22nd Apr 2016 16:18
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.
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N Brown said Chief Executive Officer Angela Spindler bought shares in the online and catalogue fashion retailer in the wake of issuing a profit warning.
Spindler bought 18,000 shares at a price of 270.9 pence per share on Friday, taking her shareholding to 93,295 shares.
On Wednesday, N Brown reported a fall in profit in its recently-ended financial year due to exceptional costs it booked, but revenue was boosted by a continued strong performance from its three 'power brands'.
N Brown said its pretax profit in the year ended February 27 fell to GBP72.2 million from GBP78.3 million the year before due to GBP17.2 million in exceptional costs it booked in the first half of the year relating to the closure of its clearance stores, reorganisation costs and VAT-related legal and professional fees.
"Looking forward, whilst we face challenging market conditions for the fashion sector overall, and trading since the year end has been subdued, we remain confident in our ability to make further progress this year," Spindler had said Wednesday.
The stock closed down 0.1% at 268.67p Friday.
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Numis Securities said Acromas Bid Co has sold its entire 32% stake in Saga, which sells products such as insurance and holidays for people over 50 years old, through a placing to institutional investors.
Numis said the 352.7 million shares were placed at a price of 195.00 pence per share, giving the shareholding being sold a value of GBP687.7 million. The shares were placed at a discount to the closing price of the shares on Thursday, which was 201.40p.
Following the placing, which is expected to be settled on April 26, Acromas will no longer hold any stake in Saga.
Acromas is owned by Charterhouse Capital Partners, CVC Capital Partners and Permira, the private equity firms which were behind floating Saga on the London Stock Exchange in May 2014.
The shares were offered through an accelerated bookbuild, with the books opening late on Thursday. Numis acted as the sole bookrunner.
Numis said Non-Executive Chairman Andrew Goodsell agreed to purchase 2.6 million of the shares placed by Acromas.
The stock closed down 3.1% at 195.20p Friday.
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Furniture and homewares retailer Dunelm Group said Chief Financial Officer Keith Down bought 3,246 shares at 915 pence per share Thursday. Following this transaction, Down holds 8,511 shares. The stock closed up 0.5% at 906.38p Friday.
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Evraz said Vice President of Corporate Strategy & Performance Management Alexander Kuznetsov sold 100,000 shares at 147 pence per share Thursday. His total shareholding afterwards was undisclosed. The steel and mining stock closed down 2.1% at 140.40p Friday.
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Jupiter European Opportunities Trust said Non-Executive Director Norman Lamont bought 2,190 shares at a price of 539 pence per share Friday. Following this transaction, Lamont now holds 12,680 shares, which represents 0.01% stake in the trust. Lamont is the former Conservative Party Member of Parliament for Kingston Upon Thames. He most famously served as Chancellor of the Exchequer from 1990 to 1993 under then Prime Minister John Major. Lamont was made a life peer as Baron Lamont of Lerwick in 1998. The stock closed down 0.7% at 533.00p Friday.
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TyraTech said Non-Executive Director Jim Hills bought a total of 400,000 shares. Hills purchased a total of 100,000 shares at a price of 4.5 pence per share and 50,000 shares at a price of 4.25 pence per share on Thursday. The company said Hills also bought 250,000 shares at 5.0p on April 15. Following the purchases, Hills now holds 2.5 million shares, which equals a 0.69% stake in the life sciences technology company. The stock closed up 6.1% at 3.98p Friday.
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Greatland Gold said it has raised GBP460,000 through the placing of 245.3 million shares at 0.1875 pence each. The precious and base metals exploration and development business said Non-Executive Director Paul Johnson will subscribe for 13.3 million of the shares for GBP25,000. Following this, Johnson will be interested in 77.7 million shares representing 5.2% of the company's issued share capital. In addition, Greatland has issued 245.3 million warrants to subscribe for shares at an exercise price of 0.375p each, within a 24-month exercise period, to potentially raise a further GBP920,000. The proceeds of the placing will be used for working capital purposes and to facilitate strategic project developments. Shares in Greatland closed up 6.7% at 0.240 pence on Friday.
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BrainJuicer Group said Chief Executive Officer John Kearon sold 500,000 shares at a price of 332.5 pence per share on Thursday. The deal is worth about GBP1.7 million gross. Following the sale, Kearon, which the firm calls its 'chief juicer', now holds 3.4 million shares, which represents 27.34% stake in the market research agency. BrainJuicer also said it purchased 422,762 shares into treasury, pursuant to a share buy-back programme at the same price. The company now holds 932,030 shares in treasury, and its total number of shares with voting rights has declined to 12.3 million shares. The stock closed down 1.8% at 326.50p Friday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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