30th Oct 2015 12:41
LONDON (Alliance News) - Meggitt PLC Friday said a group of top executives acquired a total of 187,000 shares on Thursday in wake of the aerospace group's profit warning earlier this week.
Chairman Nigel Rudd bought 27,300 shares at a price of GBP3.4876 each.
The company also said Lesley Rudd, his wife, bought 29,700 shares at the same price.
Following this transaction, Nigel Rudd's holding increased to 97,000 shares or 0.013% of the issued share capital.
Chief Executive Officer Stephen Young bought 100,000 shares at 352.67p each and now holds 637,419 shares or, 0.082% of the issued share capital.
Chief Financial Officer Douglas Webb bought 30,000 shares at 352.67p each and now holds 78,240 shares or a 0.01% stake.
The aerospace and defence components manufacturer issued a profit warning on Wednesday after the group said trading in the third quarter of 2015 had been below its expectations, with little optimism for any relief in the fourth quarter.
The stock was up 0.9% at 350.26p on Friday, benefiting from an upgrade from JPMorgan Cazenove who raised Meggitt to Neutral from Underweight.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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