WH Smith Chief sells 40% of her shares in the firm

2nd Feb 2012 15:31

Kate Swann, Chief Executive of WH Smith, the books and stationary retailer, has sold a sizeable chunk of her stake in the firm to raise capital to buy herself more property, according to a company spokesperson. Swann, who is widely held responsible for turning the company around since her arrival in 2003, sold off 425,000 shares at 550.74p each, for a total of £2.34m. The sale equates to 40% of her previously owned stake. She now holds 0.47% of the firm's shares and remains the largest single shareholder. The chain has done well in the past year, gaining 18% on its share price, although suffering a little of late. However, the firm most recently reported that its rate of decline has eased as sales in the final month of 2011 were not hit by fierce weather conditions like they were in 2010. Swann said in the report that the company had put in a resilient performance in difficult trading conditions."Gross margin was in line with plan and costs were tightly controlled," she said. Top Director BuysVirgin Media Inc. (VMED) Director name: Mr William HuffAmount purchased: 187,500 @ 1,775.84p Value: £3,329,700Virgin Media Inc. (VMED) Director name: Mr William HuffAmount purchased: 62,500 @ 973.48p Value: £608,425Probability (PBTY) Director name: Mr Mark Davies Amount purchased: 32,894 @ 76.00p Value: £24,999Herald Inv Trust (HRI) Director name: Mr Stewart Newton Amount purchased: 5,000 @ 490.50p Value: £24,525Cranswick (CWK) Director name: Mr Steven EsomAmount purchased: 1,441 @ 793.00p Value: £11,427Top Director SellsWH Smith (SMWH) Director name: Ms Kate SwannAmount sold: 425,000 @ 550.74p Value: £2,340,645Virgin Media Inc. (VMED) Director name: Mr William HuffAmount sold: 44,734 @ 1,922.15p Value: £859,855Babcock International Group (BAB) Director name: Mr William (Bill) TameAmount sold: 60,531 @ 741.30p Value: £448,716Cranswick (CWK) Director name: Mr Martin T P DaveyAmount sold: 25,000 @ 790.00p Value: £197,500Cranswick (CWK) Director name: Mr Bernard HoggarthAmount sold: 25,000 @ 790.00p Value: £197,500Cranswick (CWK) Director name: Mr Adam CouchAmount sold: 25,000 @ 790.00p Value: £197,500Euromoney Institutional Investor (ERM) Director name: Mr Peter Richard EnsorAmount sold: 5,133 @ 685.00p Value: £35,161Euromoney Institutional Investor (ERM) Director name: Mr Colin Robert JonesAmount sold: 2,000 @ 685.00p Value: £13,700NR