Pets at Home bosses in share sales to cover tax liabilities from most recent award
Three senior board members of Cheshire pets product group Pets at Home have sold shares worth more than a quarter of a million pounds.
The sales were to cover tax liabilities, the Handforth group announced today.
Each director received shares under the second tranche of the group’s restricted stock plan.
Chief executive Peter Pritchard, chief financial officer Mike Iddon, and chief people and culture officer Louise Stonier were the recipients of the new shares.
Peter Pritchard sold 23,715 out of a total of 49,793 shares received, to cover his tax liability, and retains 25,578 shares. The sale was worth £113,560.39p.
Mike Iddon sold 19,762 out of a total of 41,077 shares awarded to cover his tax liability and retains 21,315 shares. The sale was worth £94,454.12p.
Louise Stonier sold 14,246 out of a total of 29,612 shares awarded to cover her tax liability and retains 15,366 ahares. The sale was worth £68,599.52p.
The disposals took place on July 29, the same day the group published a trading update that showed it had enjoyed a 25.7% increase in first quarter total group revenues of £377.8m.
It said that, based on trading year to date, it now anticipates that its full year group underlying pre-tax profit will be £130m, at the top end of the current range of analyst expectations, representing a £42.5m (+49%) increase on the prior year.
Peter Pritchard said, on the day: “Our unique, omnichannel pet care strategy continues to deliver, with strong momentum across both sides of our business, as well as good progress against our strategic priorities, meaning we look to the future with much confidence.”