9th Mar 2018 18:16
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.----------
Countrywide said that senior executives including chairman and finance head bought shares in the company following the release of annual results on Thursday.The company's Executive Chairman Peter Long bought 200,000 shares at
79.80 pence per share. Following the purchase, Long's interests in the company's shares is 571,429 shares.Himanshu Raja, the company's chief financial officer, purchased 100,000 shares at 88.05p. Raja now owns 322,841 shares.Countrywide's Operations Director Paul Creffield purchased 100,000 shares at 83.43p. He now owns 454,742 shares in total.The company yesterday swung to a pretax loss, suspended its dividend payout, and warned of further pain in the new year. In 2017, the estate agent sunk to a pretax loss of
GBP212.1 million from a
GBP19.5 million profit the year prior. Revenue also fell to
GBP661.1 million from
GBP724.0 million the year before.Profit performance was chiefly hurt by
GBP237.2 million in exceptional charges in 2017, compared to
GBP33.2 million in 2016. Shares in the company closed down 5.0% at 83.10p.----------
Independent Investment Trust said Chairman Douglas McDougall sold
GBP183,750 worth of shares in the company. McDougall sold 25,000 shares at 735.00p. He separately sold further 25,000 shares at 736.00p, worth
GBP184,000. McDougall's daughter also disposed 1,750 shares at the same price, totalling in
GBP12,880. McDougall's total shareholding, if any, was not disclosed by the company. The trust also said James Ferguson, a non-executive director and trustee of Horne Settlement Trust, sold 25,000 in two separate transactions. Ferguson sold 15,000 shares at 736p and 10,000 at 735p on Thursday. Shares in the investment trust closed down 0.3% at 730.00p. ----------
Focusrite said that Operations Director Tim Dingley sold 90,000 ordinary shares at 362.5p each. Dingley's total shareholding, if any, after the sale was not disclosed. Shares in the music and audio products company closed up 3.7% at 368.00p. ----------
Bgeo Group, formerly Bank of Georgia Holdings PLC, said that Chief Executive Officer Nikoloz Gamkrelidze sold shares in the company. In transaction on Tuesday, Gamkrelidze sold 8,400 shares at 3,428.00p per share, worth
GBP287,952. The company did not provide Gamkrelidze's holding, if any, following the transaction. Bgeo shares closed up 0.3% at 3,480.00p each. ----------Alcohol distributor
Conviviality said that Chief Financial Officer Mark Moran bought shares in the company. Moran purchased 120,000 shares at
109.00 pence per share, worth
GBP130,800. The company's Chief Executive Officer Diana Hunter bought 44,176 shares at
114.00 pence per share, worth
GBP50,361. Conviviality shares closed down 12% at 108.00p.----------
VPC Specialty Lending Investments said that a person closely associated with Non-Executive Director Richard Levy bought shares in transaction on Wednesday. The associate purchased 69,930 shares at
79.80 pence per share, worth
GBP55,804. VPC Specialty Lending Investments shares closed down 0.3% at 77.40p.----------
Koovs said that Non-Executive Director Nina Amin bought shares in wholesale company on Thursday. Amin purchased 200,000 shares at
6.45 pence per share, worth
GBP12,900. Koovs shares closed up 7.0% at 6.69p.----------The wife of
James Fisher & Sons Chairman Charles Rice sold shares worth
GBP50,406 in the energy industry services firm in a transaction on Thursday. Carol Rice - wife of Charles Rice - sold 3,100 shares at
1,626 pence each. The beneficial holding of Carol or Charles Rice after the transaction was not disclosed. In late February, James Fisher hiked its dividend 10% after 2017 revenue and profit both advanced 9%. Pretax profit expanded to
GBP49.0 million from
GBP44.9 million the year before whilst revenue grew to a record
GBP505.4 million from
GBP466.0 million. Shares in James Fisher closed 0.3% lower at 1,620.00p.----------
Secure Income REIT on Friday said it agreed to buy two off-market portfolios worth
GBP436.0 million, announcing a share placing and new debt facilities to pay for them alongside its annual results. The UK-based real estate investment trust said the purchase meets the company's investment criteria, having secure long-term inflation protected income. To part finance the acquisition, Secure Income intends to raise
GBP315.5 million through a placing of 86.4 million shares at
