Jones' directors sell shares

Several directors of the Jones Group sold shares under the company's share buy-back scheme yesterday.

Among the beneficiaries is the company secretary, Mr Michael Cunningham, who sold 15,771 shares as part of the scheme - at a price of 235p - for £37,061.

The chairman of the group, Mr Eugene Greene, sold 27,977 shares for £65,745 while his wife, Ms Jean Greene (not a director), sold 37,086 for £87,152.

Director, Mr James McLoughlin disposed of 32,532 for £76,450 while the chief executive, Mr Patrick Nevin, received £178,158 for 75,812 shares.

Another director, Mr Dermot Hussey, sold 71,419 shares for £167,834. Jonestaff Society Ltd sold 645,210 for £1.5 million and Swiss engineering company, the Zehnder Group, the largest single shareholder in Jones, received £3.8 million for 1.6 million shares.

Jones is buying back 60 per cent of its share capital as part of which it will return £18.3 million to shareholders.