nicholas Stagg Amount purchased: 100,000 @ 21.72p Value: £21,720 Fidessa Group (FDSA) Director name: Mr John Hamer Amount purchased: 1,078 @ 1,450.00p Value: £15,631 Top Director Sells Hiscox Ltd. (HSX) Director name: Mr Bronek E Masojada Amount sold: 144,070 @ 408.10p Value: £587,950 Wood Group (John) (WG.) Director name: Mr Mark Papworth Amount sold: 53,392 @ 667.00p Value: £356,125 Hiscox Ltd. (HSX) Director name: Mr Bronek E Masojada Amount sold: 33,838 @ 407.00p Value: £137,721 Hiscox Ltd. (HSX) Director name: Mr Roberts R S Childs Amount sold: 33,838 @ 405.27p Value: £137,135 Hiscox Ltd. (HSX) Director name: Mr Roberts R S Childs Amount sold: 33,838 @ 405.20p Value: £137,112 Big Yellow Group (BYG) Director name: Mr Nicholas Vetch Amount sold: 20,000 @ 286.00p Value: £57,200 AB