Director dealing: Paddy Power co-founder cashes in some shares

Directors in the newly merged Paddy Power Betfair (PPB) continue to take profits after the sealing of the deal.

Following the sale by group chief executive Breon Corcoran last week, Paddy Power co-founder Stewart Kenny pocketed almost €2.6m after selling 27,000 shares at €120.38 apiece.

Now a senior non-executive on the board of the enlarged group, Kenny was a co-founder of Paddy Power in 1988 and was chief executive the Irish bookie from that point until 2002 and chairman from 2002 to 2003. He still holds 330,432 shares, making his stake worth over £30m.

Last Thursday Corcoran sold £4.1m worth of his shares at 9,572.13p, but still has a 139,997-share stake that is worth roughly £12.9m.

This followed the publishing of both group's last set of separate results earlier in the week after the merger was completed in February. As such, the results reflected 20%-plus revenue growth in both Paddy Power's annual performance to 31 December 2015, and Betfair's third quarter results to 31 January.

Top Director Buys

Electrocomponents (ECM)
Director name: Egan ,David
Amount purchased: 70,000 @ 238.00p
Value: £166,600.01

Regus (RGU)
Director name: Pauly,Francois
Amount purchased: 37,718 @ 292.00p
Value: £110,136.56

Worldpay Group (wi) (WPG)
Director name: Oppenheimer,Deanna
Amount purchased: 30,000 @ 280.75p
Value: £84,224.58

Fdm Group (holdings) (FDM)
Director name: Martin,Ivan
Amount purchased: 8,000 @ 500.00p
Value: £40,000.00

Kromek Group (KMK)
Director name: Kinet,Lawrence Henry Neil
Amount purchased: 120,000 @ 32.25p
Value: £38,700.00

Purecircle Limited (di) (PURE)
Director name: Malsagov,Magomet
Amount purchased: 10,000 @ 380.00p
Value: £38,000.00

Purecircle Limited (di) (PURE)
Director name: Mitchell,William
Amount purchased: 10,000 @ 380.00p
Value: £38,000.00

Lakehouse (LAKE)
Director name: Simpson,Jeremy
Amount purchased: 70,990 @ 50.04p
Value: £35,523.40

Stock Spirits Group (STCK)
Director name: Stachowicz,Miroslaw
Amount purchased: 16,970 @ 147.40p
Value: £25,013.78

Falcon Acquisitions (FAL)
Director name: Gustafson,Mark
Amount purchased: 40,000 @ 14.70p
Value: £5,880.00

Falcon Acquisitions (FAL)
Director name: Gustafson,Mark
Amount purchased: 25,000 @ 14.40p
Value: £3,600.00

Falcon Acquisitions (FAL)
Director name: Gustafson,Mark
Amount purchased: 25,000 @ 14.00p
Value: £3,500.00

Jarvis Securities (JIM)
Director name: Head ,Jolyon Christopher
Amount purchased: 882 @ 339.55p
Value: £2,994.83

Mortgage Advice Bureau (holdings) (MAB1)
Director name: Tilley,Lucy
Amount purchased: 92 @ 330.00p
Value: £303.60

Oxford Instruments (OXIG)
Director name: Flint,David (Jonathan)
Amount purchased: 39 @ 699.25p
Value: £272.71

Securities Trust Of Scotland (STS)
Director name: Donaldson,Michael Neil
Amount purchased: 186 @ 130.81p
Value: £243.31

Zotefoams (ZTF)
Director name: Hurst,Clifford G
Amount purchased: 53 @ 288.00p
Value: £152.64

Zotefoams (ZTF)
Director name: Stirling,David
Amount purchased: 53 @ 288.00p
Value: £152.64

Oxford Instruments (OXIG)
Director name: Boyd,Kevin
Amount purchased: 21 @ 699.25p
Value: £146.84

Mitchells & Butlers (MAB)
Director name: Jones,Timothy (Tim) Charles
Amount purchased: 52 @ 268.35p
Value: £139.54

Kcom Group (KCOM)
Director name: Simpson,Paul
Amount purchased: 110 @ 113.00p
Value: £124.30

Top Director Sells

Paddy Power Betfair (PPB)
Director name: Kenny,Stewart
Amount purchased: 27,000 @ € 120.38
Value: € 2,590,880.77

Lakehouse (LAKE)
Director name: Simpson,Jeremy
Amount purchased: 71,430 @ 50.00p
Value: £35,715.00