Directors dealings: Shell finance chief takes some chips off the table
Royal Dutch Shell's finance boss took advantage of the jump in the company's share price immediately following OPEC's decision to cut its output to sell some of his holdings in the oil producer.
According to a statement issued by the company, Simon Henry unloaded 50,000 B-shares at an individual price of 2163p, allowing him to pocket £1,081,500.
On 11 November, and in remarks to The Wall Street Journal, the firm´s executive vice president for deep-water, Wael Sawan, said Shell would invest $10bn more in the country, on top of the $30bn already deployed in South America´s largest economy.
Sawan´s remarks followed a meeting earlier in the week between Shell boss Ben van Beurden and Brazil´s new president, Michel Temer, and easier restrictions on foreign investment in such fields since Temer came to power.
More recently, on 2 November, analysts at UBS emphasised the need for Shell "to deliver" on its plans to dispose of $30bn worth of assets in order to reduce gearing and permit deployment of the operating cashflow towards a full cash dividend (and ultimately a buy-back).
That, the Swiss broker said, "will be a major catalyst to realising the full value of the Shell-BG combination in the share price. The good news is the scenario of a comfortable covering of capex and dividend commitments at <$60/bbl looks highly plausible."
Top Director Buys
President Energy (PPC)
Director name: Levine,Peter M
Amount purchased: 181,616,208 @ 6.00p
Value: £10,896,972.24
Hikma Pharmaceuticals (HIK)
Director name: Darwazah,Mazen
Amount purchased: 350,000 @ 1,674.00p
Value: £5,858,999.92
Riverstone Energy Limited (RSE)
Director name: Leuschen,David M
Amount purchased: 20,000 @ 1,294.33p
Value: £258,866.00
Riverstone Energy Limited (RSE)
Director name: Ryan,Ken
Amount purchased: 16,000 @ 1,299.00p
Value: £207,840.00
Riverstone Energy Limited (RSE)
Director name: Lapeyre Jr.,Pierre F
Amount purchased: 15,000 @ 1,308.00p
Value: £196,200.00
Personal Group Holdings (PGH)
Director name: Rooney,Ken W
Amount purchased: 5,402 @ 370.00p
Value: £19,987.40
Avon Rubber (AVON)
Director name: Rennie ,Rob
Amount purchased: 615 @ 1,029.00p
Value: £6,328.35
Legal & General Group (LGEN)
Director name: Gregory,Mark
Amount purchased: 92 @ 239.15p
Value: £220.02
Legal & General Group (LGEN)
Director name: Wilson,Nigel
Amount purchased: 81 @ 239.15p
Value: £193.71
Ultra Electronics Holdings (ULE)
Director name: Thomson,K
Amount purchased: 8 @ 2,016.00p
Value: £161.28
Ultra Electronics Holdings (ULE)
Director name: Sharma,Ami
Amount purchased: 8 @ 2,016.00p
Value: £161.28
Centrica (CNA)
Director name: Hodges,Mark
Amount purchased: 73 @ 207.64p
Value: £151.58
Centrica (CNA)
Director name: Hanafin,Mark
Amount purchased: 72 @ 207.64p
Value: £149.50
Ultra Electronics Holdings (ULE)
Director name: Sharma,Rakesh
Amount purchased: 7 @ 2,016.00p
Value: £141.12
Ultra Electronics Holdings (ULE)
Director name: Anderson,Mark
Amount purchased: 7 @ 2,016.00p
Value: £141.12
Ultra Electronics Holdings (ULE)
Director name: Anderson,Mark
Amount purchased: 7 @ 2,016.00p
Value: £141.12
Tesco (TSCO)
Director name: Stewart,Alan
Amount purchased: 67 @ 205.93p
Value: £137.97
Top Director Sells
Royal Dutch Shell 'a' (RDSA)
Director name: Henry,Simon
Amount sold: 50,000 @ 2,163.00p
Value: £1,081,499.96
Abcam (ABC)
Director name: Warwick,P.
Amount sold: 30,000 @ 808.37p
Value: £242,512.49
Sthree (STHR)
Director name: Hughes,Justin
Amount sold: 21,000 @ 275.00p
Value: £57,750.00
Netcall (NET)
Director name: Neville ,Michael (Mike) Patrick
Amount sold: 100,000 @ 55.00p
Value: £55,000.00
Netcall (NET)
Director name: Jackson,Michael
Amount sold: 100,000 @ 55.00p
Value: £55,000.00