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GAME Chairman sells £2.28m of stock

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GAME Chairman sells £2.28m of stock

Peter Lewis sheds 850,000 shares in thriving retailer

The non-executive chairman of specialist UK retailer GAME has sold 850,000 ordinary shares in the firm – making himself a total of £2.28 million.

Lewis sold the stock at an average price of 269.23 pence per share. He continues to hold 66,666 ordinary shares in the company.

Lewis’ decision comes three months after GAME CEO Lisa Morgan and deputy CEO David Thomas sold over £5 million-worth of shares between them.

The GAME Group reported record profits of £75.5 million on Tuesday.

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That's nice for you

posted by May 02, 2008 at 8:32 pm
1

£75.5 million profit..........and my bonus was a joke.
Glad you are all getting rich, how about passing it on to the staff that slave all week with little praise and constant pressure and stress

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Big profit?!

posted by May 02, 2008 at 11:47 pm
2

So Game have made £75 million.

So what?!

They have over 800 stores! Broken down thats less than £90k per store.

Game have just announced record profits, yet its still only £90k per shop. No wonder the Chairmen has sold his shares, what chance have Game of ever paying of their debts.

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Re: Big profit?!

posted by May 03, 2008 at 4:30 pm
3

True ^^

I don't blame him. Might as well make a quick buck whilst he can, i mean sell some shares whilst the companies riding the crest of a wave (Post xmas, Gamestation acquisition, PS3 slowly starting to actually sell, GTA4 sales etc.), before the gaming sector gets hit by the economic slow-down that is already crawling its way across the rest of the sector. Smart cookie. To coin a really annoying American phrase "Don't hate the player, hate the game." LOL.

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Re: Big profit?!

posted by Mr Wise May 05, 2008 at 3:47 pm
4
Mr Wise

They will go bust. If it wasnt for Nintendo they would allready be dead. Thats why there all selling up.

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Re: Big profit?!

posted by rh May 05, 2008 at 4:31 pm
5
rh

Um somehow i don't think GAME are going to go bust, Nintendo don't just distribute to GAME they distribute to all the retailers and besides if there was no Nintendo ther'd probs be sum ovr console out. He just wants to sell his shares becoz well he wants money like all of us :) lol

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Re: Big profit?!

posted by ex employee May 06, 2008 at 4:44 pm
6
ex employee

I sympathise with 1, it never filters down to the staff on the ground but thats probably why their profits keep rising :(

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Re: Big profit?!

posted by BigN May 06, 2008 at 8:40 pm
7
BigN

Maybe the staff and managers should be paid in line with the rest of retail? I left them a few months ago, money was a joke.

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