Soco International Share News (SIA)

A director at Soco International showed confidence in the business by purchasing new shares following a recent slump in the stock which sent it to a new 52-week low.Ettore Contini, non-executive director in the group since 2001, bought 377,609 shares for an individual price of 142.56p, spending a total of £538,319 in the purchase.The shares were bought by Liquid Business Limited, a connected party to Contini, who now holds 29m shares, which represent 8.74% of the issued share capital of the company.The oil stock, which was trading at a recent high of around 450p mark last May, has fallen sharply over recent months on the back of a continued slide in the price of crude.However, selling intensified last week as Soco warned that it had reclassified a large portion of its reserves due to the oil price slump. The stock closed Tuesday's session at 140p.Soco reclassified 38.9m barrels of oil equivalent reserves as '2C' contingent resources, a 'best estimate' classification, plus a 45.4m barrel revision, which together saw its proven plus probable resources (2P) shrink by two thirds to 40.8m barrels.However, president and chief executive Ed Story said at the time of the results that 2014 was "a strong year" for Soco which saw a cash return to shareholders of $119m and a cash dividend of 10p per share. Top Director BuysSoco International (SIA) Director name: Mr Ettore ContiniAmount purchased: 377,609 @ 142.56p Value: £538,319Ubisense Group (UBI) Director name: Mr Robert Sansom Amount purchased: 270,000 @ 91.50p Value: £247,050KEFI Minerals (KEFI) Director name: Mr Harry Anagnastoras-AdamsAmount purchased: 23,000,000 @ 1.00p Value: £230,000Xchanging (XCH) Director name: Mr Geoff UnwinAmount purchased: 76,000 @ 128.00p Value: £97,280Marks & Spencer Group (MKS) Director name: Mr Andrew Nigel (Andy) HalfordAmount purchased: 18,000 @ 513.00p Value: £92,340Deltex Medical Group (DEMG) Director name: Mr Tim (Timothy) IrishAmount purchased: 1,000,000 @ 6.47p Value: £64,800Revolution Bars Group (RBG) Director name: Mr Keith EdelmanAmount purchased: 30,500 @ 195.00p Value: £59,475Intu Properties (INTU) Director name: Ms Adèle AndersonAmount purchased: 14,380 @ 347.70p Value: £49,999Ubisense Group (UBI) Director name: Mr Richard GreenAmount purchased: 54,000 @ 91.50p Value: £49,410Porta Communications (PTCM) Director name: Mr David E WrightAmount purchased: 471,000 @ 7.00p Value: £32,970Top Director SellsGKN (GKN) Director name: Mr Nigel SteinAmount sold: 465,189 @ 370.00p Value: £1,721,199InterQuest Group (ITQ) Director name: Mr Michael JoyceAmount sold: 313,333 @ 91.00p Value: £285,133InterQuest Group (ITQ) Director name: Mr Mark BraundAmount sold: 95,000 @ 91.00p Value: £86,450InterQuest Group (ITQ) Director name: Mr Mark BraundAmount sold: 95,000 @ 91.00p Value: £86,450