Director dealings: Incoming Rentokil chairman snaps up shares
Rentokil's chairman-designate Richard Solomon acquired 25,000 ordinary shares in the FTSE 100-listed outfit on Monday.
FTSE 100
8,040.38
16:34 24/04/24
FTSE 350
4,419.71
17:09 24/04/24
FTSE All-Share
4,374.06
16:44 24/04/24
Rentokil Initial
418.30p
16:40 24/04/24
Support Services
10,566.99
17:09 24/04/24
Solomons, who will take over from long-standing chairman John McAdam on 8 May, purchased the shares at an average price of 390p each, for a total value of £97,500.
Earlier in April, Rentokil reported a rise in first-quarter organic growth on 25 April, driven by its pest control business and acquisitions, as it said full-year results should be in line with market expectations
Ongoing revenue in the first quarter was up 8.9%, with 4% organic growth, up from 3.2% in the first quarter of 2018 and 3.7% for the full year, with 4.9% from acquisitions.
In the pest control division, ongoing revenue was 12% higher, or 5% stronger on an organic basis, with good performances across both growth and emerging markets, which rose 12.1% and 11.5%, respectively.
As of 1630 BST, Rentokil shares had dipped 0.51% to 387.73p.
Top Director Buys
Rentokil Initial (RTO)
Director name: Mr Richard Solomons
Amount purchased: 25,000 @ 390.00p
Value: £97,500
Top Director Sells
Midwich Group (MIDW)
Director name: Mr Stephen Fenby
Amount sold: 1,000,000 @ 625.00p
Value: £6,250,000
Ferrexpo (FXPO)
Director name: Mr Christopher Mawe
Amount sold: 150,000 @ 268.03p
Value: £402,045