Son of Air Partner founder sells shares and announces retirement

6th Nov 2013 15:13

Tony Mack, Non-Executive Director of Air Partner, a provider of aviation charter services, has reduced his stake by over a third and announced his plans to retire in June next year. He sold a total of 360,067 shares, reducing his stake to 700,000 shares, equal to 6.8% of the issued share capital. The shares were sold at 500p each for a total trade value of £1.8m. Mack, whose father Tony Mack Senior founded the company, also accepted the honorary position of Life President, which the group said reflected his "commitment and support to Air Partner throughout 40 years of service".Mack said: "My father started Air Partner in 1961 and I have worked at the company in an executive and non-executive capacity for over 40 years. Looking back I feel a great sense of pride for what has been achieved by everyone at Air Partner. "Air Partner has a strong management team and is well positioned for further growth. As a significant shareholder and Life President I look forward to continuing my association with Air Partner."Top Director BuysSwallowfield (SWL) Director name: Mr Brendan HynesAmount purchased: 50,000 @ 78.00p Value: £39,000Swallowfield (SWL) Director name: Mr Chris HowAmount purchased: 40,000 @ 78.00p Value: £31,200Swallowfield (SWL) Director name: Mr Roger McDowellAmount purchased: 30,000 @ 78.00p Value: £23,400French Connection Group (FCCN) Director name: Mr Adam Castleton Amount purchased: 33,000 @ 37.50p Value: £12,375Top Director SellsAllocate Software (ALL) Director name: Mr Ian BowlesAmount sold: 668,802 @ 112.00p Value: £749,058Hardy Oil & Gas (HDY) Director name: Mr Yogeshwar SharmaAmount sold: 500,000 @ 100.00p Value: £500,000NR