Markets generally appear to have been somewhat quieter over the past week and the same goes for director dealing, with a lower than normal number of noteworthy trades.

But there have been some interesting transactions, one of which involves Michael Dobson, the outgoing chairman and former chief executive of FTSE 100 fund manager Schroders (SDR).

Dobson sold over 17,000 shares at a price of £35.80 each in a deal totaling around £611,000. The transaction is Dobson’s fifth over the past month, and second highest value sale after offloading £890,000 worth of shares at the end of May.

He was chief executive at Schroders for 16 years – the average FTSE 100 chief executive lasts around five years in the top job – before becoming chairman in 2016.

REDROW CHAIR BUYS IN

New non-executive chairman of housebuilder Redrow (RDW), Richard Akers, has bought 30,000 shares in the business at a price of 679p each in a deal worth over £200,000.

Akers took up the role at the start of June, and has spent the past nine years on the board of rival housebuilder Barratt Developments (BDEV) after retiring from developer Land Securities (LAND), where he was a main board director until 2014 and oversaw its retail portfolio.

Akers replaces John Tutte, who this year decided to retire having been in the position since April 2019 following the retirement of founder Steve Morgan.

OTHER DEALS

Samuel Higginson, marketing director at AIM-listed virtual reality entertainment firm Immotion (IMMO:AIM), has sold five million shares in the business at 5p each in a deal worth £250,000 in total, reducing his stake reduced from 4.3% to 3.1%.

Barry Olliff, founder of specialist asset manager City of London Investment Group (CLIG), has sold 43,000 shares at 540p each in a deal worth £232,000. Olliff now has 1.2 million shares, representing a 2.4% stake.

Paul Quirk, non-executive director and co-founder of gold explorer Cora Gold (CORA:AIM), has bought 1.82 million shares in the business at a price of 8p each in a deal worth £141,000, which comes amid a higher gold price environment.

For a full list of the week’s most significant trades, click here.

Find out how to deal online from £1.50 in a SIPP, ISA or Dealing account.

Issue Date: 10 Jun 2021