- Bellway director sells 27,303 shares
- Supreme director sells 1.6 million shares
- XPS Pensions CFO sells £223,881 worth of shares
In the run-up to the Budget on 30 October, many directors have been selling shares in anticipation of a hike in capital gains tax.
A person closely associated (PCA) with Keith Adey executive director of Tyne and Wear-based housebuilder Bellway (BWY) has sold 27,303 shares for £32.57 for a total value of £889,231 on 16 October.
The move comes after the company’s shares hit a 12-month high on 15 October after the housebuilder issued a positive outlook (due to the new government’s pro-housing policies) despite reporting a 30% fall in both completions and revenue for the year ending 31 July.
Over the past year Bellway shares have gained 52%.
SUPREME TOP DOG SELLS 1.6 MILLION SHARES
Sandeep Chadha, chief executive of fast-moving consumer products maker Supreme (SUP:AIM) sold 1.6 million shares at 160p for a total value of £2.56 million on 14 October to an institutional shareholder ‘to meet investor demand’.
Following this disposal, Chadha retains an interest in 65,666,845 ordinary shares, representing approximately 56.31% of the issued share capital of the company.
Supreme shares are up 46% year-to-date, although at one stage over the summer they had almost doubled to 200p.
XPS PENSIONS CFO SELLS AFTER STRONG UPDATE
The chief financial officer of pension consulting and administration firm XPS Pensions (XPS), Snehal Shah sold 66,830 shares at 335p in a trade with a total value of £223,881 (17 October).
His move followed a positive first-half trading update (16 October) which helped push the shares to all-time highs.
For the six months to the end of September 2024, revenue from continuing operations increased 23%, driven by client demand, expansion of services and the lagged effect of annual price increases.
