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888 director sells majority of stake despite strong 2012 results
14-03-2013 16:31
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John Anderson, an independent non-Executive Director of 888, the online casino and online poker firm, has sold 697,500 pounds-worth of shares in the company the same day the group unveiled a special dividend following a strong full year performance.
The director, who was previously the Chief Executive Officer of the group, traded in 450,000 shares at 155p each, significantly reducing his stake to just 138,869 shares.
The group announced Wednesday that it had increased revenues for the year ended December 31st to $376m from $331m the previous year.
A final dividend of 4.5 cents per ordinary share per the group's payout ratio has been reinstated and due to strong performance the board has recommended an additional one-off dividend of 2.0 cents per share, bringing the total dividend per share for the year to 9.0 cents per share.
The group said current trading has continued to be strong in the new fiscal year across all key performance indicators including new customer recruitment, deposits and bets.
Average daily revenue during the quarter until March 9th was up 8.0% from the same period last year, led by Casino and Poker. Bingo trading conditions continue to be challenging as are the current currency headwinds.
Top Director Buys
Intu Properties (INTU)
Director name: Mr John Whittaker
Amount purchased: 90,000 @ 331.10p
Value: £297,990
Witan Inv Trust (WTAN)
Director name: Mr Andrew Bell
Amount purchased: 10,000 @ 594.50p
Value: £59,450
Volex (VLX)
Director name: Mr Ray Walsh
Amount purchased: 32,286 @ 97.00p
Value: £31,317
Top Director Sells
888 Holdings (888)
Director name: Mr John Anderson
Amount sold: 450,000 @ 155.00p
Value: £697,500
Morgan Crucible Co (MGCR)
Director name: Mr Paul Boulton
Amount sold: 11,000 @ 295.60p
Value: £32,516
Croda International (CRDA)
Director name: Mr Keith Layden
Amount sold: 400 @ 2,684.54p
Value: £10,738
NR
The director, who was previously the Chief Executive Officer of the group, traded in 450,000 shares at 155p each, significantly reducing his stake to just 138,869 shares.
The group announced Wednesday that it had increased revenues for the year ended December 31st to $376m from $331m the previous year.
A final dividend of 4.5 cents per ordinary share per the group's payout ratio has been reinstated and due to strong performance the board has recommended an additional one-off dividend of 2.0 cents per share, bringing the total dividend per share for the year to 9.0 cents per share.
The group said current trading has continued to be strong in the new fiscal year across all key performance indicators including new customer recruitment, deposits and bets.
Average daily revenue during the quarter until March 9th was up 8.0% from the same period last year, led by Casino and Poker. Bingo trading conditions continue to be challenging as are the current currency headwinds.
Top Director Buys
Intu Properties (INTU)
Director name: Mr John Whittaker
Amount purchased: 90,000 @ 331.10p
Value: £297,990
Witan Inv Trust (WTAN)
Director name: Mr Andrew Bell
Amount purchased: 10,000 @ 594.50p
Value: £59,450
Volex (VLX)
Director name: Mr Ray Walsh
Amount purchased: 32,286 @ 97.00p
Value: £31,317
Top Director Sells
888 Holdings (888)
Director name: Mr John Anderson
Amount sold: 450,000 @ 155.00p
Value: £697,500
Morgan Crucible Co (MGCR)
Director name: Mr Paul Boulton
Amount sold: 11,000 @ 295.60p
Value: £32,516
Croda International (CRDA)
Director name: Mr Keith Layden
Amount sold: 400 @ 2,684.54p
Value: £10,738
NR
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