Ultra boss sells

Ultra Electronics chief executive Douglas Caster has generated £5.85m from the sale of just over two-fifths of his shareholding in the defence electronics supplier. He states in the announcement that the sale was for "family and tax planning reasons". Caster has also transferred his remaining 635,555 shares into the name of his wife Elizabeth Caster. Caster started his career at Racal Electronics and he has subsequently worked for Schlumberger and Dowty. He joined Dowty in 1988 and became managing director of its sonar and communications systems business in 1992. He was involved the management buyout that formed Ultra in 1993 and became chief executive in April 2005. Chairman, and former chief executive, Julian Blogh will retire in April 2011 and Caster will also retire as chief executive and take over as chairman. Rakesh Sharma becomes chief operating officer at the beginning of 2010. Ultra's interim management statement in November said that revenue continues to grow. The order book covers 60% of expected revenues for the next 12 months. Top Director BuysMitie Group (MTO) Director name: Mr Roger MatthewsAmount purchased: 40,000 @ 232.91p Value: £93,164Murray International Trust (MYI) Director name: Mr James Douglas BestAmount purchased: 5,300 @ 772.50p Value: £40,942Severfield-Rowen (SFR) Director name: Mr Toby HaywardAmount purchased: 20,000 @ 180.00p Value: £36,000Aberdeen Asset Management (ADN) Director name: Mr Simon Troughton Amount purchased: 20,000 @ 140.29p Value: £28,058Dialight (DIA) Director name: Mr Richard StuckesAmount purchased: 10,440 @ 193.00p Value: £20,149Westhouse Holdings (WHL) Director name: Mr Andrew BeesonAmount purchased: 33,000 @ 61.00p Value: £20,130BSS Group (BTSM) Director name: Mr Roddy MurrayAmount purchased: 7,500 @ 250.20p Value: £18,765Tristel (TSTL) Director name: Mr Paul Christopher SwinneyAmount purchased: 26,000 @ 59.50p Value: £15,470Tristel (TSTL) Director name: Mr Bruce GreenAmount purchased: 26,000 @ 59.50p Value: £15,470Silverdell (SID) Director name: Mr Sean NutleyAmount purchased: 127,000 @ 11.75p Value: £14,922Top Director SellsUltra Electronics Holdings (ULE) Director name: Mr Douglas CasterAmount sold: 450,000 @ 1,300.00p Value: £5,850,000Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L KeswickAmount sold: 48,800 @ $29.98 Value: $1,462,951