Hargreaves Lansdown

Director dealings: St Modwen CEO makes share purchase

Mon 16 November 2020 15:46 | A A A

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(Sharecast News) - St Modwen Properties revealed on Monday that chief executive officer Sarwjit Sambhi had acquired 25,200 ordinary shares in the FTSE 250-listed property investment and development business.

Sambhi, who took over as CEO on 2 November, purchased the shares on Thursday at an average price of 396.61p each, for a total value of £99,945.72.

Back in July, St Modwen swung to a first-half loss and cut its dividend after a writedown in asset valuations on sites in Wales.

Pre-tax losses for the six months to May 30 came in at £150.5m, compared with a profit of £35.6m a year ago. The company declared an interim dividend of 1.1p per share, down from 3.6p.

As of 1630 GMT, St Modwen shares were up 4.41% at 396.75p.

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