Hargreaves Lansdown Marketing Director reduces stake by 200,000 shares
By Natasha Roberts
Fri 26 Oct 2012
LONDON (SHARECAST) - In a deal announced after Thursday's close, Ian Hunter, the Investment Marketing Director of financial services provider Hargreaves Lansdown, has pocketed £1.51m after reducing his stake in the company by 200,000 shares.
Hunter, who has held a position of the board since 2009, traded in the shares at 754.75p each, with the transaction taking his stake to 556,916 shares.
In its annual financial report, published on Wednesday, the company said that it "remains confident" about the proposals that are currently in consultation ahead of phase two of the Retail Distribution Review, and believes it is in a position to "weather the change well".
The group revealed that it has held discussions with the Financial Services Authority (FSA) and says that these rules could come into force by the end of 2013.
Hargreaves believes that the extension of the RDR rules would most likely require the unbundling of pricing on investment products and has already undertaken a range of modelling and preparatory activities.
Earlier this month the company revealed that its revenue, assets under administration (AuA) and client numbers all hit record levels in the July-September quarter, which is traditionally the firm's quietest period of the financial year.
The group described the first quarter of its financial year as a "pleasing start" given challenging economic and market conditions for retail investors, and added that it has made an excellent start to the current quarter.
Top Director Buys
SThree (STHR)
Director name: Mr Gary Elden
Amount purchased: 157,343 @ 300.23p
Value: £472,391
ASOS (ASC)
Director name: Lord Waheed Alli
Amount purchased: 829,657 @ 12.67p
Value: £105,118
CLS Holdings (CLI)
Director name: Mr Sten A Mortstedt
Amount purchased: 2,998 @ 710.00p
Value: £21,286
Top Director Sells
ASOS (ASC)
Director name: Lord Waheed Alli
Amount sold: 779,657 @ 2,150.00p
Value: £16,762,626
ASOS (ASC)
Director name: Mr Nicholas Robertson
Amount sold: 744,792 @ 2,150.00p
Value: £16,013,028
ASOS (ASC)
Director name: Mr Nick Beighton
Amount sold: 365,094 @ 2,150.00p
Value: £7,849,521
ASOS (ASC)
Director name: Mr Jonathan Damian Kamaluddin
Amount sold: 305,217 @ 2,150.00p
Value: £6,562,166
ASOS (ASC)
Director name: Mr Peter Williams
Amount sold: 80,000 @ 2,154.70p
Value: £1,723,760
Alliance Pharma (APH)
Director name: Mr Tony Booley
Amount sold: 800,000 @ 30.50p
Value: £244,000
LONDON (SHARECAST) - In a deal announced after Thursday's close, Ian Hunter, the Investment Marketing Director of financial services provider Hargreaves Lansdown, has pocketed £1.51m after reducing his stake in the company by 200,000 shares.
