TUI chief funds tax charges with share sale

19th Mar 2012 16:14

Johan Lundgren, Deputy Chief Executive Officer of TUI Travel, a FTSE 250 company, has sold 124,777 shares at 193.54p each, leaving him with a total of 882,964 shares. The director said the £241,493 sale was made to cover accumulated tax liabilities relating to his move from Sweden to the UK in 2009.The firm recently announced that although summer 2012 bookings during the key booking month of January were little changed from last year, it is doing a lot better than the rest of the industry.The group said it outperformed the UK leisure travel market with its bookings in January, with summer holiday reservations flat year-on-year against a 14% decline seen by the sector as a whole.Revenue rose 5% to £2,845m from £2,716m in the final quarter of 2010, while the underlying operating loss thickened to £109m from £86m the year before, largely as a result of fewer French holiday-makers en vacances in North Africa. Top Director BuysNew Europe Property Investments (NEPI) Director name: Mr Desmond de BeerAmount purchased: 21,225 @ € 3.51 Value: € 74,483CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 15,000 @ 600.00p Value: £90,000SABMiller (SAB) Director name: Mr Geoffrey BibleAmount purchased: 2,875 @ 2,653.30p Value: £76,282New Europe Property Investments (NEPI) Director name: Mr Desmond de BeerAmount purchased: 2,184 @ € 3.49 Value: €7,631Mandarin Oriental International (Singapore) (MDO) Director name: Mr Andrew HirstAmount purchased: 58,000 @ $0.70 Value: $40,7454Imprint Group (FOUR) Director name: Mr John Poulter Amount purchased: 10,000 @ 280.00p Value: £28,000ProVen Health VCT (PHV) Director name: Mr Peter ArthurAmount purchased: 51,750 @ 43.30p Value: £22,408CLS Holdings (CLI) Director name: Mr Richard TiceAmount purchased: 2,000 @ 599.71p Value: £11,994CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 1,734 @ 595.00p Value: £10,317Top Director SellsPrudential (PRU) Director name: Mr Mike WellsAmount sold: 31,372 @ 1,592.41p Value: £499,571Michael Page International (MPI) Director name: Mr Stephen PuckettAmount sold: 161,058 @ 479.00p Value: £771,468Michael Page International (MPI) Director name: Mr Stephen InghamAmount sold: 161,058 @ 479.00p Value: £771,468TUI Travel (TT.) Director name: Mr Johan LundgrenAmount sold: 124,777 @ 193.54p Value: £241,493Michael Page International (MPI) Director name: Mr Stephen InghamAmount sold: 36,741 @ 479.00p Value: £175,989Michael Page International (MPI) Director name: Mr Stephen PuckettAmount sold: 29,313 @ 479.00p Value: £140,409Pace (PIC) Director name: Mr Mike PulliAmount sold: 141,127 @ 91.04p Value: £128,482Mandarin Oriental International (Singapore) (MDO) Director name: Mr Andrew HirstAmount sold: 58,000 @ $1.61 Value: $93,490Prudential (PRU) Director name: Mr Barry StoweAmount sold: 11,322 @ 789.50p Value: £89,387Prudential (PRU) Director name: Mr Michael McLintockAmount sold: 5,006 @ 789.50p Value: £39,522