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Director dealings: McColl's co-founder sells out

Wed 04 October 2017 15:28 | A A A

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(ShareCast News) - James Lancaster, the outgoing non-executive director and former chief executive of McColl's Retail Group announced on Wednesday that he was stepping down from the board with immediate effect.

McColl's then separately announced that Lancaster, who co-founded the company in 1973, had sold his 11,399,500 shares in the convenience store operator on Tuesday at 295p, their 52-week high, for a total of £33.63m.

Analysts at Liberum Capital said in April that, while they remained cautious on the retail sector due to impacts on margins as a result of higher labour and sourcing costs in a post-Brexit referendum Britain, they had identified McColl's as one of its "key long-term" winners as structural pressures on other retailers, such as M&S and Pets At Home, did not seemingly apply to the firm.

In its third-quarter trading update released on 31 August, McColl's reported a 31% rise in total revenue for the 13-week period to 27 August and a 15.8% jump year-to-date following the successful integration of 298 acquired convenience stores.

Lancaster, 69, said it was "the right time" to step down.

"I have every confidence that under the stewardship of the board, and in the capable hands of Jonathan Miller and his superb management team, McColl's will continue to thrive. I wish the group all the best for the future."

As of 1655 BST, shares were up 0.69% in Wednesday trading to 290.00p.

Top Director Buys

Symphony International Holdings Ltd. (SIHL)

Director name: Thadani,Anil

Amount purchased: 500,000 @ $0.88

Value: $440,000.00

Kingfisher (KGF)

Director name: Cosslett,Andrew

Amount purchased: 99,802 @ 301.00p

Value: £300,404.02

Big Yellow Group (BYG)

Director name: Cotton ,Richard

Amount purchased: 5,000 @ 772.70p

Value: £38,635.00

Avingtrans (AVG)

Director name: Thomas,Les

Amount purchased: 16,000 @ 214.00p

Value: £34,240.00

Vitec Group (VTC)

Director name: Kearney-Croft,Kath

Amount purchased: 2,700 @ 1,103.00p

Value: £29,781.00

Primorus Investments (PRIM)

Director name: Clayton,Alastair

Amount purchased: 2,750,000 @ 0.25p

Value: £6,875.00

Travis Perkins (TPK)

Director name: Williams,Alan

Amount purchased: 125 @ 1,430.00p

Value: £1,787.50

Personal Assets Trust (PNL)

Director name: Rushbrook ,Frank

Amount purchased: 4 @ 40,408.00p

Value: £1,616.32

Personal Assets Trust (PNL)

Director name: Rushbrook ,Frank

Amount purchased: 4 @ 40,407.60p

Value: £1,616.30

Primorus Investments (PRIM)

Director name: Clayton,Alastair

Amount purchased: 250,000 @ 0.23p

Value: £575.00

Lsl Property Services (LSL)

Director name: Crabb,Ian

Amount purchased: 62 @ 244.00p

Value: £151.28

Lsl Property Services (LSL)

Director name: Buck,Helen

Amount purchased: 62 @ 244.00p

Value: £151.28

Stagecoach Group (SGC)

Director name: Griffiths,Martin Andrew

Amount purchased: 86 @ 174.95p

Value: £150.46

Stagecoach Group (SGC)

Director name: Paterson,Ross

Amount purchased: 86 @ 174.95p

Value: £150.46

Lsl Property Services (LSL)

Director name: Castleton ,Adam

Amount purchased: 61 @ 244.00p

Value: £148.84

Marshalls (MSLH)

Director name: Coffey,Martyn

Amount purchased: 34 @ 435.32p

Value: £148.01

Marshalls (MSLH)

Director name: Clarke,Jack

Amount purchased: 34 @ 435.32p

Value: £148.01

Ultra Electronics Holdings (ULE)

Director name: Sharma,Rakesh

Amount purchased: 8 @ 1,803.00p

Value: £144.24

Ultra Electronics Holdings (ULE)

Director name: Sharma,Ami

Amount purchased: 8 @ 1,803.00p

Value: £144.24

Ultra Electronics Holdings (ULE)

Director name: Harris,Sharon

Amount purchased: 7 @ 1,803.00p

Value: £126.21

Rps Group (RPS)

Director name: Young, Gary

Amount purchased: 43 @ 288.00p

Value: £123.84

Top Director Sells

Mccoll's Retail Group (MCLS)

Director name: Lancaster,James

Amount sold: 11,399,500 @ 295.00p

Value: £33,628,525.54

Rightmove (RMV)

Director name: Brooks-Johnson,Peter

Amount sold: 30,907 @ 4,103.10p

Value: £1,268,145.06

Rightmove (RMV)

Director name: Brooks-Johnson,Peter

Amount sold: 25,099 @ 4,103.10p

Value: £1,029,837.02

Vitec Group (VTC)

Director name: Bird,Stephen

Amount sold: 75,000 @ 1,103.00p

Value: £827,249.98

Rightmove (RMV)

Director name: Brooks-Johnson,Peter

Amount sold: 6,320 @ 4,120.30p

Value: £260,402.95

Scottish Mortgage Inv Trust (SMT)

Director name: Subacchi ,Paola

Amount sold: 5 @ 425.50p

Value: £21.28

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