St James's Place CFO sells 1.2m-pound of shares

5th Aug 2013 16:05

David Lamb, the Managing Director of wealth management firm St James's Place sold nearly 1.2m pounds of shares in the company after exercising options as part of the company's performance share plan (PSP).Lamb, who joined the firm back in 1992 and the board in December 2007, exercised 185,285 nil cost options under the 2005 PSP on Friday after meeting certain performance targets.The shares were then sold, 87,084 of which were disposed of in a separate transaction to meet the cost of income tax and national insurance costs payable on the exercise of the awards.The sales were made at a price of 632.23p a share, with both transactions totalling £1.17m.His holding was maintained at 415.003 shares.Earlier in the week, the company impressed the market with its interim results reporting a 21% increase in total new business on an annual premium equivalent basis to £426.5m. Funds under management jumped 29% to £39.9bn, while the company raised its first-half dividend by 50% to 6.38p a share.The stock has jumped by 50% so far this year.Top Director BuysBlackrock Frontiers Investment Trust C Shs (BRFC) Director name: Mr Nicholas Pitts-TuckerAmount purchased: 40,000 @ 100.00p Value: £40,000Aberforth Smaller Companies Trust (ASL) Director name: Mr Paul Trickett Amount purchased: 2,500 @ 945.00p Value: £23,625Intu Properties (INTU) Director name: Mr Andrew J M HuntleyAmount purchased: 6,000 @ 332.72p Value: £19,963Aberforth Geared Income Trust (AGIT) Director name: Mr Mike GreigAmount purchased: 9,114 @ 140.25p Value: £12,782COLT Group SA (COLT) Director name: Mr Anthony L P RabinAmount purchased: 10,000 @ 102.20p Value: £10,220F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 10,000 @ 100.42p Value: £10,042F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 10,000 @ 100.42p Value: £10,042Top Director SellsKCOM Group (KCOM) Director name: Mr Paul SimpsonAmount sold: 930,000 @ 83.65p Value: £777,945St James's Place (STJ) Director name: Mr David LambAmount sold: 98,201 @ 632.23p Value: £620,856St James's Place (STJ) Director name: Mr David LambAmount sold: 87,084 @ 632.23p Value: £550,571Brammer (BRAM) Director name: Mr Paul ThwaiteAmount sold: 24,277 @ 415.00p Value: £100,750BC