9th Jun 2016 11:23
LONDON (Alliance News) - Croma Security Solutions Group PLC Thursday said three of its board members bought 44,250 shares after the security and surveillance company said Wednesday it had mistakenly overstated its 2015 profit.
Chief Executive Officer Roberto Fiorentino bought 25,000 shares at 37 pence each on Wednesday. The purchase increases his shareholding to 3.8 million shares.
Non-Executive Director Nicholas Hewson bought 13,750 shares at 38.1818 pence each. After the purchase he holds 203,565 shares.
Non-Executive Director James Percy bought 5,500 shares at 37.5 pence each on Thursday. The purchase takes his shareholding up to 285,000 shares.
Croma Security Solutions on Wednesday said an administrative error resulted in its profit for the 2015 financial year being overstated.
Croma said its pretax profit for the year to the end of June 2015 was overstated to the tune of GBP142,250 due to an administrative error which meant an intercompany charge was not eliminated from the figures. The same error means profit for the half to the end of December 2015 was overstated by GBP47,216.
Croma shares were untraded at 37.50p Thursday. They lost 15% on Wednesday following the company's announcement of the error.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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