Polypipe executives cash in to cover tax liabilities

It was another case of directors selling shares to satisfy tax liabilities on Thursday.

Polypipe chief executive David Hall and chief financial officer Peter Shepherd sold 2m shares, approximately each to cover their personal tax liabilities.

The pair cashed in £3.35m each to cover the bill, leaving Hall with a 2.94% stake in the company, and Shepherd a 1.24% stake.

The company said the directors have no intention to sell any additional shares in the immediate future.

Meanwhile AIM-listed Stellar Diamonds has issued shares to a number of directors in lieu of outstanding fees as announced in early November.

Because the company was in a close period at the time it was announced, it wasn’t able to issue the shares to them until today.

The allocation of shares will be subject to a lock-in period of six months from the date of admission.

Top Director Buys

Hiscox Limited (DI) (HSX)
Director name: Mr Colin D Keogh
Amount purchased: 5,000 @ 1,047.74p
Value: £52,387

Croda International (CRDA)
Director name: Mr Jez K Maiden
Amount purchased: 1,600 @ 2,890.00p
Value: £46,240

Fidelity European Values (FEV)
Director name: Mr Vivian Bazalgette
Amount purchased: 20,000 @ 170.00p
Value: £34,000

Spirax-Sarco Engineering (SPX)
Director name: Mr Nicholas John Anderson
Amount purchased: 1,000 @ 3,145.00p
Value: £31,450

Gemfields (GEM)
Director name: Mr Finn Behnken
Amount purchased: 75,000 @ 39.07p
Value: £29,302

Atlas Mara Limited (DI) (ATMA)
Director name: Mr Robert E. Diamond
Amount purchased: 4,820 @ $5.66
Value: $27,281

Stock Spirits Group (STCK)
Director name: Mr Lesley Jackson
Amount purchased: 23,296 @ 106.25p
Value: £24,752

Stellar Diamonds (STEL)
Director name: Mr Karl Smithson
Amount purchased: 364,123 @ 6.55p
Value: £23,850

Atlas Mara Limited (DI) (ATMA)
Director name: Mr John Vitalo
Amount purchased: 3,860 @ $5.66
Value: $21,848

Stellar Diamonds (STEL)
Director name: Mr Lord Daresbury
Amount purchased: 330,280 @ 6.55p
Value: £21,633

Top Director Sells

Polypipe Group (PLP)
Director name: Mr David Graham Hall
Amount sold: 1,000,000 @ 335.00p
Value: £3,350,000

Polypipe Group (PLP)
Director name: Mr Peter David Shepherd
Amount sold: 1,000,000 @ 335.00p
Value: £3,350,000

A&J Mucklow Group (MKLW)
Director name: Mr Justin Parker
Amount sold: 2,350 @ 513.00p
Value: £12,056

Rensburg AIM VCT (RSB)
Director name: Mr Peter Smart
Amount sold: 29,000 @ 39.16p
Value: £11,356