Prezzo founder and family slice off 3.9m shares

26th Sep 2013 15:53

Restaurant chain Prezzo, which has seen its share price double to around 120p in the past year, on Thursday announced that three of its directors, including its founder, had each sold a 1.3m share slice of the company. Jonathan Kaye, the group's Chief Executive Officer, only made a slight dent to his holding, reducing it to 8.5%, while Adam Kaye and Sam Kaye, both Non-Executive Directors, each hold around 3%. All of the shares were traded in at 115p each, earning each of the directors just short of £1.5m. The 222-strong chain was established by Jonathan in 2000, a move which saw him follow a family tradition of restaurateurs. Adam and Sam, who are Jonathan's cousins, used to own fellow Italian chain Ask, before selling it to Gondola Holdings, which owns the likes of PizzaExpress and Zizzi. At the beginning of this month, the group posted a 17% leap in half year revenue to £79.7m, while adjusted pre-tax profit climbed 12% to £8.5m, and said it was "confident of delivering a satisfactory outcome for the year as a whole".Top Director BuysTVC Holdings (TVCH) Director name: Mr John TraceyAmount purchased: 1,000,000 @ 47.15p Value: £471,500Regenersis (RGS) Director name: Mr Tom Russell Amount purchased: 38,000 @ 264.00p Value: £100,320Totally (TLY) Director name: Mr Donald BaladasanAmount purchased: 5,000,000 @ 0.60p Value: £30,000Intercede Group (IGP) Director name: Mr Ian Ashley DrewAmount purchased: 30,000 @ 100.00p Value: £30,000Totally (TLY) Director name: Dr Michael J SinclairAmount purchased: 4,388,667 @ 0.60p Value: £26,332Global Market Group Ltd (DI) (GMC) Director name: Mr Gareth BullockAmount purchased: 50,000 @ 40.00p Value: £20,000Global Energy Development (GED) Director name: Mr Mikel D FaulknerAmount purchased: 10,000 @ 100.00p Value: £10,000Top Director SellsPrezzo (PRZ) Director name: Mr Jonathan KayeAmount sold: 1,300,000 @ 115.00p Value: £1,495,000Prezzo (PRZ) Director name: Mr Adam KayeAmount sold: 1,300,000 @ 115.00p Value: £1,495,000Prezzo (PRZ) Director name: Mr Samuel KayeAmount sold: 1,300,000 @ 115.00p Value: £1,495,000Netplay TV (NPT) Director name: Mr Andrew Christopher LappingAmount sold: 6,100,000 @ 18.01p Value: £1,098,610Netplay TV (NPT) Director name: Mr Charles A N ButlerAmount sold: 3,000,000 @ 17.51p Value: £525,300Close Brothers Group (CBG) Director name: Mr Preben PrebensenAmount sold: 32,222 @ 1,167.39p Value: £376,156Pennon Group (PNN) Director name: Mr C I J H DrummondAmount sold: 19,384 @ 699.20p Value: £135,533Allocate Software (ALL) Director name: Mr Terry OsborneAmount sold: 100,000 @ 101.00p Value: £101,000Netplay TV (NPT) Director name: Mr Andrew Christopher LappingAmount sold: 500,000 @ 18.00p Value: £90,000NR