4th Nov 2015 17:23
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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A slew of directors at Hochschild Mining bought shares in the company following its heavily-discounted rights issue. The group raised GBP64.8 million in order to provide it with "financial flexibility going forward" and said at least half of the proceeds will be used to pay down debt.
The shares were issued at 47.00 pence per share, a 48% discount on the closing price of the shares prior to the announcement of the rights issue in October. Hochschild Mining shares closed Wednesday up 2.1% at 74.50p.
Founder and Chairman Eduardo Hochschild acquired 74.7 million of the shares available to push his total holding up to 274.1 million shares, meaning he owns about 54% of the enlarged share capital of the business.
Deputy Chairman Roberto Danino upped his stake by acquiring 75,000 shares to take his total holding to 275,000 shares and Chief Executive Ignacio Bustamante acquired 45,466 shares to take his total holding to 166,700 shares.
Graham Birch bought 3,750 shares to take his holding to 13,750 shares, Nigel Moore purchased 18,750 shares to take his holding to 68,750 shares and Malcolm Field upped his holding by 5,356 shares to 19,641 shares. They are all non-executive directors of the company.
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Jardine Lloyd Thompson Group said Chief Executive Dominic Burke has bought 30,000 shares in the company. Burke bought the shares for 889.6126 pence per share and they will be held jointly with other trustees of the Dominic Burke Pension Fund, JLT Pension Trustees Ltd. Following the purchase, Burke's beneficial interest in JLT shares is 295,513 shares. JLT, which provides insurance, reinsurance and employee benefits related advice, cut its 2015 profit expectations on Tuesday due to a hit from stronger sterling and a disappointing recent performance in its employee benefits business. Shares closed down 2.5% at 866.00p Wednesday.
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Lombard Risk Management said Non-Executive Director Steve Rogers bought 125,000 shares in the company on Tuesday. Rogers bought the shares for 9.30 pence per share, and the acquisition brings his total shareholding to 344,984 shares, or around 0.1% of its issued share capital. Lombard shares closed up 3.4% at 10.60p Wednesday.
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Recruitment company Michael Page International said Patrick Hollard, its executive director for Latin America, Africa and the Middle East, sold shares in the company on Monday. Hollard sold 48,690 shares in the company at 492.801 pence per share. Michael Page shares closed up 0.6% to 500.00p on Wednesday.
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Michael Buckley, the executive chairman of Gaming Realms, upped his stake in the online gaming company with the purchase of an additional 1.0 million shares for GBP250,000. Buckley now owns about 8.43% of Gaming Realms through 21.0 million shares, the company said in a statement.
His purchases, which were made an average of 25 pence each over Tuesday and Wednesday, come just over two weeks after Gaming Realms said its revenue was in line with market expectations for 2015. Shares in Gaming Realms closed flat at 24.75 pence on Wednesday.
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By Sam Unsted; [email protected]; @SamUAtAlliance
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