Lancashire's president sells £1.39m worth of shares

9th Nov 2011 16:32

The president of Lancashire Holdings, the FTSE 250 insurance broker, has sold 330,000 shares in the firm less than one week after the firm paid a special dividend following a "solid performance". Neil McConachie, who joined the firm in February 2006, sold 100,000 shares at 732p, 150,000 at £7.50 and 80,000 at 772p per share, for a total of £1,390,917. Following the transaction, the director now holds 189,649 shares, equivalent to a 0.12% stake in the company. The firm, which has gained 23% on its share price over the past year, reported profit before tax retreated to $79.0m from $107.6m last year, but that did not stop the board from recommending a special dividend payment of 80 cents, although, in the circumstances, it was understandable that this failed to match the $1.40 special dividend announced with the third-quarter results last year. Top Director BuysKofax (KFX) Director name: Mr Reynolds Carl BishAmount purchased: 39,590 @ 244.90p Value: £96,956Capital & Regional (CAL) Director name: Mr Louis Norval Amount purchased: 138,812 @ 34.67p Value: £48,126Capital & Regional (CAL) Director name: Mr Neno Haasbroek Amount purchased: 138,812 @ 34.67p Value: £48,126Vislink (VLK) Director name: Mr Andrew SleighAmount purchased: 250,000 @ 19.00p Value: £47,500Kofax (KFX) Director name: Mr Christopher J ConwayAmount purchased: 15,000 @ 241.00p Value: £36,150Hargreaves Lansdown (HL.) Director name: Ms Tracey TaylorAmount purchased: 12,650 @ 209.00p Value: £26,438Kofax (KFX) Director name: Mr Reynolds Carl BishAmount purchased: 10,410 @ 245.00p Value: £25,504Top Director SellsLancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount sold: 150,000 @ 750.00p Value: £1,125,000Lancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount sold: 100,000 @ 732.00p Value: £732,000Lancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount sold: 80,000 @ 772.00p Value: £617,600Microgen (MCGN) Director name: Ms Anjum SiddiqiAmount sold: 27,917 @ 148.00p Value: £41,317NR