Date: Monday 14 Jun 2010
John Hutson, the chief executive of pub operator JD Wetherspoon, has sold nearly one-third of his shareholding in the company.Hutson sold 30,000 shares at 429p each, which leaves him with 61,628 shares.
This is the second sale in less than three months. He sold 20,000 shares at 516.8p a share early in April.
Hutson has raised just over £232,000 from these two disposals.
Exeter University graduate Hutson joined Wetherspoon in 1991. He has been chief executive since April 2004.
Wetherspoon has scaled back its expansion plans after a deterioration in trading since the beginning of the year. Wetherspoon says it will open 45 pubs this financial year, less than the 50 it envisaged opening in its trading update in January.
Sales in the 13 weeks to April 25 were down by 0.8% on the same period last year, a sharper fall than the 0.4% decline seen in the previous six week period.
Top Director Buys
Vectura Group (VEC)
Director name: Mr Jack Cashman
Amount purchased: 345,666 @ 41.90p
Value: £144,834
Soco International (SIA)
Director name: Dr Mike J Watts
Amount purchased: 23,553 @ 424.56p
Value: £99,997
Capital & Counties Properties (CAPC)
Director name: Mr Ian Durant
Amount purchased: 50,000 @ 104.72p
Value: £52,360
Mid Wynd International Inv Trust (MWY)
Director name: Mr Russell Napier
Amount purchased: 5,000 @ 960.00p
Value: £48,000
Alternative Invest Strategies Sterling Hedged (AIS)
Director name: Mr Duncan Baxter
Amount purchased: 10,000 @ 103.00p
Value: £10,300
Top Director Sells Reckitt Benckiser Group (RB.)
Director name: Mr Bart Becht
Amount sold: 50,260 @ 3,251.27p
Value: £1,634,088
Eurovestech (EVT)
Director name: Mr Richard Grogan
Amount sold: 1,000,000 @ 13.50p
Value: £135,000
JD Wetherspoon (JDW)
Director name: Mr John Hutson
Amount sold: 30,000 @ 429.00p
Value: £128,700
Schroder Oriental Income Fund (SOI)
Director name: Mr Peter Rigg
Amount sold: 10,000 @ 128.11p
Value: £12,811
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