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Director dealings: Serco's Soames offloads £3m of his shareholding

(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

Top Director Buys

Lbg Media (LBG) Director name: Solomou,Alexander William Amount purchased: 900,000 @ 51.00p Value: £458,999.99

Brooks Macdonald Group (BRK) Director name: Thorpe,Ben Amount purchased: 14,290 @ 1,805.30p Value: £257,977.36

Smiths Group (SMIN) Director name: Howes,Richard Amount purchased: 3,102 @ 1,599.50p Value: £49,616.34

Robert Walters (RWA) Director name: Van de Walle,Leslie Amount purchased: 8,000 @ 530.40p Value: £42,432.00

Weir Group (WEIR) Director name: Jeremiah ,Barbara Amount purchased: 2,000 @ 1,737.32p Value: £34,746.40

Bankers Inv Trust (BNKR) Director name: Miller,Simon Edward Callum Amount purchased: 20,000 @ 98.00p Value: £19,600.00

Oracle Power (ORCP) Director name: Memon,Naheed Amount purchased: 405,296 @ 0.30p Value: £1,215.89

Oracle Power (ORCP) Director name: Migge,Andreas Amount purchased: 81,059 @ 0.30p Value: £243.18

Nexus Infrastructure (NEXS) Director name: Martin,Alan Amount purchased: 151 @ 132.98p Value: £200.80

Oracle Power (ORCP) Director name: Hutchins ,David (Sam) Amount purchased: 61,605 @ 0.30p Value: £184.82

Avon Protection (AVON) Director name: Ingrey-Counter,Miles Amount purchased: 14 @ 1,095.00p Value: £153.30

Imi (IMI) Director name: Twite,Roy Amount purchased: 11 @ 1,348.00p Value: £148.28

Softcat (SCT) Director name: Charlton,Graham Amount purchased: 12 @ 1,213.00p Value: £145.56

Softcat (SCT) Director name: Watt,Graeme Amount purchased: 12 @ 1,213.00p Value: £145.56

Oracle Power (ORCP) Director name: Steed,Mark Amount purchased: 46,204 @ 0.30p Value: £138.61

Imi (IMI) Director name: Shook ,Daniel Amount purchased: 9 @ 1,348.00p Value: £121.32

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

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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