1st Feb 2016 17:22
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Monday.
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Grainger said new chief executive Helen Gordon bought her first shares in the residential property company on Monday.
Gordon marked her arrival at the FTSE 250 company by purchasing 53,786 shares at 232.4 pence each, which makes up her entire holding.
The new CEO was appointed in June last year and takes over from incumbent Andrew Cunningham, who is to retire at the annual general meeting on February 10.
Gordon moved from her role as the global head of real estate asset management at The Royal Bank of Scotland Group and is the former property director of Legal & General Investment Management, the investment arm of FTSE 100 insurer Legal & General Group.
Grainger on Monday said it has acquired the Clippers Quay property in Salford Quays, near Manchester, for GBP98.7 million to boost its private rented sector portfolio.
The company, which last week outlined plans to sell its non-core businesses and focus on the private rented sector, said the new property will deliver 600 new homes, along with further commercial space. Once fully let, it should deliver more than GBP7.5 million in gross rent per year, Grainger said.
Grainger will release a first quarter trading statement next Thursday.
The stock closed up 0.9% at 232.60p Monday
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AIM-listed Keras Resources said it has raised GBP563,889 before expenses through an unsecured loan note, in a move to provide it with the working capital needed to begin production at the Grants Patch Gold Tribute project.
Production at the project, which is 30 kilometres north of Kalgoorlie in the prospective Western Australian goldfields, is expected to begin in the second quarter of 2016.
Under the terms of the loan note, which includes an 8% redemption premium, a 10% coupon is payable upfront. In addition, the company will issue GBP1.0 worth of warrants to subscribe for new shares for every GBP1.0 nominal value of the note.
The warrants are exercisable at 0.5p per share and are valid for two years from the date of issue
Dave Reeves, managing director of Keras, and Peter Hepburn-Brown, non-executive director, are subscribing for GBP194,444.50 and GBP50,000 nominal value notes respectively.
Shares in Keras closed up 23% at 0.617p Monday.
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Learning Technologies Group said Chief Executive Jonathan Satchell sold around 1.8 million shares at a 33.00p each on Friday due to demand from institutional investors. Following this sale, Satchell holds 105.3 million shares, which represents a 25.3% stake. "The purpose of the sale was to satisfy demand from institutional investors and the company can confirm that he has no intention of selling any further shares for at least six months," Learning Technologies said in a statement. Shares in the e-learning software company closed down 1.5% at 34.00p Monday.
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7digital Group said Non-Executive Director Paul McGowan bought 250,000 shares at 13.25p per share on Friday. The purchase is McGowan's only holding since joining the board in January. Shares in the digital music and radio services company closed up 15% at 15.30p Monday.
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TyraTech said Chairman Alan Reade bought 250,000 shares at 2.699p per share on Monday. Following the transaction, Reade now holds 14 million shares, equivalent to a 3.83% stake in the life sciences company. TyraTech said Monday it expects to report a net loss in line with expectations for 2015, and "marginally" lower revenue than expected. The maker of head lice treatment Vamousse attributed the revenue miss to "difficulties in budgeting the timing of revenues arising from the on-boarding process of multiple new retailers." Shares closed down 5.5% at 2.60p Monday.
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Avon Rubber said Chief Executive Rob Rennie bought 10,000 shares at 778p each Monday. The purchase makes up his entire holding after taking up the role in December. The stock closed down 3.1% at 775.00p Monday.
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Northgate said Chairman Andrew Page bought 5,000 shares at 332.10p each on Monday. Page now holds 10,000 shares in the vehicle hire business. The stock closed down 2.0% at 327.20p Monday.
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McKay Securities said Non-Executive Director Richard Grainger bought 10,000 shares at 254.5p each on Monday. The purchase is his entire holding in the property investment company. The stock closed flat at 250.00p Monday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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