- Babcock CEO offloads shares to meet tax liabilities
- Mitie CEO buy signals confidence in firm
- NatWest CFO Katie Murray and others sell up
David Lockwood, chief executive of aerospace and defence firm Babcock International (BAB), sold 79,574 shares at 376p on 9 August, netting proceeds of £298,000 to meet tax, national insurance contributions, dealing costs and ‘retention of the balance of shares.’
Lockwood was awarded 168,824 shares initially and after this sale retains 89,250 shares.
Babcock shares have performed well year-to-date rising 34% to the 391p mark after the company reported a positive set of results for the year ending 31 March 2023 with an 8% rise in revenue to £4.4 billion.
The group’s guidance for the 2024 financial year is unchanged although operating cash flow ‘may be weighted to the second half given the full year 2023 over-performance.’
MITIE CHIEF BUYS OVER 250,000 SHARES
Phillip Bentley, chief executive of outsourcing firm Mitie (MTO), bought 254,234 shares at 102p for a total outlay of £258,335 on 8 August.
Mitie shares have also performed well year-to-date rising nearly 30% to the 99p mark.
The outsourcing firm has had a chequered past with numerous profit warnings and a torrid time during the Covid pandemic, but this is starting to change with fresh management.
In June, Mitie reported record revenues of £4.05 billion for the 12 months to 31 June 2023 due to new contract wins and renewals.
NATWEST CFO AND OTHERS SELL UP AS PART OF SHARE PLAN
Katie Murray, chief financial officer at NatWest (NWG) sold 38,966 shares at 238p for a total haul of £92,723 on 9 August.
The sale forms part of the group’s 2014 employee share plan. Murray continues to hold 43,816 shares as part of the employee share plan.
The state-owned lender said: ‘The shares delivered represent payment of a fixed share allowance for the three-month period ending 30 September 2023 and have been calculated using a share price of £2.3796).’
Directors deals: NatWest CFO Murray sells over £1.5 million shares after government cuts stake
Other directors including Keiran Ford, chief risk officer, Scott Marcar, chief information officer and David Lindberg, head of retail banking, sold their shares to meet tax liabilities.
