Two N Brown execs trim holdings after stock's impressive rise

9th Jul 2013 16:05

Two long-standing executive boardmembers at internet shopping group N Brown have each sold a large chunk of shares in the company just a week after the firm's upbeat first-quarter trading update, taking advantage of the stock's stellar rise so far this year.Chief Executive Officer Alan White on Tuesday exercised 173,515 share options received under the firm's long-term incentive plan (LTIP) and subsequently sold these at a price of 489.5p, earning himself a total of £0.85m. The frontman, who was appointed back in 2002, now holds a 0.099% stake in the company.Meanwhile, Finance Director Dean Moore, who has been with the company since 2003, exercised 97,688 LTIP options and sold the shares at 489.5p each for £0.48m. He also decided to trim his holding by a further 200,000 shares, selling them at 490p each for £0.98m.N Brown, whose brands include Simply Be, Jacamo and Figleaves, has seen its stock surge by over a third in 2013 alone; it now stands over 90% higher than where it was last July.On July 2nd, the company said that underlying revenue growth had accelerated strongly in the first quarter of its financial year with all of its core products contributing.The FTSE 250 company had said in May that group revenues in the first seven weeks of the year to April 20th were up 6.3% with like-for-like sales 6.1% higher. This growth had sped up to 8.0% and 7.8%, respectively, in the 17 weeks to June 29th, helped by growth from all major brands, product groups and channels, including online, stores and international.Top Director BuysReconstruction Capital II Ltd. (RC2) Director name: Mr Ion Alexander FlorescuAmount purchased: 1,314,557 @ € 0.20 Value: € 263,963Jupiter European Opportunities Trust (JEO) Director name: Mr John WallingerAmount purchased: 12,500 @ 395.50p Value: £49,438Utilico Investments Ltd (DI) (UTL) Director name: Mr Eric St Clair StobartAmount purchased: 7,500 @ 135.00p Value: £10,125Hardide (HDD) Director name: Mr Philip KirkhamAmount purchased: 754,717 @ 1.32p Value: £9,962Hardide (HDD) Director name: Mr Robert GoddardAmount purchased: 754,717 @ 1.32p Value: £9,962Top Director SellsAurora Russia Ltd. (AURR) Director name: Mr Timothy SlesingerAmount sold: 4,864,127 @ 52.30p Value: £2,543,938Brown (N.) Group (BWNG) Director name: Mr Dean Roderick MooreAmount sold: 200,000 @ 490.00p Value: £980,000Brown (N.) Group (BWNG) Director name: Mr Dean Roderick MooreAmount sold: 97,688 @ 489.50p Value: £478,183Aurora Russia Ltd. (AURR) Director name: Hon Peregrine D E M MoncreiffeAmount sold: 327,067 @ 52.30p Value: £171,056PayPoint (PAY) Director name: Mr Andrew M RobbAmount sold: 12,000 @ 1,064.50p Value: £127,740Electrocomponents (ECM) Director name: Mr Ian MasonAmount sold: 47,322 @ 242.42p Value: £114,718SpaceandPeople (SAL) Director name: Mr Nancy J CullenAmount sold: 100,000 @ 95.00p Value: £95,000Electrocomponents (ECM) Director name: Mr Simon BoddieAmount sold: 31,548 @ 242.42p Value: £76,479