Bosses cash in after strong Lamprell results
Shares in AIM-listed oil services firm Lamprell fell today after two of its bosses sold a combined total of nearly £10m in shares.
Chief executive Peter Whitbread made £5m, selling 1.25m shares in the company at 400p a go, while chief operating officer David Moran sold 1.09m shares at the same price, earning £4.36m.
The sales leave Whitbread and Moran, who both joined the company in 1992, with respective stakes of 1.55m shares in the company, or around 0.8%, and 0.81m shares, or 0.4%.
Shares jumped on March 26 after the group said it exceeded its initial projections for 2007 and that 2008 has started well with further contract wins and project progress across several fronts.
It posted a 51% increase in net profit, adjusted for exceptional charges, to $86.2m for the year ended 31 December 2007 on revenue up 42% to $467.3m.
"Our debt free position, combined with strong cash generation, supports our investment plans for the new facilities which in turn will enable us to realise our expansion plans for the business," said Whitbread.
"Going forward we see these dynamics for growth, development and success helping to underpin our business model and the strong client retention that we have maintained."
Top Director Buys
Dolphin Capital Investors (DCI)
Director name: Mr Miltos Kambourides
Amount purchased: 175,000 @ 132.50p
Value: £231,875
Misys (MSY)
Director name: Mr John G. King
Amount purchased: 50,000 @ 139.56p
Value: £69,780
Panceltica Holdings (PANC)
Director name: Mr John Colin Fitzpatrick
Amount purchased: 100,000 @ 111.00p
Value: £111,000
Helphire Group (HHR)
Director name: Mr Mark Adams
Amount purchased: 60,000 @ 180.00p
Value: £108,000
OPD Group (OPD)
Director name: Mr Peter Hearn
Amount purchased: 40,000 @ 179.00p
Value: £71,600
Croma Group (CMG)
Director name: Mr Sebastion Morley
Amount purchased: 1,350,000 @ 3.40p
Value: £45,900
VT Group (VTG)
Director name: Mr Philip Harrison
Amount purchased: 4,573 @ 655.80p
Value: £29,990
Imaginatik (IMTK)
Director name: Mr Howard Marshall
Amount purchased: 625,000 @ 4.00p
Value: £25,000
Silence Therapeutics (SLN)
Director name: Mr H R Peter Reynolds
Amount purchased: 50,000 @ 47.50p
Value: £23,750
Mountview Estate (MTVW)
(Article continues below)Advertisement
Director name: Mr K Langrish-Smith
Amount purchased: 500 @ 4,550.00p
Value: £22,750
Top Director Sells
Kingspan Group (KGP)
Director name: Mr Brendan Murtagh
Amount sold: 714,689 @ € 8.50
Value: € 6,074,856
Lamprell (LAM)
Director name: Mr Peter Whitbread
Amount sold: 1,250,000 @ 400.00p
Value: £5,000,000
Lamprell (LAM)
Director name: Mr David Moran
Amount sold: 1,090,000 @ 400.00p
Value: £4,360,000
Reuters Group (RTR)
Director name: Mr Niall FitzGerald
Amount sold: 80,000 @ 579.00p
Value: £463,200
Bateman Litwin N.V. (BNLN)
Director name: Mr Shuki Raz
Amount sold: 150,404 @ 217.00p
Value: £326,377
Bateman Litwin N.V. (BNLN)
Director name: Mr Eyal Cohen
Amount sold: 90,094 @ 217.00p
Value: £195,504
Imaginatik (IMTK)
Director name: Mr Mark Turrell
Amount sold: 4,025,000 @ 4.00p
Value: £161,000
Keller Group (KLR)
Director name: Mr Justin R Atkinson
Amount sold: 19,270 @ 676.00p
Value: £130,265
Keller Group (KLR)
Director name: Mr James Hind
Amount sold: 13,120 @ 667.60p
Value: £87,589
BATM Advanced (BVC)
Director name: Dr Dan Kaznelson
Amount sold: 100,000 @ 37.50p
Value: £37,500
