Vectura director exercises options after milestone payment

Shares of Cambridge-based Vectura rose after it confirmed the Japanese government has approved its Seebri inhalation capsules used in inhaler devices.The shares rose 2p to 86.5p, on news that government clearance will trigger a £2.5m milestone payment for Vectura from its partner Novartis.Whether by coincidence or not, Vectura director Dr Chris Blackwell chose this day to exercise options that entitled him to buy 277,776 ordinary shares at 48.125p a pop. The options were granted through Vectura's enterprise management incentive (EMI) scheme. Dr Blackwell and his spouse promptly offloaded 54,800 of these shares at 87p a throw, which the company said was to use up capital gains tax allowances.Dr Blackwell's beneficial holding in the company now stands at 0.64m shares, equivalent to 0.191% of the issued share capital.Top Director BuysTerrace Hill Group (THG) Director name: Mr Robert Fredrik Martin AdairAmount purchased: 450,000 @ 9.75p Value: £43,875Hiscox Ltd. (HSX) Director name: Ms Andrea RosenAmount purchased: 3,966 @ 482.15p Value: £19,122CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 2,632 @ 721.00p Value: £18,977Thor Mining (THR) Director name: Mr David Thomas Amount purchased: 1,000,000 @ 1.14p Value: £11,400Hiscox Ltd. (HSX) Director name: Mr Ernst JansenAmount purchased: 3,663 @ 482.15p Value: £17,661Manx Financial Group (MFX) Director name: Mr David GibsonAmount purchased: 250,000 @ 5.00p Value: £12,500Amphion Innovations (AMP) Director name: Mr Richard C E MorganAmount purchased: 375,000 @ 3.00p Value: £11,250Top Director SellsHambledon Mining (HMB) Director name: Mr Nicholas BridgenAmount sold: 88,448,936 @ 1.80p Value: £1,592,081Numis Corporation (NUM) Director name: Mr Oliver H J HemsleyAmount sold: 1,500,000 @ 99.00p Value: £1,485,000Aegis Group (AGS) Director name: Mr Nick PridayAmount sold: 130,457 @ 235.80p Value: £307,618Fuller Smith & Turner (FSTA) Director name: Mr M J TurnerAmount sold: 14,150 @ 712.00p Value: £100,748Vectura Group (VEC) Director name: Dr Chris BlackwellAmount sold: 54,800 @ 87.00p Value: £47,676Fuller Smith & Turner (FSTA) Director name: Mr Simon EmenyAmount sold: 3,505 @ 712.00p Value: £24,956Wetherspoon (J.D.) (JDW) Director name: Mr John HutsonAmount sold: 4,933 @ 474.00p Value: £23,382Wetherspoon (J.D.) (JDW) Director name: Mr Su CacioppoAmount sold: 4,185 @ 474.00p Value: £19,837JH