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LONDON (Alliance News) - Avingtrans PLC said Chairman Roger McDowell bought 30,000 shares in the company at a price of 104.5 pence per share Wednesday.
Following this transaction, McDowell holds 2.4 million shares, which represents 8.7% stake in the firm.
Shares in the aerospace parts maker were trading 9.5% lower at 104.50p Wednesday.
Avingtrans earlier Wednesday confirmed a sharp drop in pretax profit and revenue for the first half of its financial year as its aerospace unit was hit by a large reduction in demand from a major customer and its energy and medical division was hit by the sliding oil price.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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