LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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Northbridge Industrial Services said Chairman Peter Harris and Chief Executive Eric Hook increased their shareholdings in the company. The director dealings came just shy of two weeks since the industrial services and rental company made a note of a decline in its share price, and said it knew no specific reason for the movement.
At the end of September, Craig Robinson left his role as finance director in order to cut costs as Northbridge said it swung to a GBP2.1 million pretax loss in the six months to June 30 from a GBP3.3 million pretax profit in the corresponding half the prior year, amid tough market conditions for the parts of the company involved in the oil and gas industry, which has suffered from a slump in the price of crude oil.
Harris now owns 6.7% of the company, following the purchase of 100,000 shares. His resulting stake consists of slightly more than 1.2 million shares.
CEO Hook bought 150,000 shares to give himself a total of 500,000 shares in the company, equivalent to a 2.7% stake. In addition, Western Selection PLC, which is chaired by Northbridge Non-Executive Director David Marshall, bought 600,000 shares. That means Western Selection now owns 13.6% of Northbridge. The shares were bought on Monday at 70 pence each, valuing the combined purchase at GBP595,000.
Shares in Northbridge closed up 28% on Tuesday to 91.00p, the best performer in the AIM All-Share.
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Boxhill Technologies said Chairman Timothy Russell sold 14.0 million shares in the company on Monday. Russell sold the shares for 0.32 pence per share "in order to meet some personal obligations", Boxhill said. Following the sale, the chairman owns 63.0 million Boxhill shares, or 4.3% of the company's issued share capital. The payments software company's shares closed up 0.8% to 0.338p on Tuesday.
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Vehicle retailer and distributor Inchcape said five of its directors purchased shares in the company, all at 797.50 pence per share. Nigel Northridge, senior non-executive director, bought 250 shares. Till Vestring, non-executive director, bought 273 shares. Non-Executive Director Alison Cooper bought 181 shares. Non-Executive Director John Langston bought 214 shares, and Non-Executive Director Coline McConville bought 181 shares. Shares in Inchcape closed down 0.6% to 795.00p Tuesday.
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Development Securities said Deputy Chief Executive Richard Upton bought shares in the company on Monday. Upton bought 6,250 shares at 240.00 pence per share, taking his beneficial interest in the company to 2.2%. Shares in the property developer closed down 2.6% to 236.00p on Tuesday.
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River and Mercantile UK Micro Cap Investment Co said Fund Manager Philip Rodrigs acquired 85,338 shares in the company at 117.18 pence per share on Tuesday. Following the transaction, Rodrigs holds a total of 280,338 shares which represents a 0.416% stake in River and Mercantile UK Micro Cap. Last week, the investment fund placed 16.7 million shares at a price of 117.18p to raise GBP19.5 million. River and Mercantile UK Micro Cap shares closed down 1.5% to 117.25p on Tuesday.
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By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
28 May 2015 08:35
