SENIOR directors at Standard Life yesterday snapped up some £300,000 worth of shares in the company.
Chairman Gerry Grimstone bought 40,400 shares worth £99,828, while Keith Skeoch, chief executive of Standard Life Investments, and finance director David Nish both acquired 41,537 shares – each paying out £100,000.
The share deals come shortly a
fter the company's financial results on Wednesday – which are preceded by a closed period when directors are not allowed to trade in the company's shares. Skeoch, chief executive Sandy Crombie and group operations director Marcia Campbell were also given shares as part of their remuneration packages.
Crombie, who on Wednesday cheered a 43 per cent rise in operating profit to £881 million, pocketed 458,715 shares as part of his pay-out, taking his total stake in Standard Life up to 0.036 per cent.
Skeoch gained an extra 80,653, taking his total holding up to 378,887, while Campbell took 48,694 – taking her holding to 84,981.
An industry insider said: "It seems like this is a vote of confidence and a sign that the directors still think there is a fair bit of value in the shares, given that they have decided to buy up more."
The full article contains 213 words and appears in The Scotsman newspaper.
