20th Apr 2018 12:49
LONDON (Alliance News) - Ultra Electronics Holdings PLC on Friday said its Chief Executive Designate took a stake in the company in a transaction on Thursday.
Simon Pryce bought 6,300 shares at a price of 1,273.77 each, for a total of GBP80,248.
Shares were up 3.7% on Friday at 1,372.00p, having been as low as 1,250.00p on Thursday.
Pryce's appointment as the FTSE 25-listed firm's new boss was announced in late March. He will join on June 18, having previously headed up aviation services firm BBA Aviation PLC for ten years to 2017.
Shares in Ultra Electronics slipped on Thursday as it said the UK Serious Fraud Office is to investigate its operations in Algeria.
The SFO has begun a criminal investigation into "suspected corruption" by Ultra in the north African country after a voluntary self-report, and the company said it is continuing to cooperate.
It is too early, Ultra said on Thursday, to assess the impact this may have on the company.
Related Shares:
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