29th Sep 2015 16:07
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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The chief executive and finance director of wealth manager Brooks Macdonald Group sold a 4.8% stake in the company via an accelerated bookbuild, slightly more than the 4.2% the pair had been set to sell to institutional investors.
Chief Executive Chris Macdonald sold 610,000 shares in the offering, more than the 523,000 he was initially planning to sell, while Finance Director Simon Jackson sold 49,000 shares, in line with the earlier announcement.
The shares were sold at 1,700 pence per share, raising a total of GBP11.2 million for the pair, in a process run by Peel Hunt. Shares closed down 9.0% at 1,700.00p Tuesday.
Following the sale, Macdonald will have a 1.65% stake in the company, while Jackson will have a 0.29% stake. Macdonald was a founding director of Brooks Macdonald in 1991.
"I have every confidence in the future of the business and intend to retain a significant personal shareholding in the company. Nevertheless it is appropriate for me to diversify my personal financial risk profile having held a significant investment in the company since its formation," said Macdonald in a statement prior to the results of the placing being revealed.
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Vodafone Group said two of its CEO and CFO bought shares at 209.05 pence each on Monday as talks over a proposed merger with US cable company Liberty Global fell through after months of deliberating.
The company said Chief Executive Officer Vittorio Colao bought 260,000 shares and now holds 10.9 million shares. In addition Chief Financial Officer Nick Read bought 180,000 shares and has a resulting interest in 2 million shares. The two deals were worth GBP919,820.
Vodafone had confirmed talks with Liberty Global in early June over a potential exchange of some assets between the two. Earlier this month Bloomberg reported that Liberty Global's owner John Malone indicated that a deal between his company and Vodafone looked unlikely, saying that there had not yet been a structure proposed for a deal that he would take to his shareholders.
Shares in the mobile communications company closed down 1.4% at 204.35p Tuesday.
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IG Group Holdings said departing Chief Financial Officer Chris Hill sold 38,524 shares at a price of 779 pence per share on Monday. Following this transaction, Hill holds 48,395 shares. In August, investment supermarket Hargreaves Lansdown poached Hill to be its new chief financial officer, and he is expected to take up the role in March 2016. Hill was chief financial officer at IG over the past four years and also worked for foreign exchange provider Travelex and US conglomerate General Electric in the past. Shares in the spread betting and contracts-for-difference company closed down 1.9% at 761.50p Tuesday.
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Low-cost carrier easyJet said Chief Operations Officer Warwick Brady sold 17,500 shares at a price of GBP17.6773 per share Monday.The company will release its traffic figures for September on October 6. The stock closed down 0.9% at 1,754.63p Tuesday.
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Insurer Personal Group Holdings said the wife of Chief Financial Officer Mike Dugdale bought 2,910 shares at a price of 522.60 pence per share Tuesday. Following this transaction, Dugdale holds an interest in 16,620 shares, representing 0.055% of the issued share capital. Personal Group Holdings said Tuesday its pretax profit declined in the first half due to acquisition and restructuring costs, though revenue and new business generation both strengthened. The stock closed up 1.5% at 522.60p Tuesday.
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Flowgroup said Non-Executive Chairman Clare Spottiswoode bought 143,500 shares at a price of 10.6 pence per share on Monday. Following this transaction, Spottiswoode holds 752,287 ordinary shares comprising 0.237% of the issued share capital. Flowgroup on Monday reported a widened pretax loss for the first half of 2015, as the volume launch of its key Flow Boiler product was delayed due to a VAT ruling by the European Court of Justice, but the company said the relaunch of the product is expected in the first quarter of 2016. Shares in the energy technologies provider closed up 6.0% at 11.26p Tuesday.
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Horizonte Minerals said Chairman David Hall bought 274,047 shares at a price of 1.8245 pence per share Monday. Following this transaction, Hall holds 1 million shares, which represents 0.21 % stake in the firm. The company also said Non-Executive Director Owen Bavington bought 2 million shares at 2p each which is his only holding. Horizonte Minerals on Monday said it is set to develop one of the world's largest nickel projects after striking a deal to acquire FTSE 100-listed Glencore's Araguaia project in Brazil which will enlarge the company's existing nearby project. It is the latest move by Horizonte to enlarge its project area in the country, and it now holds 100% of the entire Araguaia nickel mining district following the deal. Shares in the nickel development company closed flat at 1.58p Tuesday.
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Polypipe Group said Glen Sabin, a senior manager, sold 168,518 shares together with his wife at a price of 352.63 pence per share last Thursday. Following this transaction, Sabin holds a beneficial interest in 1.1 million shares, which represents 0.57% stake in the firm. Shares in the plumbing parts company closed down 1.2% at 346.00p Tuesday.
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Arrow Global Group said Non-Executive Director Lan Tu bought 3,500 shares at a price of GBP2.8237 each Monday. The purchase is her only holding after joining Arrow in March. Shares in the debt portfolio buyer and manager closed down 1.9% at 277.50p Tuesday.
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RapidCloud International said Raymond Chee, founder of the company, purchased 35,000 shares at 33p each Tuesday. He is beneficially interested in a total of 6.7 million shares. The stock closed up 4.8% at 33.00p Tuesday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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Brooks Macdonald