Trifast execs make tidy sum through share option sale

21st Nov 2014 15:59

The chairman and boss of fastenings group Trifast have both raised £1.08m each after selling shares issued under the company's 2009 share option plan.Executive chairman Malcolm Diamond and chief executive Jim Barker, who have both been with the company for over three decades, were issued 1m shares each and sold the lot for 108p a piece.Diamond's and Barker's stakes in Trifast were left unchanged at 553,800 shares (a 0.46% stake) and 573,229 shares (0.49%), respectively.The company, which makes mechanical fasteners for the automotive, distribution, home appliances and electronics industries, last week hailed its "best trading period ever" as it reported a 14% rise in first-half profits to £4.3m.Revenues rose 13% to £74m, while margins improved and overheads reduced. The company also hiked its interim dividend by 50% to 0.6p per share.The shares have gained by over a third in 2014 alone and have risen by well over 300% since the same date in 2009. By Friday's close, the share price stood at 108p, giving the company a market capitalisation of around £123m. Top Director BuysSerco Group (SRP) Director name: Mr Angus CockburnAmount purchased: 84,600 @ 173.70p Value: £146,950Enteq Upstream (NTQ) Director name: Mr Robin H. PinchbeckAmount purchased: 148,701 @ 24.95p Value: £37,101Fenner (FENR) Director name: Mr Nick HobsonAmount purchased: 11,291 @ 257.00p Value: £29,018Future (FUTR) Director name: Ms Zillah Byng-MaddickAmount purchased: 185,018 @ 7.99p Value: £14,783Top Director SellsTrifast (TRI) Director name: Mr Jim BarkerAmount sold: 1,000,000 @ 108.00p Value: £1,080,000Trifast (TRI) Director name: Mr Malcolm DiamondAmount sold: 1,000,000 @ 108.00p Value: £1,080,000Stanley Gibbons Group (SGI) Director name: Mr Ian Gregory GoldbartAmount sold: 122,853 @ 300.00p Value: £368,559Young & Co's Brewery 'A' Shares (YNGA) Director name: Mr Torquil Sligo-YoungAmount sold: 12,000 @ 1,030.00p Value: £123,600Fidessa Group (FDSA) Director name: Mr Andy MalpassAmount sold: 2,100 @ 2,366.00p Value: £49,686Fidessa Group (FDSA) Director name: Mr Andy MalpassAmount sold: 1,350 @ 2,368.46p Value: £31,974Frenkel Topping Group (FEN) Director name: Mr Richard FraserAmount sold: 40,540 @ 37.00p Value: £15,000