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(Sharecast News) - Hargreaves Services revealed on Wednesday that chief executive Gordon Banham had tendered 199,300 shares into the company's recently completed tender offer, which formed part of a capitalreturn programme announced in late March.
Banham, who joined Hargreaves in 2001, sold the sahres at an average price of 850p each, for a total value of 1.69m.
Under the terms of the offer, shareholders were invited to sell a portion of their holdings back to the company at a fixed price, with directors committing to tender shares equal to their basic entitlement.
Following the transaction, Banham now holds 2.6m ordinary Hargreaves shares, giving him an 8.47% stake in the group.
As of 1525 BST, Hargreaves shares were up 1.12% at 813.01p.
Reporting by Iain Gilbert at Sharecast.com
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Top Director Sells
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Director name: Turian,James
Amount sold: 512,765 @ 535.00p
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Hargreaves Services (HSP)
Director name: Banham,Gordon Frank Colenso
Amount sold: 199,300 @ 850.00p
Value: 1,694,050.00
Hargreaves Services (HSP)
Director name: McDowell,Roger
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Director name: Craigen,Stephen
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Director name: Halkes,Nigel
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Value: 3,017.50
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Director name: Foots,Steve
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