RBS directors sell as nine Burberry directors stock up

12th Sep 2012 16:41

Late on Tuesday afternoon it was announced that the Chief Executive of RBS Insurance, Paul Geddes, and the Chief Executive of RBS Markets and International Banking, John Hourican, have both sold shares in the government-owned lender. Geddes sold 39,489 ordinary shares on Monday at 245.71p each, while Hourican ditched 193,909 for 247.05p on the same day. The sales were made on the same day it was rumoured that the bank could start the process of spinning off its Direct Line Insurance Group by the end of this week. Quoting persons close to the discussions, news agency Bloomberg claimed RBS is poised to sell around a quarter of Direct Line through a stock market flotation to generate around £1.0bn, although no decision has yet been made about either timing or the valuation of the flotation. RBS was ordered by the European Union to sell the insurance unit after the bank received state aid. It appears to be a case of all hands on deck at fashion retailer Burberry this week, with nine directors purchasing shares on Tuesday and Wednesday. On Tuesday the company issued a profit warning, saying profits would be at the lower end of expectations this year, which sent its share price plunging 22%. Of the purchases, the largest were made by Chief Executive Officer Angela Ahrendts and Chairman Sir John Peace. Ahrendts bought up 50,000 shares for 1,086.00p each, totalling £543,000, while Peace added 20,000 to his holding, at 1,088.00p a pop, for which he paid a total of £217,600. In its announcement on Tuesday, Adrendts said the firm was taking steps to cut costs and maintain short-term profitability, added: "We are tightly managing discretionary costs and taking appropriate actions to protect short term profitability, while continuing to execute on our proven five key strategies," she said. Top Director BuysBurberry Group (BRBY) Director name: Ms Angela AhrendtsAmount purchased: 50,000 @ 1,086.00p Value: £543,000Burberry Group (BRBY) Director name: Mr John PeaceAmount purchased: 20,000 @ 1,088.00p Value: £217,600Croda International (CRDA) Director name: Mr Sean ChristieAmount purchased: 5,000 @ 2,429.00p Value: £121,450Burberry Group (BRBY) Director name: Mr Philip BowmanAmount purchased: 10,000 @ 1,101.00p Value: £110,100Tribal Group (TRB) Director name: Mr Keith EvansAmount purchased: 101,160 @ 91.93p Value: £92,996Burberry Group (BRBY) Director name: Ms Stephanie GeorgeAmount purchased: 5,000 @ 1,140.23p Value: £57,012Burberry Group (BRBY) Director name: Ms Stacey CartwrightAmount purchased: 5,000 @ 1,100.00p Value: £55,000Tribal Group (TRB) Director name: Mr Steve Breach Amount purchased: 50,204 @ 91.63p Value: £46,002Burberry Group (BRBY) Director name: Mr Ian CarterAmount purchased: 4,000 @ 1,088.00p Value: £43,520Burberry Group (BRBY) Director name: Mr David A TylerAmount purchased: 2,000 @ 1,104.50p Value: £22,090Top Director SellsEbiquity (EBQ) Director name: Ms Sarah Jane ThomsonAmount sold: 3,000,000 @ 90.00p Value: £2,700,000NR