Rightmove Chairman sells 7m pounds of shares

27th May 2014 15:09

Rightmove's Chairman Scott Forbes has offloaded nearly a half of a holding in the property website group, selling over seven million pounds in shares.Forbes, who has been in his current role since 2005, sold 300,000 shares at an average price of 2,350.81p each, raising a total of £7.05m.Following the deal, his holding was reduced to 319,300 shares, representing a 0.3221% stake in the company.Rightmove said earlier this month that it had made a "positive start" to 2014 as audience continued to grow with page impressions up 14% in the first four months of the year.Meanwhile, the company generated a record 14.8m enquiries for its customers, up 30% on the year, while average revenues per advertiser showed "healthy growth".The business has been boosted over the past year by the recent boom in the UK housing market. However, competition has increased in recent months with rival firm Zoopla announcing its intention to float in June and another property portal called Agent Mutual due to launch next January.Rightmove's shares have fallen by around 15% in the year-to-date but have still risen by nearly 500% since the stock first listed in 2006.Top Director BuysEveryman Media Group (EMAN) Director name: Mr Adam KayeAmount purchased: 207,409 @ 89.00p Value: £184,594REA Holdings (RE.) Director name: Mr David BlackettAmount purchased: 10,000 @ 470.00p Value: £47,000Venn Life Sciences Holdings (VENN) Director name: Mr David Eric EvansAmount purchased: 210,000 @ 20.50p Value: £43,050Dunedin Enterprise Investment Trust (DNE) Director name: Mr Brian FinlaysonAmount purchased: 6,600 @ 429.78p Value: £28,365Wolf Minerals Limited (WLFE) Director name: Mr Russell Clark Amount purchased: 83,333 @ 30.00p Value: £25,000Kea Petroleum (KEA) Director name: Mr Ian Roderick Gowrie-SmithAmount purchased: 865,140 @ 1.95p Value: £16,870NWF Group (NWF) Director name: Mr Philip ActonAmount purchased: 10,000 @ 155.00p Value: £15,500Laird (LRD) Director name: Mr David LockwoodAmount purchased: 4,163 @ 283.59p Value: £11,806Top Director SellsRightmove (RMV) Director name: Mr Scott ForbesAmount sold: 300,000 @ 2,350.81p Value: £7,052,430Grafton Group Units (GFTU) Director name: Mr Gavin SlarkAmount sold: 41,700 @ 585.00p Value: £243,945Hansa Trust 'A' Non Voting Shares (HANA) Director name: Professor Geoffrey WoodAmount sold: 6,500 @ 960.00p Value: £62,400Hansa Trust (HAN) Director name: Professor Geoffrey WoodAmount sold: 5,000 @ 952.00p Value: £47,600Dunedin Enterprise Investment Trust (DNE) Director name: Mr Brian FinlaysonAmount sold: 5,975 @ 475.00p Value: £28,381BC