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View the article online at http://citywire.co.uk/wealth-manager/article/a722680

Aberdeen's Gilbert sells £8.6 million stake in firm

by Elsa Buchanan on Dec 04, 2013 at 15:13

Aberdeen's Gilbert sells £8.6 million stake in firm

Aberdeen chief executive Martin Gilbert (pictured) has sold 1.78 million shares in the firm, worth £8.6 million.

The shares were sold in two tranches, the first in the name of Greenwood Nominees Limited at 484p per share and the second in the name of BDS Nominees Ltd at 483.9p.

The ordinary shares were awarded as part of the annual bonuses Gilbert received under the company's annual bonus scheme for 2007, 2008 and 2009.

Following these transactions, he continues to hold 3.8 million shares, equating to 0.3% of the free float.

This month, he was awarded a further 0.16% or 797,636 ordinary shares, exercisable in four equal tranches over the following four years, as part of the 2013 annual bonus programme. This award was calculated at a price of 487.5p per share.

Directors Andrew Laing, Rod MacRae, Bill Rattray, held 0.12%, 0.02% and 0.03% of the company respectively. Anne Richards and Hugh Young, diretors, hold a further 0.07% and 0.16%.

They all received an additional stake in the company as part of the annual bonus awards,

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