1st Jul 2015 15:28
LONDON (Alliance News) - Speedy Hire PLC said Chairman Jan Åstrand bought 150,000 shares at a price of GBP0.4750 per share Wednesday.
Following this transaction, Åstrand holds 350,000 shares.
The company also said newly appointed Chief Executive Officer Russell Down bought 80,000 shares at GBP0.4790 each which constitutes his only holding.
Earlier Wednesday, Speedy Hire was dealt a triple blow after it said its results for the full year will not meet expectations, that talks about selling its oil and gas assets have fallen through, and that its Chief Executive Mark Rogerson has retired from his role with immediate effect. Speedy Hire said current Finance Director Down assumed the role of CEO.
The equipment and tool hire company said results for the full year will be "materially below" expectations and down year-on-year, after it had a "slower than expected start" to the year due to end March 31, 2016.
The stock was trading down 31% at 49.00 pence Wednesday, the worst performer in the FTSE All-Share.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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