Trilogy's Buglass takes advantage of near-record price to sell shares

Tuesday 29th March 2016

Trilogy International chief executive Angela Buglass has sold 100,000 shares after the first tranche of 400,000 options vested, taking advantage of a stock price that soared 284 percent in the past year and reached a record this month.

Buglass sold shares this month at prices ranging from $3.30 to $3.47, for a total of $344,763, according to a disclosure notice from the Auckland-based skincare and home fragrance company. She was issued with 400,000 options at an exercise price of 60 cents apiece in March 2015 which vest over four years. They were among 1.17 million unlisted share options approved a year ago

Trilogy shares last traded at $3.46 and reached a record $3.52 this month. She follows chairman Geoff Ross, who sold 158,750 shares this month for $525,463.

Ross has an interest in about 30.3 million shares in Trilogy as one of the owners of The Business Bakery, the company's largest shareholder with a 48.7 percent stake. Trilogy has a policy of allowing directors to accept shares in lieu of fees.

Buglass took over the reins as chief executive in July last year, replacing the Business Bakery's Stephen Sinclair. She had previously been Trilogy's head of natural products.

The company this month raised its guidance for full-year sales and pretax earnings to more than $83 million and $13 million respectively, partly on the contribution from New Zealand cosmetics and fragrance distribution business, CS Company, acquired last August.

Trilogy last year agreed to buy privately held CS Company, New Zealand's largest independent importer and distributor of fragrances, cosmetics and toiletries, for $37 million plus any earn-out payments. The purchase was debt funded. It added to assets including the Trilogy, Ecoya and Goodness brands.

(BusinessDesk)

BusinessDesk.co.nz

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