24th Dec 2015 13:32
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Thursday and late Wednesday.
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Tribal Group said Jonathan Baldwin, managing director of market development at the company, bought 20,675 shares at 24 pence each Wednesday. This is Baldwin's first share purchase, and he now holds a less than 1.0% stake in the company.
On Monday, Tribal revealed that it has agreed with its banks to waive the testing of its financial covenants for 2015, which will allow it to remain in compliance with the terms of its debt facilities. This will in turn allow it to progress with its proposed rights issue in the first quarter of 2016.
This bank agreement followed news earlier this month that Tribal is planning a GBP30.0 million rights issue to help cut its debt and provide working capital, as it warned its adjusted operating profit for the year will likely be "significantly lower" than previously expected as a result of delays in contract milestones and slow sales momentum.
At that time Tribal had warned its lenders it may breach the covenants of its revolving credit facility, under which it can borrow up to GBP50 million.
Tribal shares closed down 4.1% at 23.50p Thursday.
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Regeneration and strategic land company MJ Gleeson PLC on Thursday said one of its directors sold shares in the company on Wednesday.
Harwood Capital LLP, to which Director Christopher Mills is a beneficiary, sold 19,500 shares at an average of 540.9338p per share. The sale leaves Mills with a total beneficial holding of 11.4 million shares, or a 21% stake in the company.
Earlier this month the company had said that both housebuilding and strategic land businesses are performing ahead of expectations so far in its financial year. Its Gleeson Homes unit completed 314 sales in the five months to the end of November, up from 259 for the equivalent period a year earlier, driven by the popularity of the UK government's Help to Buy mortgage guarantee scheme.
Shares in MJ Gleeson closed down 1.3% at 528.00p Thursday.
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Toys, games and giftware company Character Group PLC on Thursday said Non-Executive Director David Harris acquired shares in the business on Wednesday.
Harris bought 1,703 shares at 468.99p per share, taking his total holding to 48,403 shares. Character closed down 1.6% at 460.00p Thursday.
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HydroDec Group on Thursday said Chairman Colin Moynihan bought shares in the company on Wednesday. Moynihan bought 296,296 shares in the company at 3.375p per share, taking his total holding up to 10.9 million shares, or a 1.5% stake. Shares in the oil re-refining technology company closed up 1.9% at 3.44p Thursday.
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Aberdeen Asian Income Fund said Chairman Peter Arthur bought 326 shares at 152.933p Tuesday. Following this sale Arthur has an interest in 47,375 shares, or a less than 1.0% stake in the company. Shares in Aberdeen Asian closed up 0.8% at 156.26p Thursday.
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CPPGroup said independent non-executive director Ruth Evans bought 208,571 shares in the company at 11.9p each.
This is Evans only interest in the company, and amounts to a less than 1.0% stake. Shares in CPPGroup closed down 7.6% at 12.01p Thursday.
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Mortgage Advice Bureau Holdings said three non-executive directors bought share in the company at 365p each Thursday. Non-executive Chairman Katherine Innes Ker bought 876 shares, taking her interest in the company to 11,400 shares, whilst Nathan Imlach and Richard Verdin bought 364 shares and 316 shares respectively. This takes Imlach and Verdin's total interest in the company to 17,562 shares and 13,687 shares.
All three have a less than 1.0% stake in the company. Shares in Mortgage Advice Bureau closed up 4.3% at 365.00p Thursday afternoon.
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Costain Group said Non-Executive Chairman David Allvey bought 5,725 shares in the company at 373.31p per share Thursday. Alison Allvey, a connected person of the non-executive chairman, bought 1,700 shares in the company at 376.95p per share, also on Thursday. Shares in Costain were down 1.8% at 370.00p Thursday afternoon.
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By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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