Springfield Properties Announces Director Shareholding Changes
Why we think this is neutral
The RNS announcement appears to be a routine regulatory update regarding director shareholding changes and an issue of equity. There is no indication of any material financial impact to the business, so the overall sentiment is neutral.
Key Points
- Certain employees, including CEO Innes Smith, exercised options over 138,693 ordinary shares
- Innes Smith sold 85,585 of the shares he acquired, retaining an interest in 996,374 shares (0.8% of issued capital)
Summary
The housebuilder has announced changes to director shareholdings, with the CEO exercising options and selling a portion of his shares.
Springfield Properties plc, a leading housebuilder in Scotland, has announced that certain employees, including the Chief Executive Officer Innes Smith, have exercised options over a total of 138,693 ordinary shares under the company's Performance Share Plan. Mr. Smith subsequently sold 85,585 of these shares. Following the transactions, Mr. Smith continues to hold an interest in 996,374 ordinary shares, representing 0.8% of the enlarged issued share capital.
DIRECTOR DEALINGS