- Lok’nStore director cashes in on strong performance
- IHG chair increases stake
- Serco CEO sells shares to meet Australian tax liabilities
Andrew Jacobs, chairman of self-storage firm Lok’nStore (LOK:AIM), has sold £10 million worth of shares to meet demand for stock from institutional investors. He is still left with nearly 4.4 million shares, equal to 14.5% of the company.
The disposal follows half-year results on 24 April which saw Lok’nStore report an 11.2% increase in same-store group revenue to £13.2 million and a 15% increase in the dividend to 5.75p per share.
IHG DIRECTOR SNAPS UP SHARES
Deanna Oppenheimer, chair of Intercontinental Hotels (IHG), bought 5,000 shares at $68.89 per share, for a total value of $344,450.
InterContinental Hotels, which operates brands such as InterContinental, Crowne Plaza and Holiday Inn, recently reported a 33% rise in its revenue per available room for the first quarter of 2023 and appointed a new chief executive in Elie Maalouf, effective from 1 July.
Maalouf will take over from Keith Barr who has spent more than 30 years with the business.
The hotel businesses had a good start to the year, with occupancy ‘almost back up to pre-Covid levels’, and strong trading in both the Americas and EMEAA (Europe, Middle East, Africa and Australasia) and China after the lifting of travel restrictions.
SERCO CEO IRWIN SELLS SHARES TO MEET TAX LIABILITIES
Mark Irwin, CEO of outsourcing company Serco (SRP), has sold 105,359 shares at 151p for a total value of £158,882. This stock was just under half the amount he acquired as part of a share award scheme and the disposal was made to cover Australian tax obligations relating to when Irwin was CEO of Serco Asia-Pacific.
Following this share sale, Irwin’s share ownership remains ‘in excess of the group remuneration policy guideline of 200% of salary.’
Irwin joined Serco in 2013 and ran Serco’s Asia-Pacific region between 2014-20 before moving from Australia to lead the UK & Europe Division. He took over from Rupert Soames as CEO at the start of 2023.
