MWG.L Share News (MWG)

Nick Robertson, the founder and chief executive of online fashion retailer ASOS, has raised just short of £15m from a share sale immediately after a first quarter trading update. Robertson sold just over 1.68m shares at 890p each. Prior to the start of the day that was near to the all-time high for the share price. Following the trading statement the share price increased to 948p. Robertson still owns 7.74m shares, equivalent to 10.32% of ASOS. These are worth more than £73m at the current share price. He also has 901,635 options in ASOS. Retail sales grew by 54% in the first quarter to June 2010. ASOS reported 58% growth in the first nine weeks of the period. Overall sales were 48% ahead. Gross margins continue to improve as promotional activity is at a lower level. There was a slowdown in the growth of UK sales. International sales continue to grow more than three times as fast as UK sales. A new US-focused website will be launched in the near future and that could help international growth to be even faster. KBC Peel Hunt maintains its profit forecast of £28.2m for the year to March 2011 which puts the shares on 37 times prospective earnings for this year. That does not leave any room for disappointment. Top Director BuysSynergy Healthcare (SYR) Director name: Mr Gavin HillAmount purchased: 7,900 @ 675.00p Value: £53,325Environmental Recycling Technologies (ENRT) Director name: Mr Ken BrooksAmount purchased: 3,128,523 @ 1.38p Value: £43,174United Utilities Group (UU.) Director name: Mr Tom KeevilAmount purchased: 6,832 @ 554.50p Value: £37,883Modern Water (MWG) Director name: Mr Robert Clarke Amount purchased: 50,000 @ 66.50p Value: £33,250Environmental Recycling Technologies (ENRT) Director name: Mr David Shepley-CuthbertAmount purchased: 2,173,900 @ 1.38p Value: £30,000Finsbury Worldwide Pharmaceutical Trust (FWP) Director name: Mr Martin SmithAmount purchased: 3,859 @ 644.00p Value: £24,852Manx Financial Group (MFX) Director name: Mr Arron A F BanksAmount purchased: 200,000 @ 12.00p Value: £24,000PayPoint (PAY) Director name: Mr Andrew M RobbAmount purchased: 5,000 @ 262.00p Value: £13,100Top Director SellsASOS (ASC) Director name: Mr Nicholas RobertsonAmount sold: 1,683,424 @ 890.00p Value: £14,982,474Synergy Healthcare (SYR) Director name: Mr Marcello SmitAmount sold: 6,681 @ 666.50p Value: £44,529Robert Wiseman (RWD) Director name: Mr Martyn MulcahyAmount sold: 2,500 @ 515.00p Value: £12,875Robert Wiseman (RWD) Director name: Mr Martyn MulcahyAmount sold: 2,500 @ 515.00p Value: £12,875