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Avanti Comms directors show their faith

Wed, 10th Oct 2012 16:30

It is fair to say that the market was not over the moon about the full year results from satellites operator Avanti Communications, but the directors believe the share price reaction has been overdone, a view they have been backing up with share purchases.David Williams, Chief Executive of Avanti, purchased 8,100 shares at 305p a pop, while another director, David Bestwick, bought 16,200 shares at the same price."We've been filling our boots, you might say," Williams told Sharecast.Non-Executive Director Paul Walsh purchased 10,000 shares at 298.60p for £29,860, while Chairman John Brackenbury added 5,000 shares at 292.50p for £14,625. The shares dipped as low as 290p in the first two hours of trading on Wednesday before recovering a little; the shares closed at 348.75p on Tuesday. They had lost 18% of their value by the close on Wednesday, equal to nearly 62p, ending that day at 287p.The dramatic share price fall was not caused so much by the full year results, which showed revenue in the year ended June 30th 2012 surged to £12.46m from £5.46m the year before, while the loss before interest, tax, depreciation and amortisation narrowed to £5.3m from £9.7m the previous year. Rather, it was the more conservative revenue guidance which spooked the market, with the big orders set to kick in later than the company had previously envisaged. Top Director BuysBHP Billiton (BLT) Director name: Mr Pat DaviesAmount purchased: 3,000 @ 1,946.69p Value: £58,401North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 71,089 @ 1,067.00p Value: £758,520CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 13,559 @ 713.50p Value: £96,743PureCircle Ltd. (DI) (PURE) Director name: Mr Tan Boon SengAmount purchased: 30,000 @ 210.00p Value: £63,000Avanti Communications Group (AVN) Director name: Mr David J BestwickAmount purchased: 16,200 @ 305.00p Value: £49,410Goldplat (GDP) Director name: Mr Russell LammingAmount purchased: 200,000 @ 15.65p Value: £31,300Avanti Communications Group (AVN) Director name: Mr Paul S WalshAmount purchased: 10,000 @ 298.60p Value: £29,860Avanti Communications Group (AVN) Director name: Mr David J WilliamsAmount purchased: 8,100 @ 305.00p Value: £24,705Avanti Communications Group (AVN) Director name: Mr F E John G BrackenburyAmount purchased: 5,000 @ 292.50p Value: £14,625CLS Holdings (CLI) Director name: Mr H O Thomas LundqvistAmount purchased: 1,800 @ 720.00p Value: £12,960Top Director SellsUnite Group (UTG) Director name: Mr Joe ListerAmount sold: 8,255 @ 263.76p Value: £21,773NR
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2 Jul 2013 08:24

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Amara Mining: Westhouse Securities raises target price from 60p to 90p and stays with its buy recommendation. Canaccord Genuity lowers target price from 50p to 40p maintaining its buy recommendation. Anite Group: Panmure Gordon shifts target price from 171p to 177p and reiterates a buy recommendati

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24 May 2013 15:36

Hikma Pharmaceuticals shrinks stake

Said Darwazah, the Chief Executive Officer of Hikma Pharmaceuticals, has reduced his stake in the FTSE 250 company, it was announced after Thursday's close. The director, who was the Minister of Health for the Hashemite Kingdom of Jordan from 2003 to 2006, sold 188,445 shares over a period of six d

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26 Apr 2013 15:09

Advanced Oncotherapy CEO makes triple purchase

The Chief Executive of Advanced Oncotherapy, a provider of new technology for innovative and patient-focused cancer treatments, has this week purchased three lots of shares in the group, taking his stake to just under 69.4m shares. On Thursday Sinclair purchased one round of 8.075m shares at 1.59p

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24 Apr 2013 16:03

Persimmon Chairman adds 10,000 shares

The Chairman of FTSE 250 house builder Persimmon has purchased 10,000 ordinary shares one week after the firm accelerated its planned dividend payment strategy. Nicholas Wrigley, who bought the shares at an average price of 1,069p for a total of £106,900, now holds 36,000 shares in the company.

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22 Apr 2013 16:30

InterContinental Hotels director sells 70,000 shares

InterContinental Hotels' President of the Americas has sold 70,000 shares on Monday, reducing his stake to 388,330 shares. The shares were sold for 1,858.95p each for a total of £1.3m. The transaction comes just a few weeks after the company agreed to sell the leasehold interest at its London P

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11 Apr 2013 16:13

Low & Bonar CEO and Finance Director trade in shares from LTIP

Steve Good, the Group Chief Executive of materials group Low & Bonar, has sold a significant portion of the 1.4m shares that recently vested under the company's long-term incentive plan. Of these, he sold 908,676, taking his total stake in the company to 919,098. Mike Holt, the group's Finance Di

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25 Mar 2013 15:55

Another big purchase for Intu Deputy Chairman

John Whittaker has made yet another big purchase in property company Intu, this time buying 195,000 shares at 329.20p. The £641,940 purchase takes his stake in the group to 20.02%, equal to 191.13m shares. Whittaker, who joined the board after selling Intu the well-known Trafford Centre shopping

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22 Mar 2013 16:16

Incoming Chairman at Rolls-Royce buys first round of shares

Ian Davis, the soon-to-be Chairman of Rolls Royce, has purchased his first shares in the company since being appointed to the board at the beginning of March. Davis, who has served on the boards of BP, Johnson & Johnson and McKinsey & Company, bought 5,000 shares at 1,110p at a total cost of £55,5

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21 Mar 2013 15:38

Intu Properties Deputy Chairman continues to build stake

John Whittaker, the Deputy Chairman of Intu Properties, has continued to show his support for the company after it was relegated to the FTSE 250 by boosting his stake in the group to 20 per cent. In two separate transactions the well-known property mogul purchased 600,000 shares worth £1.98m and t

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19 Mar 2013 15:59

Bwin.party non-exec makes double purchase

bwin.party digital entertainment announced Tuesday that one of its Non-Executive Directors has made two purchases following a report by the company admitting profits had suffered a sharp decline. Geoff Baldwin on Friday purchased 226,000 shares at 147.83p, followed by a further 74,000 on Monday at

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13 Mar 2013 16:21

John Whittaker increases stake in Intu

The Deputy Chairman of Intu (formerly Capital Shopping Centres), John Whittaker, has boosted his stake in the group by 60,000 shares two weeks after the company posted a stable set of full year results. Whittaker, who joined the board after selling the well-known Trafford Centre shopping mall to C

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13 Mar 2013 09:19

Pure Circle unveils sweet half-year results

PureCircle posted an 80 per cent increase in half-year sales Wednesday, driven by demand for the company's high purity stevia sweeteners and natural flavours. Sales for the last half of 2012 came to $27.4m, compared to $15.2m in the previous six-month period. Stevia sweeteners and natural flavour

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7 Jan 2013 13:03

PureCircle indicates that first half sales will rise 80 per cent

PureCircle, which produces sweetener products derived from stevia, has said that sales during the first half are expected to be 80 per cent higher than those seen in the same period of the previous year. The firm has put forward a figure of $27.3m, $26m of which are expected to be high purity ste

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26 Nov 2012 16:08

Associated British Foods directors sell newly vested shares

The Chief Executive and the Finance Director at Associated British Foods each sold a portion of newly vested shares on Friday. CEO George Weston sold 65,533 shares at 1,442.65p a time, earning him a total of £945,412, while Finance Director John Bason sold 64,373 at the same price for a total of £

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