365.00 pence each. The share price is equal to the trust's net asset value at the December 31, adjusted for the dilution of the placing, it said. Secure Income said it expects the placing shares to start trading on AIM on March 29. Stifel is acting as sole bookrunner for the share placing. Secure Income said it has obtained credit approved terms for two new non-recourse debt facilities to fund the rest of the purchase. The trust expects the loan to total
GBP128.7 million. Secure Income REIT said it assumes a post-acquisition dividend to yield 4.3% on the placing price and NAV to increase to
GBP1.2 billion on a pro forma basis. The illustrative five-year compounded dividend growth rate of the enlarged group is expected to be 5.6% per annum. Secure Income REIT Chairman Martin Moore said: "We are pleased to announce the proposed purchase of two separate portfolios at a total cost of
GBP436 million, offering an attractive net initial yield of 6% and an average unexpired lease term of over 20 years with 86% of the income offering RPI protection plus a further 13% with fixed uplifts. The assets include Manchester Arena, the UK's largest indoor entertainment arena, 76 Travelodge hotels and the largest catered event space in the City of London at the Chiswell St Brewery. The board and management team are excited by the opportunities presented by the new transactions and intend to invest a further
GBP5.25 million cash in new shares to support this
GBP315.5 million placing." The company separately announced its annual results for 2017, which do not include any effect of the proposed acquisitions. Secure Income REIT said its EPRA net asset value per share rose 15% over 2017 to 370.40p per share on December 31 from 323.60p a year before, and its portfolio valuation increased 7.8% over the year to
GBP1.77 billion. Its portfolio was generating
GBP95.7 million of passing rent at year-end, up from
GBP92.6 million, and had a weighted avarage unexpired lease term of 22.2 years with no tenant breaks. Secure Income REIT's adjusted earnings per share grew 20% to 13.6p from 11.3p the prior year, which largely reflects the "positive" impact of the
GBP196 million Travelodge portfolio acquisition in 2016 and the increase in passing rents over the year. At the year-end, the company's portfolio comprised of 81 properties. Secure Income declared an annualised dividend of 14.00p per share for 2017, up 19% from 11.75p paid in 2016. "We are pleased to announce NAV per share growth of 14.5% for the year and a total shareholder return of 19%. Our portfolio of key operating assets in defensive sectors let to strong covenants on long leases provides income security whilst our upwards only RPI reviews and fixed rental uplifts generate both predictable and attractive levels of income growth," Moore added. Shares in the company closed up 0.3% at 371.00p.----------
Crystal Amber Fund said that investment manager Crystal Amber Asset Management (Guernsey) Ltd purchased 30,000 shares in the company at a a price of
190.00 pence per share on Wednesday, for a total of
GBP57,000. In addition, Juan Morera, equity analyst at investment adviser Crystal Amber Advisers (UK) LLP, sold the same amount of shares for the same price on the same day. Following these transactions, Crystal Amber Asset Management now holds 3.4 million shares, reflecting a 3.5% interest in the company, while Morera holds 20,643 shares, representing a 0.02% stake. Shares in the closed-end activist fund closed up 1.9% at 197.80----------
CLS Holdings said on Thursday Executive Chairman Henry Klotz sold 107,000 shares at a price of
244.21 pence per share to the Sten and Karin Mortstedt Family & Charity Trust, established by Executive Director Sten Mortstedt. Following the transaction on Thursday, Klotz now holds 450,630 shares in total, reflecting a 0.11% interest, while Mortstedt now holds 207.8 million shares, representing a 51.02% stake. Shares in the FTSE 250-listed property investment company closed down 1.0% at 234.50p.----------
Rentokil Initial said that Chief Executive Officer Andy Ransom purchased 100,000 shares at a price of
261.5 pence per share on Thursday, for a total of
GBP261,500. It has not been disclosed how many shares Ransom now holds in total. Shares in the FTSE 100-listed pest control company closed up 3.1% at 272.40p.----------
Picton Property Income said that Finance Director Andrew Dewhirst purchased 4,500 shares at a price of
86.44 pence per share. Following this transaction, Dewhirst now holds a total of 28,500 shares, reflecting a 0.00528% interest in the company. Shares in the property investment company closed up 0.7% at 86.90p.----------
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