Ocado co-founder, Dignity CEO trim stakes in companies

2nd Aug 2013 16:00

Ocado's co-founder Jason Gissing has sold more than three million pounds worth of shares. It is the first time he has sold shares since the online grocer floated in July 2010 and follows a meteoric climb in the share price this year. The family trust that holds his shareholding for him sold 1.07m shares at an average price of 310.6p. Ocado said: "In keeping with the principles of prudent wealth management, the discretionary family trust which holds Jason Gissing's shares has decided to sell a small proportion of his shares, equivalent to 5.6% of his total holding, in order to diversify the portfolio." Gissing, who is Ocado's commercial director, still owns nearly 18m shares, representing a 2.91% stake in the company. Shares in Ocado listed at 180p but had a turbulent ride sinking to as low as 54.4p at the end of 2011. But confidence in its future fortunes has built following the announcement of its tie-up with Morrisons and shares have more than doubled in value this year. They were trading at 294.8p at 12.24 on Friday - up 6.2p on the day.The wife of Dignity's Chief Executive Officer Mike McCollum trimmed the couple's stake on Friday, taking advantage of the funeral services provider's solid share-price rise so far this year.She sold 54,614 shares at 1,490p a pop for a total of £813,749. The sale reduced McCollum's total holding to 215,386 shares, representing a 0.376% interest in the FTSE 250 company.Dignity said that the disposal was made in order to complete a forthcoming property purchase.Since the start of 2013, the stock has surged by nearly 40% and is not far off the all-time high reached last month.Dignity reported its first-half numbers on Wednesday, revealing a solid 14% increase in revenue and a 20% jump in underlying pre-tax profit, helped by a 5.6% increase in the number of deaths compared with last year.Top Director BuysSevern Trent (SVT) Director name: Mr Martin KaneAmount purchased: 3,250 @ 1,773.00p Value: £57,622Surface Transforms (SCE) Director name: Mr Richard Douglas Gledhill Amount purchased: 645,000 @ 8.50p Value: £54,825Record (REC) Director name: Mr James Wood-CollinsAmount purchased: 27,190 @ 37.00p Value: £10,060Blackrock Frontiers Investment Trust C Shs (BRFC) Director name: Mr Sarmad N. ZokAmount purchased: 10,000 @ 100.00p Value: £10,000Top Director SellsOcado Group (OCDO) Director name: Mr Jason GissingAmount sold: 1,065,242 @ 310.60p Value: £3,308,642Capital & Counties Properties (CAPC) Director name: Mr Gary YardleyAmount sold: 300,000 @ 356.70p Value: £1,070,100Dignity (DTY) Director name: Mr Mike McCollumAmount sold: 54,614 @ 1,490.00p Value: £813,749Capital & Counties Properties (CAPC) Director name: Mr Soumen DasAmount sold: 210,000 @ 356.70p Value: £749,070Capital & Counties Properties (CAPC) Director name: Mr Ian HawksworthAmount sold: 184,134 @ 356.70p Value: £656,806Gable Holdings Inc. (GAH) Director name: Mr William DewsallAmount sold: 500,000 @ 54.00p Value: £270,000Atkins (WS) (ATK) Director name: Dr Krishnamurthy RajagopalAmount sold: 10,000 @ 1,154.42p Value: £115,442