30th Oct 2015 17:01
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.
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Meggitt Friday said a group of top executives acquired a total of 187,000 shares on Thursday in wake of the aerospace group's profit warning earlier this week.
Chairman Nigel Rudd bought 27,300 shares at a price of GBP3.4876 each.
The company also said Lesley Rudd, his wife, bought 29,700 shares at the same price.
Following this transaction, Nigel Rudd's holding increased to 97,000 shares or 0.013% of the issued share capital.
Chief Executive Officer Stephen Young bought 100,000 shares at 352.67p each and now holds 637,419 shares or, 0.082% of the issued share capital.
Chief Financial Officer Douglas Webb bought 30,000 shares at 352.67p each and now holds 78,240 shares or a 0.01% stake.
The aerospace and defence components manufacturer issued a profit warning on Wednesday after the group said trading in the third quarter of 2015 had been below its expectations, with little optimism for any relief in the fourth quarter.
The stock closed up 1.7% at 353.08p on Friday, benefiting from an upgrade from JPMorgan Cazenove who raised Meggitt to Neutral from Underweight.
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Footwear retailer Shoe Zone said the Smith brothers, Anthony and Charles, sold a combined total of GBP4.7 million in shares in the business on Thursday.
Chief Executive Officer Anthony Smith sold 1.4 million shares at a price of 190 pence per share Thursday. The deal is worth about GBP2.6 million before expenses.
Following this transaction, Anthony Smith now holds 13.9 million shares, which represents a 27.8% stake.
The company also said Chief Operating Officer Charles Smith sold 1.1 million shares at the same price on Thursday, valuing the deal at around GBP2.1 million gross. Following the sale, Charles Smith holds 11.1 million shares, or 22.2% of issues shares.
Anthony and Charles Smith are the sons of former Chairman Michael Smith, who co-founded Shoe Zone with his brother Christopher Smith in the 1980s. The company started trading on AIM in May last year.
Meanwhile, the wife of Chief Financial Officer Nick Davis purchased 15,700 shares at the same price on Thursday, which is his only holding.
Shoe Zone on Tuesday said pretax profit in its full financial year will be in line with expectations following good trading in the second half, although revenue will fall on the prior year.
The stock closed down 2.1% at 202.20p Friday.
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Landore Resources Friday said it has raised GBP656,820 through the placing of 109.5 million shares at 0.6 pence each.
The issue price represents a discount of 14.3% to the closing middle market price of 0.7 pence per share on October 29. Shares in Landore were untraded on Friday, last quoted at 0.680 pence.
The proceeds will be used to fund a 2,000 metre drill programme, to carry out metallurgical and geotechnical works and to provide general working capital.
Chief Executive William Humphries bought 10 million shares and now holds 49.9 million shares representing 8% of the company's issued share capital.
Finance Director Richard Prickett bought 1.7 million shares, taking his total holding to 10 million shares representing 1.6% of the company's issued share capital.
Non-Executive Director Helen Green purchased 500,000 shares, taking her holding to 1.0 million shares representing 0.2% of the company's issued share capital.
"We are very pleased with the strong support given by our shareholders with this fundraise, the proceeds of which will enable us to drill-test priority exploration targets and continue development studies on the B4-7 and VW deposits on our highly prospective Junior Lake Nickel property. Progress reports on the above programme, scheduled to commence on November 12, 2015, will be issued as results come to hand," Humphries said in a statement.
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Smith & Nephew said Non-Executive Director Robin Freestone bought 15,000 shares at a price of 1,101 pence per share on Friday. The purchase is Freestone's only holding after joining the board in September. Shares in the medical devices business closed up 0.2% at 1,097.92p Friday.
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Moneysupermarket.com Group said Chief Executive Officer Peter Plumb sold 400,000 shares at 330.30p each on Friday. Plumb now holds a beneficial interest in 895,142 shares. Shares in the price comparison website closed down 0.5% at 330.91p Friday.
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Lloyds Banking Group said Independent Director Alan Dickinson bought 50,000 shares at a price of 74.397 pence per share on Friday. Lloyds on Wednesday missed earnings forecasts as it posted a third-quarter profit and booked a new GBP500.0 million charge in relation to mis-sold insurance products. On Thursday, the UK government shrunk its stake in Lloyds below 10% to 9.89%. The stock closed down 1.2% at 73.31p on Friday.
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BT Group said Finance Director Tony Chanmugam sold 80,000 shares at a price of 470 pence per share on Friday. The deal is worth GBP376,000 gross. Following the sale, Chanmugam has a personal holding of 465,268 shares. BT shares closed down 1.0% at 465.00p Friday.
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Equiniti Group said Chief Executive Officer Guy Wakeley bought 63,291 shares at a price of 158 pence per share Thursday. Following this transaction, Wakeley holds 1.3 million shares.The company also said Non-Executive Director Tim Miller also bought 63,291 shares which is his only holding. Paul Matthews, a director, bought 15,822 shares and now holds 240,205 shares. All of which were bought at the same price.
Shares in the outsourcer started unconditional dealings in London on Friday, with the shares continuing to trade below their initial public offering price, which itself was at the low end of the company's hopes. Equiniti shares started conditional trading on Tuesday, after its IPO was priced at the low end of guidance at 165.00 pence per share, giving it a market capitalisation upon admission of GBP495.0 million. The company said it would target a market capitalisation of GBP495.0 million to GBP600.0 million when it outlined its float plans earlier in the month. The stock closed down 0.6% at 157.00p Friday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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