LMS Capital director trades in 1.44m shares

7th Dec 2012 16:18

Robert Rayne, a non-Executive Director of LMS Capital, an investment company specialising in small- to medium-sized companies in the consumer, energy and business services, has sold 1.44m shares in the company at 84p. The £1.2m sale comes one week after the group unveiled plans to return up to £40m to shareholders. The £40m marks the first chunk of what is hoped will be ongoing distributions to shareholders and is the latest step in a strategic move as it attempts to gradually realise the value of its portfolio, much of which is invested in unlisted companies, and return cash to shareholders. The sale comes after the company set out a tender offer on November 2nd. Rayne's holding now stands at 6.77m shares. It was announced yesterday afternoon that Paul Pindar, the Chief Executive of Capita, the outsourcing giant, has reduced his stake in the company by 400,000 shares, just three weeks after it issued a confident outlook for the year.Pindar sold 150,000 of the shares at 778p and another 250,000 at 777p, taking his stake in the group to 878,349 shares. The transaction earned him £3.1m before tax.In mid-November the company said it was confident it will deliver 3% organic growth for the year along with an improved cash conversion rate for 2012 as compared to 2011.Top Director SellsLMS Capital (LMS) Director name: The Hon Robert RayneAmount sold: 1,442,264 @ 84.00p Value: £1,211,502Netplay TV (NPT) Director name: Mr Andrew Christopher LappingAmount sold: 1,000,000 @ 11.50p Value: £115,000LMS Capital (LMS) Director name: Mr Bernard J. Duroc-DannerAmount sold: 103,230 @ 84.00p Value: £86,713Pennon Group (PNN) Director name: Mr Christopher LoughlinAmount sold: 9,037 @ 614.37p Value: £55,521Pennon Group (PNN) Director name: Mr C I J H DrummondAmount sold: 7,564 @ 614.37p Value: £46,471LMS Capital (LMS) Director name: Mr Mark SebbaAmount sold: 36,514 @ 84.00p Value: £30,672Topps Tiles (TPT) Director name: Mr Matthew WilliamsAmount sold: 40,000 @ 49.50p Value: £19,800