22nd Jun 2016 11:05
LONDON (Alliance News) - Chemring Group PLC Wednesday said Carl-Peter Forster bought his first shares in the countermeasures manufacturer on Tuesday since his appointment as chairman-designate.
Forster bought 20,000 shares at 118.69 pence each which is his only holding.
Forster joined the board in May and will take over from Peter Hickson, Chemring's current chairman, on July 1 when Hickson will retire from the role.
Forster is currently a non-executive director on the boards of can maker Rexam PLC and engineer IMI PLC.
The share purchase occurred as Chemring's posted a wider interim pretax loss on Tuesday due to contract delays and a weaker sales mix despite higher revenue.
The stock was up 4.1% at 120.00p Wednesday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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