15th May 2014 12:37
LONDON (Alliance News) - Bagir Group Ltd Thursday said non-executive Director Samuel Vlodinger bought 133,333 shares at a price of 22.5 pence per share.
Following this transaction, Vlodinger holds 8.9 million shares, which represents 17.66% stake in the firm.
The formal wear tailoring company which listed on AIM just last month, saw its valuation tumble by over half after warning that it had been hit by an unexpected reduction in orders from its largest customer and was talking with its lenders about getting a waiver on its banking covenants.
The company, which raised GBP20.0 million in its initial public offering on April 15, said it had experienced an unexpected reduction in the volume of purchase orders and a reduction in margins on retained revenue from its largest customer, mainly for the fourth quarter of year.
Shares were down 0.1% at 63.45 pence per share Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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