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

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)
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Worldpay Group (wi) (WPG)
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Fdm Group (holdings) (FDM)
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Kromek Group (KMK)
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Purecircle Limited (di) (PURE)
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Purecircle Limited (di) (PURE)
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Amount purchased: 10,000 @ 380.00p
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Lakehouse (LAKE)
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Stock Spirits Group (STCK)
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Falcon Acquisitions (FAL)
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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
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Jarvis Securities (JIM)
Director name: Head ,Jolyon Christopher
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Mortgage Advice Bureau (holdings) (MAB1)
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Oxford Instruments (OXIG)
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Securities Trust Of Scotland (STS)
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Zotefoams (ZTF)
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Zotefoams (ZTF)
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Oxford Instruments (OXIG)
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Mitchells & Butlers (MAB)
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Kcom Group (KCOM)
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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