Soon-to-retire Informa CEO sells up

11th Sep 2013 16:26

Informa's out-going Chief Executive, Peter Rigby, has reduced his stake by 285,372 shares ahead of his retirement from the B2B business information and publishing group later this year.The shares were sold at 532.42p each, pocketing the director £1.5m. Rigby announced his plans for retirement on July 10th. He will leave at the end of 2013 and be succeeded by Stephen Carter, currently a non-Executive Director. In the first half of the year the company posted a 1.2% rise in group organic revenue to £566.7m (H1 2012: £562.6m), but a wider statutory loss of £56.3m (H1 2012: £41.9m loss), reflecting the loss from discontinued operations of £115.7m. Rigby said at the time that it had been a "very busy six months" for the group, and described its financial performance as strong. He added: "The outlook for the second half is good and [...] underlying expectations for the full year are unchanged. Encouragingly, there are some tentative signs of improvement in areas that have proved particularly tough in recent years, providing grounds for cautious optimism." Rigby's total holding following the sale is 523,524 shares. Top Director BuysAvanti Communications Group (AVN) Director name: Mr F E John G BrackenburyAmount purchased: 34,731 @ 186.00p Value: £64,600Avanti Communications Group (AVN) Director name: Mr D Alan FosterAmount purchased: 35,000 @ 179.75p Value: £62,912Avanti Communications Group (AVN) Director name: Mr D Alan FosterAmount purchased: 20,000 @ 199.75p Value: £39,950Avanti Communications Group (AVN) Director name: Mr F E John G BrackenburyAmount purchased: 15,108 @ 230.00p Value: £34,748Avesco Group (AVS) Director name: Mr Richard A Murray-ObodynskiAmount purchased: 15,005 @ 200.00p Value: £30,010office2office (OFF) Director name: Mr James L (Jim) CohenAmount purchased: 41,850 @ 49.00p Value: £20,506Maven Income And Growth VCT 6 (MIG6) Director name: Mr Brian MayAmount purchased: 37,200 @ 37.00p Value: £13,764Maven Income And Growth VCT 6 (MIG6) Director name: Mr Brian MayAmount purchased: 30,000 @ 36.00p Value: £10,800Top Director SellsInforma (INF) Director name: Mr Peter RigbyAmount sold: 285,372 @ 532.42p Value: £1,519,378