- IWG boss snaps up stock after share plunge
- Admiral directors sell stock to pay tax bill
- Keystone Law CEO buys nearly £500,000 worth of shares
Mark Dixon, the chief executive of Regus-owner IWG (IWG), has bought £1.2 million worth of shares in the serviced office provider. That’s the first time he has acquired more stock on the market since investing £91.3 million of his own money as part of IWG’s fundraise during the height of the pandemic in June 2020.
In August, IWG said it had benefited from the rise in hybrid working as more people split their working time between home and an office. For the first half of 2022, IWG said costs had gone up much less than revenue and that it was ‘cautiously optimistic’ on the outlook for the full year.
The market has not shared the company’s enthusiasm, with the stock continuing to fall amid fears that a recession would reduce demand for temporary workspaces. Year-to-date the shares have fallen by 59%.
In other director dealing news, two directors from insurer Admiral (ADM) received a chunk of shares awarded to them under the company’s discretionary free share scheme.
Chief executive Milena Mondini de Focatiis was awarded 35,487 shares and then sold half of them for £356,812 which will cost personal tax and National Insurance liabilities.
Chief financial officer Geraint Jones vested 41,886 shares from the same award scheme and sold half for £421,164, again for tax and National Insurance reasons.
Other notable director dealings over the past week include Keystone Law (KEYS:AIM) chief executive James Knight acquiring £449,995 worth of stock.
