30th Jul 2015 15:30
LONDON (Alliance News) - Xchanging PLC said Chief Financial Officer David Bauernfeind, along with his connected party, bought a total of 14,345 shares at an average price of 97.67p per share Thursday.
Following this transaction, Bauernfeind increased his interest to 781,906 shares, representing approximately 0.316% of Xchanging's issued share capital.
The company also said Catherine Wilson, a person connected to Non-Executive Director Stephen Wilson, bought 17,879 shares at 97.75p.
Xchanging earlier Thursday said that Chief Executive Ken Lever intends to retire at the end of 2015, prompting a hunt for a new boss, as the company swung to a pretax loss in the first half after taking a GBP47.0 million goodwill impairment charge in its procurement division.
In a statement, the business process services and technology company said the search for a successor is underway.
Xchanging said it made a GBP44.4 million pretax loss in the six months to the end of June, compared with a GBP22.2 million pretax profit in the corresponding half of the prior year.
The stock was trading 23% lower at 97.75p Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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