SamCam’s £400,000 windfall from Smythson sale: PM’s wife received more than £1,500 for each of her shares when luxury stationery company was sold in 2005

Smythson was bought in April 2005 by city figures for some £15.8million

Report says Mrs Cameron would have got £1,589 for each of her 275 shares

PM’s wife began working at Smythson as a window dresser in 1996

By the time of the 2005 sale, she had risen to creative director in company

Samantha Cameron received an estimated £400,000 windfall from the sale of the luxury stationery company where she works, it was claimed last night.

Smythson was bought in April 2005 by a group of prominent City figures for some £15.8million.
According to a report by The Guardian last night, Mrs Cameron would have received £1,589.20 for each of her 275 shares, giving her a lump sum windfall of £437,000 before tax as a result of the sale.

The company was acquired by a consortium of City grandees, including some who have donated to the Conservative Party.

At the time of the sale on April 30, 2005, Mr Cameron was the Tories’ head of policy coordination, a largely back office role.

He was appointed shadow education secretary six days later, in the wake of the Tories’ election defeat. Among those who were reportedly involved in the deal were Jonathan Green, the founder of the GLG hedge fund, Howard Shore, who set up the stockbroker group Shore Capital, and members of the Fleming banking family. All are Tory donors.
Last night a spokesman for Samantha Cameron said: ‘The sale of Smythson happened before the 2005 General Election, when Michael Howard was leader of the Conservative Party.

‘Samantha Cameron was not a board director and was not responsible for the sale. It would be entirely wrong to suggest any wrongdoing or attempts to obtain undue influence.’
Mrs Cameron began working at Smythson as a window dresser in 1996, the same year the couple married. By the time of the sale she was creative director.