Latchways director sells 0.8m-pound stake

15th Aug 2013 16:08

Alastair Hogg, the Sales Director of Latchways, sold over 0.8m pounds-worth of shares in the company after exercising options on Thursday, the same day the fall protection group gave an encouraging outlook for the second half.The move came after a 32% jump in the share price so far this year. Hogg, who has served on the board since 2004 after having joined the company in 1998, exercised a total of 66,667 options granted under a management incentive scheme back in 2001.He then sold 63,667 of these at a price of 1,320p a pop, making a total of £840,404. The shares left over pushed his holding to 10,000 shares, equal to a 0.09% stake in the firm.Latchways, which designs products to protect people working at height, said that it expects to report growth in the first half despite mixed conditions across its markets. It also said that trading patterns since the start of its fiscal year (April 1st) point towards a strong second half, given the strength in product lines in North America."Looking forward, despite the prevailing economic weakness in our core markets, we are well set to continue to deliver profitable growth," the company said.Top Director BuysSVG Capital (SVI) Director name: Mr Lynn FordhamAmount purchased: 20,726 @ 409.20p Value: £84,811Capital & Regional (CAL) Director name: Mr Tony HalesAmount purchased: 100,000 @ 38.25p Value: £38,250Fiske (FKE) Director name: Mr Francis G LuchiniAmount purchased: 39,000 @ 58.00p Value: £22,620Fiske (FKE) Director name: Ms Amanda Jane AndrewsAmount purchased: 18,000 @ 58.00p Value: £10,440Top Director SellsLatchways (LTC) Director name: Mr Alastair James HoggAmount sold: 63,667 @ 1,320.00p Value: £840,404BC