LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.
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Private equity firm Clayton, Dubilier & Rice and SSA Investments, the Arora family investment vehicle, said they have sold a chunk of shares in FTSE 250-listed discount retailer B&M European Value Retail, raising GBP408 million.
The pair sold 120 million B&M shares for 340 pence per share, a discount to B&M closing price of 352.8 pence on Thursday. Shares closed down 2.3% at 344.81p Friday.
The shares were sold in a placing run by Bank of America Merrill Lynch, Goldman Sachs and Numis Securities. Bank of America Merrill Lynch had announced plans for the sale shortly after the London market close on Thursday.
The shares sold represent a 12% stake in the discount retailer. CD&R retains an approximate 11% stake in B&M, and SSA retains a 21% stake.
The statement late Thursday said that Chief Executive Simon Arora and and UK Trading Director Bobby Arora are "fully committed to the business and are confident in the outlook for B&M both in the UK and internationally".
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Tungsten Corp said Non-Executive Director Nicholas Parker bought 50,000 shares at a price of 67.999 pence per share on Wednesday. Following this transaction, Parker now has a beneficial interest in 121,250 ordinary shares, representing 0.1% of the total voting rights. Tungsten on Wednesday reported a wider loss in its last financial year, as revenue growth was outweighed by higher operating expenses. The electronic invoicing, analytics and financing company said it made a GBP27.3 million pretax loss in the year ended April 30, compared with GBP11.1 million in the prior year. Shares closed down 2.7% at 72.00p Friday.
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LXB Retail Properties said Chief Executive Officer Tim Walton bought 200,000 shares at a price of 82 pence per share. Following this transaction, Walton holds 7.4 million shares, which represents a 4.03% stake in the firm. The stock closed down 0.2% at 81.87p Friday.
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Stewart & Wight said Non-Executive Director Robert Foux bought 500 shares at a price of 400 pence per share. Following this transaction, Foux holds 3,630 shares, which represents a 0.2% stake in the firm. The stock closed untraded at 40.00p Friday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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7 Nov 2014 09:54