Smith raises £7.1m in Collins Stewart sale

25th Oct 2010 17:24

Having announced his retirement as deputy chairman less than two weeks ago, Terry Smith did not waste much time before selling his entire beneficial holding of 8.93m shares in stockbroking firm Collins Stewart.Smith, who will quite the board of Collins Stewart to focus on his role as chief executive officer at inter-dealer broker Tullett Prebon sold his shares at 80p a pop, enabling him to trouser more than £7.1m.Smith will give up his seat on Collins Stewart's board on 6 December, ending an 18-year association with the firm. Tim Ingram, chairman of Collins Stewart, said: "Terry Smith has been synonymous with Collins Stewart for many years and has been hugely influential in the development of the company and the creation of shareholder value." Top Director BuysFiberweb (FWEB) Director name: Mr Malcolm CosterAmount purchased: 50,000 @ 82.00p Value: £41,000IDOX (IDOX) Director name: Mr Christopher WrightAmount purchased: 210,000 @ 12.40p Value: £26,040H.R. Owen (HRO) Director name: Mr Jon WaldenAmount purchased: 24,000 @ 88.50p Value: £21,240Henderson Diversified Income Ltd. (HDIV) Director name: Mr Paul V F S ManducaAmount purchased: 20,000 @ 82.50p Value: £16,500Aminex (AEX) Director name: Mr Keith Phair Amount purchased: 194,921 @ 7.49p Value: £14,600Top Director SellsCollins Stewart (CLST) Director name: Mr Terry SmithAmount sold: 8,930,779 @ 80.00p Value: £7,144,623City of London Investment Group (CLIG) Director name: Mr Barry M OlliffAmount sold: 500,000 @ 400.00p Value: £2,000,000Bahamas Petroleum Co (BPC) Director name: Mr Alan R BurnsAmount sold: 10,000,000 @ 6.98p Value: £698,000Shanta Gold Ltd. (SHG) Director name: Mr Walter David ScottAmount sold: 250,000 @ 28.00p Value: £70,000