(Sharecast News) - John Menzies non-executive director Philipp Joeinig acquired 49,695 ordinary shares in the aviation and distribution services business on Friday.Joenig, who was appointed to the board back in 2017, purchased the shares at an average cost of 555p each, for a total value of £275,807.26.Early in the year, Menzies said it was not expecting any material impact on its underlying effective tax rate for 2018 onwards.The London-listed firm said that was because historically, its effective tax rate on US profits had been reduced by the offset of net operating losses brought forward and the recognition of a deferred tax asset in relation to net operating losses carried forward.Its board said it was continuing to consider the impact the full US tax reform would have on the group; however its current expectation was that - as those net operating losses were utilised - the reduction in US tax rates should allow the group to maintain the underlying effective tax rate at or around 28% going forward.As of 1600 BST, Menzies shares had slipped 0.54% to 548p.Top Director BuysMenzies(john) (MNZS)Director name: Joeinig,PhilippAmount purchased: 49,695 @ 555.00pValue: £275,807.26Time Out Group (TMO)Director name: Daiches Dubens,Peter Adam Amount purchased: 300,302 @ 83.00pValue: £249,250.65Cropper (james) (CRPR)Director name: Cropper,Mark A JAmount purchased: 7,113 @ 1,285.00pValue: £91,402.05Griffin Mining Ltd. (GFM)Director name: Usdan ,Adam Amount purchased: 50,000 @ 86.00pValue: £43,000.00Shoe Zone (SHOE)Director name: Sharman ,Jeremy Amount purchased: 24,000 @ 165.15pValue: £39,636.00Touchstar (TST)Director name: Martin,Ian PaulAmount purchased: 35,000 @ 44.70pValue: £15,645.00Aviva (AV.)Director name: Cross,PatriciaAmount purchased: 2,901 @ 497.41pValue: £14,429.87Odyssean Investment Trust (OIT)Director name: Tufnell ,Jane Amount purchased: 4,748 @ 103.68pValue: £4,922.73Itv (ITV)Director name: Harris,MaryAmount purchased: 2,727 @ 157.19pValue: £4,286.57Aviva (AV.)Director name: Garcia,Belen RomanaAmount purchased: 846 @ 497.41pValue: £4,208.09Directa Plus (DCTA)Director name: Ferrari,Marco Amount purchased: 4,500 @ 63.00pValue: £2,835.00Menzies(john) (MNZS)Director name: Joeinig,PhilippAmount purchased: 305 @ 553.00pValue: £1,686.65Mortgage Advice Bureau (holdings) (MAB1)Director name: Imlach,Nathan James McLeanAmount purchased: 238 @ 610.00pValue: £1,451.80Nuformix (NFX)Director name: Siderman-Wolte,Kirk Amount purchased: 35,364 @ 2.60pValue: £919.46Record (REC)Director name: Cullen,SteveAmount purchased: 551 @ 40.90pValue: £225.363i Group (III)Director name: Wilson,JuliaAmount purchased: 16 @ 956.87pValue: £153.103i Group (III)Director name: Dunn,KevinAmount purchased: 16 @ 956.87pValue: £153.10Top Director SellsBarr (a.g.) (BAG)Director name: Memmott,Andrew LewisAmount sold: 6,976 @ 720.36pValue: £50,252.36Shoe Zone (SHOE)Director name: Sharman ,Jeremy Amount sold: 24,000 @ 165.00pValue: £39,600.00Greencoat Uk Wind (UKW)Director name: Badger,DanAmount sold: 13,415 @ 128.00pValue: £17,171.20