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(Sharecast News) - Outsourcing giant Serco disclosed a sale worth more than £3m on Wednesday, made by its outgoing chairman Rupert Soames.
The company said Soames sold 1,885,000 shares on Monday, in a single transaction on the London Stock Exchange.
He netted 162.07p for each share, valuing the sale at £3,053,490.99.
In its announcement of Soames' impending retirement on 12 September, Serco said the chairman would be reducing his holdings in the company as he prepared for retirement.
It further stated he would retain interests "well in excess" of that required by the directors remuneration policy for at least the next three years.
In its latest annual report, Serco said Rupert Soames had total share interests as at 31 December of 10,631,281 shares.
Elsewhere, Weir Group reported a share purchase made by its chair, valued at almost £35k.
The firm said Barbara Jeremiah bought 2,000 of its shares on Tuesday in a single open market transaction in London.
Jeremiah paid 1,737.32p for each share, giving the purchase a gross value of £34,746.40.
At 1455 GMT, shares in Serco Group were down 3.11% at 162.1p, while those in the Weir Group were off 0.75% at 1,731p.
Reporting by Josh White for Sharecast.com.
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Lbg Media (LBG)
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Top Director Sells
Serco Group (SRP)
Director name: Soames,Rupert
Amount sold: 1,885,000 @ 162.07p
Value: £3,055,019.50
Brooks Macdonald Group (BRK)
Director name: Thorpe,Ben
Amount sold: 14,290 @ 1,805.00p
Value: £257,934.49
Brooks Macdonald Group (BRK)
Director name: Thorpe,Ben
Amount sold: 2,531 @ 1,917.28p
Value: £48,526.41
