17th Nov 2015 17:05
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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Building products company SIG said its chairman and two non-executive directors bought shares in the company.
Chairman Leslie van de Walle bought 25,000 shares in the company at 126.48 pence per share, increasing his holding to 75,000 shares. Non-Executive Director Melvyn Ewell bought 7,850 shares at the same price, increasing his to 16,450 shares, and Non-Executive Director Janet Ashdown bought 11,750 shares, also at the same price, to increase hers to 33,450 shares.
All the transactions were carried out on Tuesday, a day after SIG affirmed its reduced guidance for 2015 as trading conditions improved in October. The company had issued a profit warning last month as it was hit by weak markets in Europe and by a slowdown in the UK repair, maintenance and improvement market.
Shares in SIG closed up 0.6% on Tuesday to 126.60p.
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Electricity producer Drax Group said Will Gardiner marked his first day as its new finance director by buying a stake in the company. Gardiner, who replaced Tony Quinlan, bought 21,168 shares in Drax on Monday at 233.7361 pence each. Drax has 406.3 million shares in issue.
The new finance boss was previously chief financial officer of semiconductor business CSR PLC, which was acquired by US-based Qualcomm Inc in August. Shares in Drax ended down 2.1% at 226.50 pence on Tuesday.
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Marshall Motor Holdings said two of its executives purchased shares in the company on Tuesday. Chief Executive Daksh Gupta bought 5,798 shares in the company at 175.00 pence per share, increasing his total holding to 693,510 shares. Chief Financial Officer Mark Raban also acquired shares, buying 5,798 at the same price in the name of his wife, Paula. His shareholding following the purchase is 39,355 shares.
On Tuesday, the automotive retail and leasing business said it had struck a GBP24.4 million cash deal to buy car dealer SG Smith Holdings, which has operations in Kent, Surrey and London. Shares in Marshall closed up 5.9% to 180.00p Tuesday.
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President Energy said Chairman Peter Levine has bought 140,000 shares in the company at 6.5 pence each through PLLG Investments, his second purchase in as many trading days. The shares were bought on Monday. The latest share purchase means that Levine owns 117.7 million shares in President Energy, equivalent to a 22.41% stake. News of Levine's latest share purchase follows from his acquisition of 306,649 shares in President Energy at 6.47p on Friday last week. Shares in the oil and gas company closed up 1.5% at 6.90p on Tuesday.
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Anglo-South African financial services company Old Mutual said Non-Executive Director Zoe Cruz bought shares in the group on Friday. Cruz bought 34,500 shares in the business at 191.2309 pence per share. The shares are her only holding. Shares in Old Mutual closed up 3.8% to 198.90p on Tuesday.
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Henderson International Income Trust said Non-Executive Director Simon Jeffreys has bought shares in the trust. Jeffreys bought 24,972 shares for 120.13 pence per share on Tuesday, increasing his total holding to 127,397 shares. Shares in the trust closed up 0.6% to 119.50p Tuesday.
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Rathbone Brothers said the spouse of Andrew Morris sold 5,000 shares at 2,232.5 pence Tuesday. Morris is head of investment management for Rathbone's investment management business in Aberdeen, Birmingham, Edinburgh, Kendal, Newcastle and Liverpool in the UK. Following this transaction Morris has an interest in 61,516 shares, or a less than 1.0% stake. Shares in Rathbone ended down 0.5% at 2,225.00 pence Tuesday.
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Nanoco Group said Chief Executive Officer Michael Edelman sold 1.36 million shares at an average price of 44.2 pence Tuesday. The company said the GBP601,120 share sale was to satisfy tax and other financial commitments associated with Edelman's relocation to the US. Back in May 2013, Edelman announced plans to relocated to the US to lead the company from Boston, in an effort to bring Nanoco close to its key US strategic partners and potential customers. Following the disposal Edelman has an interest in 5.4 million shares, representing a 2.29% stake in the company. Shares in Nanoco closed down 3.1% at 46.75 pence Tuesday.
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By Sam Unsted; [email protected]; @SamUAtAlliance
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