LONDON (Alliance News) - Speedy Hire PLC Tuesday said Non-Executive Chairman Jan Astrand bought a total of 110,000 shares at a price of 40.5 pence per share on Monday.
In September, Speedy Hire said Astrand, who was then executive chairman, reverted to non-executive status, following a spat with hedge fund Toscafund Asset Management LLP. Toscafund holds a 19% stake in Speedy Hire and had been looking to oust Astrand from his chairman position earlier this year, but shareholders voted against Astrand's removal.
Shares in the tool, equipment and plant hire company were up 5.4% at 42.17p Tuesday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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Speedy Hire (SDY)