(Alliance News) - Bermele PLC on Tuesday said that a non-executive director purchased 1.8 million shares in the company over two transactions.
On Monday, Anthony Reeves bought 50,000 shares at 1.5 pence each, GBP750 in total. Following this, he purchased 1.75 million shares at 1.25p apiece, GBP21,875 altogether.
The transactions totalled GBP22,625 and Reeves now has a 0.9% holding in Bermele. He held no shares in the company prior to the purchase.
Bermele was formed specifically to acquire a firm in the biotechnology, life sciences or pharmaceutical sectors. In August, the company said no opportunities reviewed to date "would generate significant returns for shareholders".
Shares in Bermele were 13% lower at 1.30p in London on Tuesday afternoon.