IN BRIEF: Watches of Switzerland senior team buy following Rolex scare
Watches of Switzerland Group PLC - Leicester, England-based watch seller - Chief financial officer, board chair, and two non-executive directors buy nearly GBP900,000 in stock on Friday last week, after its price took a hit from the acquisition of a rival retailer by key supplier Rolex SA. CFO Anders Romberg buys 100,000 shares at GBP5.85, worth GBP584,700. Chair Ian Carter buys 35,000 shares at prices from 582.50 pence to 589.50p, worth GBP205,690 in total. Non-executive directors Tea Colaianni and Robert Moorhead buy 8,500 and 8,495 shares respectively, at GBP5.86 and GBP5.84. Watches of Switzerland shares dropped more than 20% late last month after Rolex announced it had bought Bucherer SA. However, Watches of Switzerland said it was reassured by Rolex their relationship remained unchanged, and the opportunistic acquisition of a partner for the past 100 years didn't represent a broader move into retail by the high-end Swiss watchmaker. Read More