21st Jun 2016 16:35
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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Chemring Group said Non-Executive Director Daniel Dayan bought his first shares as the company reported a wider interim loss on Tuesday.
Dayan, who was appointed in March, bought 60,500 shares at 115 pence per share on Tuesday. The purchase is his only holding in the defence group.
The company, which makes countermeasures such as flares and decoys that military aircraft use against missile attack, as well as sensors and electronics used in military vehicles, said its pretax loss for the half to the end of April was GBP16.8 million, compared to a GBP15.1 million loss a year earlier.
Chemring said it now anticipates its annual results will be slightly below market expectations.
The tough conditions for the group also meant Chemring scrapped its interim dividend payout, having paid 2.4 pence per share a year earlier.
The stock closed down 18% at 115.00p Tuesday.
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Metro Bank said that Vernon Hill, its chairman and founder, increased his shareholding in the retail lender. Hill on Thursday last week bought 29,721 Metro Bank shares at 2,000 pence each, the company said in a statement, taking his total number of shares to 4.7 million.
That equates to a 5.91% stake in the bank. Metro Bank floated on the London Stock Exchange in March, when it raised GBP400 million at 2,000.00p per share. Shares in Metro Bank closed down 1.0% at 2,098.09p on Tuesday.
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WPP said Non-Executive Director Sally Susman bought 500 American Depositary Receipts at USD113.1728 each on Monday. The purchase is Susman's only holding in the advertising giant. One ADR equals five ordinary shares. The stock closed up 0.1% at 1,546.89p Tuesday.
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Wolseley said Non-Executive Director Pilar Lopez bought 600 shares at a price of 3,752.49p each on Tuesday. Lopez's total shareholding was undisclosed. Shares in the plumbing and heating products company closed up 0.1% at 3,780.17p Tuesday.
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Cobham said members of its board subscribed for shares as part of the FTSE 250 company's rights issue, completed on Friday.
Cobham last Friday said it had secured 100% take-up of its rights issue of shares after the underwriters managed to place all remaining shares via the rump placing.
Cobham makes satellite communications equipment, microelectronics products and air-to-air refuelling technology for the aviation, maritime, defence and space sectors. It first said it would raise funds in April in a bid to shore up its finances after it issued a profit warning for the year ahead.
It then detailed those plans in June, saying it would raise GBP506.7 million through a fully-underwritten, one-for-two rights issue. Cobham issued 569.3 million shares at 89.00 pence per share in the rights issue.
Chief Executive Officer Bob Murphy subscribed for 76,356 shares and Chairman John Devaney for 15,000 shares. Senior Independent Non-Executive Director Mike Wareing subscribed for 10,000 shares and Chief Financial Officer Simon Nicholls for 14,898 shares.
In addition, non-executive directors Michael Hagee, Alison Wood, Birgit Noergaard, Jonathan Flint and Alan Semple each subscribed for 2,500 shares.
The total shareholdings of the directors after the subscriptions were undisclosed.
Cobham shares closed down 1.5% at 146.51p Tuesday.
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Pennon Group said General Counsel Helen Barrett-Hague bought 1,783 shares at 832.50p per share Tuesday. The stock closed up 1.1% at 846.97p Tuesday.
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JD Wetherspoon said Chief Executive John Hutson sold 2,500 shares at 733.0p per share on Monday. Following the sale, Hutson holds 73,315 shares in the pub chain. The stock closed down 3.2% at 719.50p Tuesday.
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National Express Group said Non-Executive Director Ashley Steel bought 9,528 shares at 312.5p per share Tuesday. The purchase is Steel's only holding after being appointed in January. The stock closed down 0.9% at 311.68p Tuesday.
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Huntsworth said Chief Financial Officer Neil Jones bought 30,000 shares at 39.62p per share Monday. After the purchase, Jones holds 130,000 shares. The stock closed down 1.9% at 39.25p Tuesday.
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Greatland Gold said Non-Executive Director Paul Johnson bought 2.5 million shares at 0.277p each on Tuesday. Following the purchase, Johnson, together with his spouse, holds 89 million shares, equal to a 5.99% stake in the miner. The stock closed up 7.2% at 0.284p Tuesday.
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TP Group said Chief Executive Officer Phil Cartmell bought 424,000 shares at 3.375p per share on Monday. Following the purchase, Cartmell now holds 2.5 million shares, equal to 0.60% of the issued share capital. The company also said Chief Financial Officer Derren Stroud bought a total of 200,000 shares. He bought 93,220 shares at 3.85p each and 106,780 shares at 3.825p each Tuesday. Following these transactions, Stroud now has a total beneficial interest in 500,000 shares. In addition, Simon Kings, a director, bought 150,000 shares at 3.46p each on Monday. He now holds 1.2 million shares, equal to a 0.27% stake. Shares in the technology, engineering and managed solutions group closed up 7.4% at 3.62p Tuesday.
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UIL said Non-Executive Director David Shillson bought 8,500 shares at 117p each on Monday.After the purchase Shillson holds 15,833 shares. Earlier on Tuesday Non-Executive Director Christopher Samuel bought 20,000 shares at a price of 117p per share on Monday. The purchase is Samuel's only holding in UIL. The stock closed up 2.5% at 122.00p Tuesday.
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LXB Retail Properties said Non-Executive Director Steve Webb bought 75,661 shares at 66p per share on Monday. Following the purchase, Webb holds 319,046 shares, which equals a 0.19% stake. The stock closed flat at 66.75p Tuesday.
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Stilo International said Chairman David Ashman bought 200,000 shares at 5.85p per share on Tuesday. Following the purchase, Ashman holds 20.9 million shares, or 18.59% of the text conversion software company. The stock closed down 0.4% at 5.85p Tuesday.
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Imperial Innovations Group said David Newlands, who is set to become non-executive chairman, purchased 100,000 shares at 421.1p per share on Monday. The purchase is Newlands's only holding in the technology commercialisation and investment company. He will assume the role on August 1. The stock closed up 1.0% at 420.25p Tuesday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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Chemring