21st Sep 2015 13:44
LONDON (Alliance News) - Rotork PLC Monday said Chairman Martin Lamb bought 50,000 shares on Friday in a deal worth GBP93,921.
The shares were bought at around GBP1.87 each.
Following this transaction, Lamb holds 70,000 shares.
The company also said Non-Executive Director Gary Bullard bought on Friday a total of 10,000 shares at about the same price. He now holds 45,060 shares.
Last Thursday, shares in Rotork plummeted after it issued a profit warning saying tough trading conditions in the third quarter had resulted in project delays and cancellations which meant its profit for the full year will miss expectations.
This led to JPMorgan Cazenove and Exane BNP Paribas both lowering their target prices on the actuators and flow control products manufacturer on Monday, adding to the slew of ratings and price target downgrades at the end of last week
Shares in Rotork were down 7.3% at 173.00p Monday, one of the worst performers in the FTSE 250.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
Copyright 2015 Alliance News Limited. All Rights Reserved.
Related Shares:
Rotork