Babcock and Scapa directors lose millions in share awards to tax obligations

Babcock International Group’s directors all saw their net worth go up on Tuesday, however it was hit slightly due to tax obligations.

Chief executive Peter Rogers, international division boss William Tame, executive director Kevin Thomas, and support services boss John Davies exercised a number of share awards.

However to fulfill tax obligations and the cost of the deal, each director had to cash up a portion of the shares.

While Rogers acquired the lion’s share with 229,755 shares, he was hit the hardest, having to cough up nearly half that with a value of £1.1m.

It was a similar story at Scapa Group, with two directors receiving shares under an award scheme but having to pay the tax man at the end of the day.

Group chief executive Heejae Chae had the most to lose, selling 600,000 shares for £1.2m to cover his obligations.

Top Director Buys

Electra Private Equity (ELTA)
Director name: Mr Edward Bramson
Amount purchased: 6,402 @ 3,607.00p
Value: £230,920

G4S (GFS)
Director name: Mr Himanshu Raja
Amount purchased: 50,000 @ 225.10p
Value: £112,550

Stock Spirits Group (STCK)
Director name: Mr David Maloney
Amount purchased: 20,000 @ 105.62p
Value: £21,124

Top Director Sells

Scapa Group (SCPA)
Director name: Mr Heejae Chae
Amount sold: 600,000 @ 199.60p
Value: £1,197,600

Babcock International Group (BAB)
Director name: Mr Peter L Rogers
Amount sold: 103,659 @ 1,078.88p
Value: £1,118,356

Scapa Group (SCPA)
Director name: Mr Paul Edwards
Amount sold: 269,503 @ 199.60p
Value: £537,928

Babcock International Group (BAB)
Director name: Mr Kevin Thomas
Amount sold: 46,805 @ 1,078.88p
Value: £504,970

Babcock International Group (BAB)
Director name: Mr William (Bill) Tame
Amount sold: 35,061 @ 1,071.00p
Value: £375,503

Babcock International Group (BAB)
Director name: Mr John Davies
Amount sold: 19,251 @ 1,078.88p
Value: £207,695

AdEPT Telecom (ADT)
Director name: Mr Dusan Lukic
Amount sold: 45,000 @ 260.00p
Value: £117,000

Haydale Graphene Industries (HAYD)
Director name: Mr Raymond (Ray) John Gibbs
Amount sold: 40,500 @ 170.50p
Value: £69,052