Esure Group Share News (ESUR)

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.
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CEB Resources said Chairman Cameron Pearce about halved his shareholding in the company, while Non-Executive Director Jeremy King sold most of his, together disposing of 20 million shares, a combined 7.6% stake.

In a statement, the AIM-listed energy investment company said Pearce sold 15.0 million shares at an average price of 0.815 pence each, leaving him with 15.2 million shares and 19.5 million options over shares. King sold 5.0 million shares at an average price of 0.83p per share, leaving him with 371,089 and 6.5 million options over shares.

The shares fell by 20% immediately following the announcement but recovered to close down just 1.8% at 0.800p Friday.

Last month, CEB Resources said it had "hit the ground running" in its search to securing oil and gas assets in Indonesia, and it had already identified multiple opportunities that meet its key criteria.

In June, the company had raised GBP1.5 million in a share placing and signed a deal with Corsair Petroleum (Singapore) Pte Ltd to undertake due diligence on an initial two oil and gas concessions in Indonesia, with a view to making an investment. The two companies have begun due diligence on various assets, and CEB Resources said work on six acquisition opportunities had taken place.

As part of the deal with Corsair, David Whitby, a partner at Corsair, was appointed as CEB's new chief executive.
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Insurer esure Group said Non-Executive Director Martin Pike bought 40,000 shares at a price of 235.5 pence per share. The purchase is his only holding having joined the company on Wednesday. Pike was appointed as the company's Chairman of the Remuneration Committee and also holds a non-executive position at Standard Life. The stock closed at 238.52p, up 1.5% Friday.
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Development Securities said Deputy Chief Executive Officer Richard Upton bought 7,508 shares at a price of 263 pence per share Thursday. Following this transaction, Upton now holds 2.8 million shares, which represents a 2.22% stake in the company. Shares in the property developer closed flat at 270.00p Friday.
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Workspace Group said Non-Executive Director Stephen Hubbard bought 8,150 shares at a price of 975 pence per share Friday. The purchase is his only holding. The stock closed at 977.95p, up 0.6% Friday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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