Director dealings: Motorpoint co-founder offloads shares

Motorpoint Group revealed on Friday that and non-executive director David Shelton had disposed of 11.0m ordinary shares in the London-listed car dealer.

Shelton, who co-founded the group back in 1998, sold the shares via Shoby Investments Partnership at an average price of 200.0p each, for a total value of £22.0m.

Following the sale, Shelton still held an interest in a total of 2.39m shares in the company, representing 2.64% of its ordinary shares in issue.

Separately, Motorpoint announced that it has agreed to buy 2.6m placing shares from Shelton and his associates at 200.0p each. This represents an interest of about 23%

As of 1640 BST, Motorpoint shares had slumped 12.50% to 210.0p.

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Rolls-royce Holdings (RR.)
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Top Director Sells

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Director name: Shelton,David
Amount sold: 11,000,000 @ 200.00p
Value: £22,000,000.00

Ab Dynamics (ABDP)
Director name: Neads,Stephen
Amount sold: 10,000 @ 2,765.00p
Value: £276,500.00

Intertek Group (ITRK)
Director name: McCluskey,Ross
Amount sold: 1,508 @ n/a
Value: n/a