2nd Jul 2015 16:07
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Thursday.
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Independent Oil and Gas said it has received binding commitments from both its chief executive and chief financial officer to subscribe to shares at 23.79 pence each.
Chief Executive Mark Routh and Chief Financial Officer Peter Young have committed to purchasing 105,087 shares each, for a total of 210,174 shares to generate just over GBP50,000 in proceeds.
That will "ensure Independent Oil has sufficient working capital to cover its activities to the end of July 2015 during which time it will continue to progress its long term financing discussions," it said.
The company did not state what stakes Routh and Young will hold following the subscription. According to Morningstar Company Intelligence, Young previously held a 19.82% stake in the company, while Routh held 6.21%.
Independent Oil shares closed down 18% at 13.65p per share Thursday.
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TLA Worldwide said Greg Genske, a director, sold 4 million shares at a price of 41 pence per share Thursday in a deal worth GBP1.6 million gross. Genske sold the shares in order to settle a tax liability relating to the consideration settled in shares by the company for the acquisition of LS Legacy Sports in December 2011. Following this transaction, Genske holds 4.1 million shares, which represents 2.98% of the company's total issued share capital.
The company also said Non-Executive Director Ian Robinson bought 40,000 shares at the same price. The shares are his only holding after being appointed in May. Shares in the athlete representation and sports marketing business closed up at 46p Thursday.
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Speedy Hire said Non-Executive Director James Morley bought 30,000 shares at a price of 51.99 pence per share Thursday. Following this transaction, Morley holds 195,000 shares. On Wednesday shares in equipment and tool hire company Speedy Hire fell through the floor, dropping 31% on the day, after the company issued a profit warning and parted ways with its chief executive. Both Speedy Hire's chairman and its newly appointed CEO, the former CFO, then stepped in to buy. Shares closed up 4.6% at 51.25p Thursday.
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KEFI Minerals said Managing Director Jeffery Rayner bought around 2.6 million shares over Monday, Tuesday and Wednesday at an average price of 0.843p. Following this transaction, Rayner now holds 14.6 million shares, which represents 0.84% stake in the firm. Shares in the gold exploration and development company closed down 5.9% at 0.800p Thursday.
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Altitude Group said Commercial Director and founder Martin Varley bought 200,000 shares at a price of 10 pence per share Wednesday. Following this transaction, Varley holds 12.1 million shares or 28.21% of the issued share capital. Altitude Group said in April said it expected to save GBP1.2 million in costs following a management shuffle and some restructuring of its operations, at the cost of GBP150,000. Varley stepped down as CEO on April 1, and was reappointed to the board as Commercial Director on April 28. Shares in the information and technology services provider closed up 15% at 10.90p Thursday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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Related Shares:
Altitude GroupKefi Gold & CopperIOG.LTLA.LSpeedy Hire