John Menzies director cashes in on shares worth £2.2m

City Editor

Tuesday 18 September 2012

LONG-standing John Menzies director Dermot Jenkinson has cashed in on the company's recent share price rise by selling £2.2 million of shares.

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TIM SHARP CITY EDITOR

The share sale by Mr Jenkinson, one of the company's largest investors, comes two years after he netted £10m when Teleperformance of France bought beCogent, the Scottish call centre company he co-founded, for £35m in cash.

Mr Jenkinson is from Essex but has lived in Scotland for more than two decades after his father-in-law John Menzies asked him to serve on the board of the eponymous company.As an executive at John Menzies, Mr Jenkinson built the Early Learning Centre chain and negotiated and oversaw a UK distribution deal with Japanese technology giant Nintendo. He became a non-executive director in 1999.In recent years John Menzies has moved out of retailing to focus on magazine and newspaper distribution and baggage handling for airlines. Mr Jenkinson recently became a director of call centre company Transcom Worldwide.On September 12 and 14 Mr Jenkinson sold 250,000 shares at 630p each and another two batches of 50,000 shares each at 640p.John Menzies has seen a 14-fold rise in its share price since March 2009. In the past 12 months alone the company's value has risen 28%.Mr Jenkinson retains a beneficial interest of more than two million shares worth £12.8m.

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John Menzies director cashes in on shares worth £2.2m

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