Last checked at LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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dotDigital Group said new Chief Executive Officer Simone Barratt bought 85,500 shares at a price of 34.30p per share Monday. The deal is worth about GBP29,000.
Following this transaction, Barratt holds 463,000 shares, which represents 0.16% of issued shares.
Barratt took up the role in February, succeeding Peter Simmonds, who remains on the board as a non-executive director. Barratt said the transition into the position has "gone smoothly ensuring the growth momentum and strategic direction of the business has been maintained."
Shares closed 1.5% lower at 34.00p.
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Spark Ventures said it has raised a total of GBP13.9 million from a placing and asset swap and said it intends to raise a further GBP3.1 million via an open offer in order to pursue a new investment strategy in partnership with fellow London-listed Gresham House. The GBP10.1 million placing is not underwritten, and the open offer will allow up to 349,038 new shares to be issued on the basis of one open offer share for every existing 1,200 Spark shares, which then will be consolidated on 1-for-200 basis. The shares are being offered at a 10% discount to the post-consolidation equivalent price of 1,000p, or 900p per share. Spark directors David Potter, Thomas Teichman, Charles Berry and Helen Sinclair intend to subscribe for shares in the open offer. In addition, Anthony Dalwood, Graham Bird, Bruce Carnegie-Brown, Rupert Robinson and Michael Philips, who are members of the Gresham House senior management team, also intend to participate. Spark shares closed down 5.2% at 4.74p, while Gresham shares closed down 0.85 at 265.50p.
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Chariot Oil & Gas said George Canjar and David Bodecott, both non-executive directors, bought 75,060 and 58,528 shares, respectively, at 8.5p per share Monday. Following this transaction, Canjar holds 291,573 shares, while Bodecott holds 58,528 shares. The oil and gas stock closed down 2.4% at 8.15p.
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Frontier Resources International said that it has raised a further GBP148,413 through the issue of 42.4 million shares at a price of 0.35p, following its placing to raise GBP205,000 last Friday. A total of GBP395,557 was due to Chief Executive Officer Michael Keyes mostly in relation to deferred salary payments, and GBP40,000 was due to Finance Director Barbara Spurrier in relation to accrued but unpaid remuneration. An amount of GBP108,889.25 has been written off, and the the company has settled GBP54,444.63 of this debt by issuing 5.6 million shares to Keyes and Spurrier at the same price as the placing at the end of June. Shares closed down 13% at 0.390p.
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F&C Global Smaller Companies said Non-Executive Director David Stileman bought 1,000 shares at a price of 1,004p per share Monday which is his only holding in the trust. Stileman was appointed to the F&C board in June. F&C Global Smaller Companies shares closed 0.6% lower at 992.00p Tuesday.
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Infrastructure India said Chief Executive Officer Sonny Lulla bought 60,000 shares at a price of 19.83p per share Monday. Following this transaction, Lulla is now interested in 850,000 shares, representing 0.12% of the company's issued share capital. Shares in the AIM-quoted infrastructure fund closed up 7.7% at 21.00p Tuesday.
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Recruiter Matchtech Group said Non-Executive Director George Materna sold 60,000 shares at a price of GBP5.675 Thursday. Following this transaction, Materna holds 7.7 million shares, which represents a 25.3% stake in the firm. The stock closed at 565.00p down 1.3% Tuesday.
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European Wealth Group said Chairman John Morton and Chief Executive Officer Roderick Gentry each purchased 15,000 new ordinary shares at a price of 83p per share Monday. Following these purchases, Morton retains a notifiable interest in 2.3 million shares in the company, representing approximately 10.17% of the issued share capital, and Gentry an interest in 2.3 million shares, about 10.09%. Shares closed down 5.8% at 82.00p Tuesday.
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First Derivatives said Non-Executive Director Virginia Gambale acquired 2,000 shares at a price of 1,435p per share and 2,400 shares at 1,445p Tuesday last week. The purchases are her only holding after being appointed in March. Shares in the data software provider closed down 1.0% at 1,458.00p Tuesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2015 Alliance News Limited. All Rights Reserved.
IN BRIEF: Infrastructure India notes recall notice for project debt
Infrastructure India PLC - infrastructure fund investing directly into assets in India - Notes loan recall notice received by Distribution Logistics Infrastructure India Ltd from the lenders to DLI's project debt. Notes that in late March, DLI was granted a period of grace for debt servicing by its Indian lenders until February and DLI management had been in discussion with its lenders regarding settlement of its dues. Says a loan recall notice in India is a precursor for the lenders to DLI to invoke the insolvency and bankruptcy code if DLI presents no satisfactory response to the notice within two weeks from the date of issue. Infrastructure India says it is in discussions with a third party and has received preliminary terms for the sale of DLI. Says these discussions are ongoing, although there can be no guarantee that these will lead to an agreement to sell DLI. Says it is liaising with DLI on this matter and will provide shareholders with further updates "as appropriate in due course".
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