23rd Nov 2015 11:23
LONDON (Alliance News) - Glass fibre insulation manufacturer Superglass Holdings PLC on Monday said four of its directors bought a total of 958,000 shares in the company on Friday, all at 2.40 pence per share and all their first holdings in the company.
Chairman Mark Cubitt bought 250,000 shares, while Chief Executive Ken Munro bought 250,000. Cubitt replaced John Colley, who stepped down as chairman in June, when Munro also was promoted to CEO.
Finance Director Chris Lea bought 250,000 shares, and Mark Atherton, operations director for its Superglass Insultation Ltd trading subsidiary, bought 208,000 shares.
The shares purchases came a day after Superglass posted a widened loss for the year to the end of August, hit by impairment and goodwill charges and by investments the company has made to boost its production capacity.
Shares in Superglass were up 18% to 2.94 pence on Monday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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