Gear4music Share News (G4M)

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Wednesday.
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Gear4music (Holdings) said a vehicle connected to Non-Executive Director Peter Armitage sold about GBP3.7 million worth of stock in the online musical instruments and equipment retailer.

Key Capital Partners sold 1.8 million shares at 210 pence each on Monday.

After the sale KCP's interest in Gear4music is now in 3.1 million shares, representing approximately 15.2% of the issued share capital.

The stock closed down 3.2% at 230.00p Wednesday.
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Applegreen said an entity directly controlled by its chief executive officer and chief operating officer plans has sold a 7.5% stake in the company via a placing.

The Irish petrol forecourt retailer said that B&J Holdings, which is controlled by CEO Bob Etchingham and COO Joe Barrett, placed 6 million shares at EUR4.50 or 383 pence per share in a placing, equivalent to a 7.5% stake.

Applegreen said the placing was as a result of strong investor demand, and is intended to increase liquidity in the company's shares.

The sale is worth about GBP23.0 million.

Following the sale, B&J retains 48.1 million shares in the company, or a 60% stake.

Shares in Applegreen closed down 4.3% at 390.00 pence Wednesday.
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Modern Water said General Counsel & Company Secretary Toby Schumacher bought 100,000 shares at a price of 5.25 pence per share Wednesday.

Modern Water on Wednesday said a reduction in costs help to offset a fall in revenue during the first half of 2016 after its water monitoring division suffered from weak markets in China, which it is expecting to improve later this year.

The company owns technologies for water and wastewater treatment. Modern Water reorganised itself to save GBP600,000 of costs per year and its cash burn has halved to GBP1.1 million in the first half from GBP2.2 million last year. Group overheads were also reduced by 18% to GBP2.2 million from GBP2.6 million.

That helped to offset a decline in revenue in the half to GBP1.1 million from GBP1.6 million with the gross profit declining to GBP582,000 from GBP677,000. The reduction in costs, however, allowed the operating loss to narrow to GBP1.6 million from GBP2.0 million.

The pretax loss in the half totalled GBP1.7 million compared to the GBP2.2 million loss last year.

The stock closed down 18% at 5.10p Wednesday.
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Fidessa Group said Luisella Barrow, a connected person to Global Head of Sales Steve Barrow, sold 8,529 shares at an average price of 2,500.30 pence per share on Tuesday. Luisella Barrow also sold 20,000 shares at a price of 2,426 pence per share on Monday. Together the two sales were worth GBP698,425. Shares in the financial markets technology provider closed up 0.3% at 2,491.00p Wednesday.
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Zambeef Products said Non-Executive Director Graham Clark bought 1.0 million shares at an average price of 15.19 pence per share on Tuesday. The purchase is Clark's only holding in the Zambia-focused food producer. The stock closed up 3.9% at 16.10p Wednesday.
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Trakm8 Holdings said Non-Executive Director Bill Duffy bought 20,000 shares at a price of 200 pence per share Wednesday. Following this transaction, Duffy now holds 40,000 shares in the telematics and data supply firm. The stock closed down 2.2% at 195.70p Wednesday.
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Christie Group said Chief Executive Officer David Rugg bought 15,000 shares at a price of 90 pence per share on Thursday. Following this transaction, Rugg now holds 2.8 million shares, which represents 10.6% stake in the firm. The stock closed down 0.6% at 87.00p Wednesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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