10th Feb 2016 17:44
LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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Tullow Oil said a non-executive board member bought shares as the oil company reported a pretax loss and decline in revenue on Wednesday.
The company said Jeremy Wilson bought 30,000 shares at a GBP1.4547 each on Wednesday, taking his holding to 45,000 shares.
Earlier Wednesday, Tullow Oil reported a narrower pretax loss in 2015 despite reporting a steep drop in revenue due to the fall in oil prices, as the company said it remains focused on reducing costs and getting the TEN development in Ghana producing. Tullow had already guided last month that its earnings would be considerably lower year-on-year after lower oil prices hampered results, as a fall in net production from Europe offset a rise from its flagship operations in West Africa.
The oil company reported a USD1.29 billion pretax loss from continuing activities in 2015 compared to a USD2.04 billion loss in 2014. Tullow stuck to its guidance to have a USD1.10 billion capital expenditure budget in 2016, but said this could fall to USD900.0 million. Importantly, with TEN almost finished, the company believes capital expenditure could be as low as USD300.0 million per year from 2017 onwards.
The stock closed down 8.5% at 147.70p Wednesday, the worst performer in the FTSE 250.
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Redrow on Wednesday said Non-Executive Director Michael Lyons bought his first shares in the housebuilder.
Lyons, the former chairman of the BBC Trust, bought 3,000 shares at 397.76p each on Tuesday, having been on the Redrow board for a little over a year.
Lyons also is chairman of the English Cities Fund created by the UK government to promote sustainable urban regeneration. Lyons had a long career in local government with the Labour Party and completed a four-year term as chairman of the BBC in 2011.
Redrow on Tuesday declared a doubled interim dividend as it reported a 14% increase in first-half pretax profit, bolstered by the completion of almost 2,200 new homes in the period, 18% higher than last year. The company raised its interim dividend to 4.0 pence per share from 2.0p and said it intends to lift its final dividend to 6.0p from 4.0p, making 10.0p for the full year, up from 6p.
The stock closed up 6.5% at 430.30p.
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Northgate said Non-Executive Director Jill Casebury bought 5,000 shares at a price of 329.11p per share on Tuesday. The purchase is Casebury's only holding. Shares in the vehicle hire company closed up 0.7% at 328.00p Wednesday.
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Technology company Cohort said Non-Executive Director Robert Walmsley bought 4,965 shares at 332p per share on Tuesday. Following the purchase, Walmsley's holds 30,000 shares, representing a 0.07% stake. The stock closed down 2.1% at 320.60p Wednesday.
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Newly listed CYBG said Products Director Fergus Murphy bought 141,333 shares at 204p each and 85 shares at 204.982p each on Monday. The purchases are his only holding in the lender. CYBG, the owner of the Clydesdale and Yorkshire retail banks in the UK, saw its shares begin unconditional dealings on Monday, having IPO at 180.00p. The stock closed down 2.8% at 188.50p Wednesday.
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Brewin Dolphin Holdings said Chairman Simon Miller bought 10,000 shares at 254.9p each on Wednesday. Following this purchase, Miller holds 75,000 shares in the investment manager. The stock closed up 1.7% at 251.70p Wednesday.
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QinetiQ Group said Non-Executive Director Susan Searle bought 7,500 shares at 224.399p each on Wednesday. The stock closed up 0.6% at 224.88p Wednesday.
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Blue Capital Global Reinsurance Fund said Chairman John Weale bought 30,000 shares at USD1.03 each on Tuesday. The purchase is his only holding. The stock closed up 1.0% at USD0.995 Wednesday.
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By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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Related Shares:
Tullow Oil