The majority of director deals over the past week have involved significant share sales, the most interesting of which comes from online travel platform Trainline (TRN).
Chief financial officer Shaun McCabe sold 600,000 shares in the business at a price of 480p each, netting a total of £2.88 million.
The sale comes after a big rally in Trainline shares, which have jumped from 256.8p on 2 November to over 440p today as investors bet on a recovery in the travel sector with coronavirus vaccines now successfully developed and being distributed.
Trainline said in its half-year results published last month that it can navigate an extended downturn if necessary, but did warn that trading conditions remain challenging, with the re-tightening of Covid-19 restrictions and lockdown measures across its markets in recent weeks.
McCabe’s sale comes after outgoing chief executive Clare Gilmartin sold £3.2 million worth of shares, at a price of 400p each, in the lead up to her resignation.
SMALL CAP BOSSES SELL
Amid a £36 million fundraise at 90p per share, three senior managers at consumer products group Venture Life (VLG:AIM) have sold 8.2 million existing shares at the same price.
Co-founder and chief executive Jerry Randall sold 2.75 million shares in a deal worth £2.5 million, reducing his stake to 1.5% from 4.5%.
Chief manufacturing officer Gianluca Braguti offloaded £3.2 million worth and cut his stake to 2.8% from 8.4%, while chief commercial officer Sharon Collins reduced her stake to 0.8% from 2.4% after selling £1.7 million of shares.
Venture Life shares have soared year-to-date, up from around 29p at the start of the year after the AIM-listed firm behind the UltraDEX and Dentyl oral care ranges confirmed that Dentyl, its mouthwash containing the powerful CPC technology, was involved in a UK-led clinical trial on people with Covid-19.
It comes after the company reported huge growth in revenue and profit for the six months to 30 June.
Meanwhile Michael Scott, finance director of AIM-listed flooring company Victoria (VCP:AIM), sold over 176,000 shares at 605p each for a total of £1.06 million, in order to meet tax liabilities.
Victoria shares are also up significantly year-to-date, rising to 615p from 432.5p at the start of 2020. In early November, Victoria updated the market on the impact of England’s second lockdown and said based on its experience of lockdown earlier in the year, it believed the second lockdown would make ‘little material difference’ in the long run.