LONDON (Alliance News) - The following is a summary of director dealings reported in London on Monday.
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7digital Group said Co-Founder and Chief Strategy Officer Ben Drury sold shares and will transition to a non-executive position to pursue other opportunities from next year.
Drury sold 2 million shares at a price of 10p per share on Friday. Following this transaction, he holds 10 million shares, which equals a 9.3% stake.
The deal was worth GBP200,000 before expenses.
The company said the sale was part of a planned disposal process the proceeds of which Drury will use to settle certain tax obligations and for house renovation expenses.
In addition, 7digital said Drury will be transitioning from his role as an executive to a non-executive position from January 1 2016. This is in order to allow him to "pursue other non-competitive business opportunities".
Drury remains committed to 7digital and has no intention of selling further shares, the company added. He co-founded the digital music and radio services platform in 2004 with James Kane.
Meanwhile, 7digital on Friday said it has signed a deal to become a music streaming services supplier to Electric Jukebox Co.
The stock closed down 2.4% at 10.00p Monday.
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Savannah Resources said it has raised GBP339,060 after issuing shares to a new investor.
The company issued under 17.0 million new shares at a price of 2.0 pence per share to Al Marjan Ltd, giving it a 6.0% stake in the company.
"We are delighted to see very solid support for Savannah's investment case with the placing to a new significant shareholder," said Chief Executive David Archer.
On October 7, Savannah raised GBP225,000 after issuing 13.3 million shares at a 1.7p to three of its existing shareholders. Archer said the proceeds from both placings has put the company in an "excellent position to continue its exciting business plan".
In addition, Chairman Matthew King has elected to take part of his remuneration through 833,333 shares at 2.0p. However, 205,495 of those shares will be sold to cover the related tax liabilities, leaving a balance of 627,838 shares. Following that, King will hold a 0.24% stake in the company.
Of the total shares that need to be issued, the first 8.9 million shares will be issued to settle the first tranche of shares to Al Marjan and to settle the transaction with King, with the remainder of shares being issued to Al Marjan once a general meeting has been held on November 5 for shareholders to approve the second tranche.
Savannah shares closed flat at 2.05p on Monday.
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Homewares retailer Dunelm Group said Non-Executive Chairman Andy Harrison bought 53,433 shares at a price of 928.8p per share Friday. The purchase is his only holding since joining the Dunelm board in September 2014. Harrison also is chief executive of Costa coffee parent company Whitbread PLC but will retire from that role in February 2016. The stock closed up 0.8% at 927.00p Monday.
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Software and services company Sopheon said Chairman Barry Mence bought 44,406 shares at 84.75p each on Friday. Following the transaction, Mence holds around 1.4 million shares. The company also said Non-Executive Director Bernard Al bought 5,594 shares at the same price. He now holds 100,000 shares. The stock closed up 1.9% at at 82.50p Monday.
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Exova Group said Philip Marshall, its new chief financial officer and an executive director, bought 35,000 shares at GBP1.629 each on Friday. The purchase is his only holding in the testing and inspection services company. Marshall was appointed CFO in September and will take up the role, replacing Anne Thorburn, on November 30. He is joining Exova from Wood Mackenzie, the oil and gas consultancy, where he was the chief financial officer until June this year. The stock closed down 0.6% at 160.25p Monday.
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Vela Technologies said Chairman Brent Fitzpatrick and Antony Laiker, an executive director, each acquired 2.9 million on Friday at a price of 0.17p per share. Following these purchases, Fitzpatrick, whose shares were purchased by his wholly-owned company, Ocean Park Developments Limited, now has a beneficial interest in 4.4 million shares, equivalent to 0.75% of the issued share capital. Laiker now has a beneficial interest in 28.3 million shares, equivalent to 4.85% of the company's issued share capital. On Friday, the technology investing company said its Revolve Performance Ltd portfolio company is trading in line with expectations, with weaker sales being offset by better margins. The stock closed down 2.8% at 0.175p Monday.
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Unilever said Elvira Lopez Veiga, a connected person to Chief Supply Chain Officer Pierluigi Sigismondi, sold 12,500 shares at a price of 2,900p per share Friday. The consumer goods giant also said Chief Research & Development Officer David Blanchard sold 3,532 American Depositary Receipts on Thursday at a price of USD44.6037 per share. The stock closed up 0.2% at 2,923.03p Monday.
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European Wealth Group said Non-Executive Director Kenneth West purchased 7,500 shares in European Wealth at 78.5 pence per share Friday. Following this transaction, West's total beneficial holding in the company is 326,306 ordinary shares, representing approximately 1.4% of the issued share capital. The stock closed up 1.2% at 85.00p Monday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2015 Alliance News Limited. All Rights Reserved.
28 Mar 2023 18:43
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