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Asian Citrus non-exec squeezes the funds to buy shares

Tue, 28th Feb 2012 16:00

A non-Executive Director of Asian Citrus, an AIM-100 Chinese orange grower, has bought 256,000 shares for himself and his wife.

Peregrine Moncreiffe and his wife, Miranda Moncreiffe, purchased the shares at an average price of 37.95p each for a total of ?97,152.

Winterthur Pension Management, in which Moncreiffe has an interest, also purchased 268,560 at 37.55p for a total of ?100,844.

Following the transactions, Moncreiffe, Mrs Moncreiffe and Winterthur now hold 1,078,000 shares, 128,000 shares and 268,560 shares, respectively.

The purchase came just a week after the firm hit back at what it claims is an inaccurate article in a Hong Kong magazine renowned for its investigations into alleged fraudulent activities by listed Chinese companies.

Hong Kong-based Next magazine has cast doubts on the accuracy of Asian Citrus's claims viz land ownership, fruit production and the value of its plantations, prompting a detailed rebuttal from the AIM-listed orchard owner.

The farming group maintained that it "has very efficient and comprehensive internal control systems to measure and audit its plantations' production and corresponding revenue," and thus stands by the figures shown in its company reports.

The share price fell 1.65% to 37.25p on the day of the purchase, having lost 50% over the last year.

Top Director Buys

Asian Citrus Holding (ACHL)

Director name: Hon Peregrine D E M Moncreiffe

Amount purchased: 268,560 @ 37.55p

Value: ?100,844

Asian Citrus Holding (ACHL)

Director name: Hon Peregrine D E M Moncreiffe

Amount purchased: 256,000 @ 37.95p

Value: ?97,152

Baronsmead VCT (BDV)

Director name: Mr Godfrey F Jillings

Amount purchased: 92,554 @ 77.90p

Value: ?72,100

Grainger (GRI)

Director name: Mr Mark Greenwood

Amount purchased: 34,104 @ 110.42p

Value: ?37,658

Wilmington Group (WIL)

Director name: Mr Neil Smith

Amount purchased: 33,300 @ 89.00p

Value: ?29,637

Baronsmead VCT 3 (BMD)

Director name: Mr Anthony Townsend

Amount purchased: 19,198 @ 107.30p

Value: ?20,599

Baronsmead VCT 2 (BVT)

Director name: Ms Christina McComb

Amount purchased: 20,315 @ 101.40p

Value: ?20,599

Baronsmead VCT 4 (BNS)

Director name: Mr Alan Pedder

Amount purchased: 20,517 @ 100.40p

Value: ?20,599

eXpansys (XPS)

Director name: Mr Chris Ogle

Amount purchased: 550,000 @ 1.92p

Value: ?10,560

Baronsmead VCT (BDV)

Director name: Mr Peter Lawrence

Amount purchased: 13,222 @ 77.90p

Value: ?10,300

Top Director Sells

Discovery Metals Ltd. (CDI) (DME)

Director name: Mr Stuart Bradley (Brad) Sampson

Amount sold: 500,000 @ 105.34p

Value: ?526,700

Discovery Metals Ltd. (CDI) (DME)

Director name: Mr Gordon Galt

Amount sold: 275,000 @ 105.34p

Value: ?289,685

Discovery Metals Ltd. (CDI) (DME)

Director name: Mr John Thomas Shaw

Amount sold: 250,000 @ 105.34p

Value: ?263,350

Related Shares:
Wilmington (WIL)Baronsmead VCT 4 (BNS)Asian Citrus Holding (ACHL)eXpansys (XPS)Discovery Metals Ltd. (CDI) (DME)

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