LONDON (Alliance News) - The following is a summary of director dealings reported in London on Monday.
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Strategic Minerals said Managing Director John Peters bought 4.7 million shares at a price of 0.50 pence per share Friday.
Following this transaction, worth GBP23,500, Peters has a beneficial interest in 5.7 million shares in the company, representing 0.64% of the company's issued share capital.
The purchase came a day after Strategic Minerals shares fell on Thursday afternoon despite management stating an announcement made earlier in the day had been "misinterpreted" and stressed the company is "progressing well" and "well balanced".
On Thursday morning, the company said it planned on buying more projects, describing it as "imperative" as the Cobre mine in New Mexico was not sufficient to cover its overheads. Managing Director John Peters said that while the Cobre mine remained profitable, it was not sufficient to meet its corporate overheads.
Then in a later statement Thursday afternoon, Peters said: "Unfortunately we believe the statement made earlier today has been misinterpreted, and I would like to reaffirm to all shareholders the current position of the company, which the board and I feel is highly encouraging and positive."
Shares in the UK-based mineral exploration and development company closed 8.5% lower at 0.423p.
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Metal Tiger said Paul Johnson, a director, bought 1.5 million shares at an average price of 0.967 pence per share for a total additional personal investment in the company of around GBP14,500 Monday.
Following this purchase, Johnson is interested in 5.6 million shares representing 1.85% of the issued share capital.
Commenting on the purchase Johnson said, "I am pleased to be able to buy a further holding today, and it is my intention to further increase my position, subject to the usual close period restrictions going forward."
In January Metal Tiger moved Johnson from non-executive director to an executive director position, in order to help identify, assess and manage its investments.
"Personally I believe Metal Tiger is considerably undervalued versus its current interests and forward potential in the natural resources marketplace. The market valuation of Metal Tiger has been constrained by market conditions, as is the case with most companies occupying this sector. Such conditions do not persist forever, and on the assumption of a recovery Metal Tiger is well placed to perform well for investors going forward." he added.
Shares in the natural resources investing closed up 5.3% at 1.0p.
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Housebuilder Telford Homes said Joint Managing Director John Fitzgerald sold 100,000 shares at a price of 427 pence per share Friday Following this transaction, Fitzgerald retains 282,718 shares in the company, representing 0.46% of the company's issued share capital and total voting rights. The stock closed up 0.2% at 426.75p.
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JPMorgan European Smaller Companies Trust said Non-Executive Director Nicholas Smith bought 5,000 shares at a price of 240.182 pence per share Monday. The purchase is his only holding in the trust after being appointed in May. The stock closed down 0.8% at 240.00p.
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JPMorgan Overseas Investment Trust said Senior Independent Director Nigel Wightman bought 1,000 shares at a price of 1052.18 pence per share Monday. He now holds 4,000 shares in the trust. The stock closed down 1.0% at 1,052.00p.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2015 Alliance News Limited. All Rights Reserved.
7 Mar 2013 15:42
Admiral Group Chairman trades in 100,000 shares
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