LONDON (Alliance News) - The following is a summary of director dealings reported in London on Friday.
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Events company Vitesse Media on said it has entered into a subscription agreement with its chairman to raise GBP250,000 in total.
Vitesse will issue Non-Executive Chairman Chris Ingram 13.9 million shares at 1.8 pence per share.
Vitesse said the subscription will involve Ingram paying GBP180,000 in cash to the company, with the balance to be applied to an outstanding GBP70,000 debt the company owes to him.
The funds will support the expansion of the business and will result in Ingram holding a total of 16.8 million shares, or a stake of around 26% in the company. Ingram will become executive chairman of the business following the subscription and become more involved in the day-to-day running of the company, Vitesse said.
The stock closed up 125% at 3.10p Friday.
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Pub operator Mitchells & Butlers said Property Director Gary John bought 6,851 shares at a price of 290p per share Friday. His total shareholding was undisclosed. Mitchells & Butlers on Thursday said it saw robust like-for-like sales growth over the Christmas period, though its like-for-like sales declined in the 17 weeks to January 23. The FTSE 250 company said its total like-for-like sales for the 17-week period were down 1.0%, with food sales down 1.5% and drink sales down 0.6%. The stock closed up 0.6% at 289.90p Friday.
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Paragon Group of Companies said Non-Executive Director Alan Fletcher bought a total of 14,114 shares on Thursday. The purchases were made in two separate transactions: 8,782 shares were bought at 318.80p each and 5,332 at 318.78p. Following the purchases, Fletcher holds 97,044 shares. The stock closed up 0.7% at 318.19p Friday.
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Hunters Property said Chief Executive Officer Harry Hill and his wife, purchased a total of 7,000 shares at a price of 75p per share on Thursday. Following this transaction, Hill's holding in Hunters is 75,005 shares, representing 0.27% of the issued share capital. Shares in the estate agency closed untraded on Friday, having last traded at 75.00p.
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Baillie Gifford Japan Trust said Non-Executive Director David Kidd bought 5,000 shares at 445.35p per share Friday. The purchase is Kidd's only holding after being appointed in November last year. The stock closed up 3.0% at 449.50p Friday.
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Coms said two of its top executives bought shares in the infrastructure, managed services and smart buildings company. Chief Financial Officer Spencer Dredge bought 768,311 shares at 1.30p each on Friday. The purchase takes Dredge's holding to 1.8 million share, equating to a 0.13% stake. Chief Executive Mark Braund bought 400,000 shares at 1.29p each on Thursday, taking his holding to 10.6 million shares equating to 0.76% stake. The stock closed down 4.7% at 1.36p Friday.
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Gable Holdings said two of its directors bought a combined total of 355,000 shares on Thursday. Chief Executive William Dewsall bought 200,000 shares at 12.75p each. The purchase increases his holding to 25 million shares, equating to a 18.5% stake. Finance Director Mike Hirschfield bought 155,000 shares at 12.5p each. He now holds 592,650 shares or 0.44% stake. Shares in the insurer closed up 5.6% at 13.33p Friday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
Copyright 2016 Alliance News Limited. All Rights Reserved.
10 Jun 2010 08:16
Vitesse Media profits from cuts
Publishing and events firm Vitesse Media turned into profit for the year after it slashed admin costs. Pre-tax profit came in at £36,000 against loss of £493,000 last year despite revenue falling to £3.6m from £4.9m before. Revenues were lower because of continuing difficulties in some print areas.
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