After a strong bounce back in share prices over the past two months, a number of directors appear to have taken advantage.
CRODA CEO SELLS AFTER SHARES GAIN 20% SINCE APRIL
Steve Foots, chief executive of chemicals giant Croda, this week sold 27,243 shares for £50.12 each, netting a total of around £1.36m.
The disposal comes after Croda shares have bounced back from their lows from the end of March, rising back up to pre-coronavirus levels and nearing a 52-week high.
The company’s share price has risen roughly 20% since the start of April, strengthened by a trading update in which it said demand has remained solid throughout the coronavirus crisis, with core business sales and group profitability broadly in line with the board’s expectations for the quarter to 31 March.
As the second quarter got underway, Croda added that whilst conditions in some markets are more variable than usual, the value of its customer order book has remained solid and in line with normal circumstances, though it did warn that visibility on future sales is limited.
RENTOKIL HR BOSS OFFLOADS £578K STAKE
While at pest control and hygiene firm Rentokil Initial, human resources director Vanessa Evans, sold 115,890 shares at 499p each, worth a total of around £578,000.
The sale comes after general counsel and company secretary, Daragh Fagan, sold 50,000 shares for £238,502 at the start of May.
The company has been hit by the coronavirus pandemic, revealing in a first quarter trading update that revenues slowed from the HORECA (hotels, restaurants and catering) and offices sectors in particular.
The firm also foresees a bigger impact from the second quarter of this year, in which the bulk of the lockdown period has taken place.
But Rentokil has also retrained 7,000 staff in just over three weeks to be able to perform disinfection and deep cleaning services, so it can capitalise on stronger demand in areas like food retail.
For a full list of the week’s most significant trades, click here.