Debenhams finance chief sells

Oct 29, 2009

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Debenhams finance director Christopher Woodhouse has sold £7.24m worth of shares in the department stores operator.

The share sales took place between 22 and 28 October. Woodhouse is left with 3.15m shares, which are equivalent to 0.24% of Debenhams. The previous trading activity in the shares was in December 2008 when Woodhouse bought 229,869 shares at a price of 23.33p each.

Woodhouse has been finance director of Debenhams since it refloated in May 2006. He was finance director of Debenhams Ltd from December 2003, after the company was taken private, until the flotation.

This sale comes at a time when Texas Pacific Group sold its remaining 9.4% stake to Och Ziff Management for around £100m. In fact, Och Ziff acquired an additional 10m shares when it bought the TPG stake, which took its stake to 11.52%.

Debenhams, which has 144 department stores in the UK and Ireland, raised £323m in a placing and open offer at 80p a share in June.

Top Director Buys PetroLatina Energy (PELE) Director name: Mr Luc Gerard Amount purchased: 100,000 @ 56.50p

Value: £56,500

Top Director Sells Debenhams (DEB) Director name: Christopher Woodhouse Amount sold: 8,676,277 @ 83.5p

Value: £7,241,032

BP (BP.) Director name: Dr Dr Anthony (Tony) B Hayward Amount sold: 220,000 @ 587.50p

Value: £1,292,500

Jardine Matheson (Singapore) (JAR) Director name: Mr Adam Phillip Charles Keswick Amount sold: 10,000 @ $30.46

Value: $304,630

Jardine Matheson (Singapore) (JAR) Director name: Mr Benjamin William Keswick Amount sold: 10,000 @ $30.46

Value: $304,630

Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L Keswick Amount sold: 10,000 @ $30.46

Value: $304,630

Jardine Matheson (Singapore) (JAR) Director name: Mr E P K Weatherall Amount sold: 10,000 @ $30.46

Value: $304,630

Mondi (MNDI) Director name: Mr Peter Oswald Amount sold: 71,500 @ 337.60p

Value: £241,384

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