Dec 6, 2019
Dart chairman banks £14m
The share price has now almost doubled since the start of the year. It might alarm some to see executive chairman Philip Meeson reduce his stake in the leisure travel and logistics group following the latest results, offloading 1m shares in two tranches, banking more than £14m in the process. Mr Meeson periodically sells a chunk of his shares - he sold 700,000 in July this year and 500,000 12 months earlier - but he retains a stake of more than 54m shares in the group, equivalent to 36.29 per cent of its issued share capital. While investment in client meeting rooms and "Hot desks" kept gross margins flat at 27 per cent, statutory pre-tax profit rose by 12 per cent to £2.4m. Chief executive James Knight is Keystone's largest shareholder and recently divested 250,000 shares worth £1.25m. Since the group listed on Aim in 2017, Mr Knight has reduced his holding from 37.83 per cent to 34.2 per cent. Mr Knight has agreed not to sell any further shares until after the company's full-year results are published at the end of January.
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