LONDON (Alliance News) - Engineer TP Group PLC said its chief executive and another of its directors bought a total of 500,000 shares on Monday.
Chief Executive Officer Phil Cartmell bought 200,000 shares at 3.0 pence each. The purchase takes his holding to 2.1 million shares, representing 0.50% of TP's issued share capital.
The company also said Simon Kings, a director, bought 300,000 shares at a price of 2.8p each. Following the purchase, Kings now has a total beneficial interest in 400,318 shares, representing 0.09% of the issued share capital.
TP Group on Monday said it is set to break even for 2015 after a change of strategic focus. The company said its adjusted earnings before interest, taxation, depreciation and amortisation is expected to have hit breakeven for the year to the end of December, with its cash balance to be ahead of its expectations at GBP7.0 million.
The stock was up 9.1% at 3.00p Tuesday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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