17th Jun 2015 10:23
LONDON (Alliance News) - Flowgroup PLC said Chief Executive Officer Tony Stiff bought 110,742 shares at a price of 13.75 pence per share Wednesday.
Following this transaction, Stiff holds 2.3 million shares, which represents 0.726% of the issued share capital.
Flowgroup on Tuesday said it reduced the number of boiler installations it had planned for 2015 and said it would instead focus on its cost-reduction programme, after it was hit by a ruling by the European Court of Justice that a UK sales tax reduction on energy saving products breached EU laws. The company also warned that it will now taker longer than expected to become net cash flow generative and profitable.
The stock was trading at 13.88p, down 5.9% Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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