DIRECTOR DEALINGS SUMMARY: Dialight Chairman Buys After Dim First Half

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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Dialight said Chairman Bill Ronald bought 5,150 shares at a price of 455 pence per share on Monday as the company announced woeful first half results and the scrapping of its interim dividend.

Following this transaction, Ronald holds a total of 31,000 shares, representing 0.095% of the issued share capital.

The LED company on Monday had posted a fall in pretax profit in the first half of 2015, despite a rise in revenue, as the group was hit by higher costs across the board, prompting it to scrap its interim dividend payout.

Dialight produced no pretax profit in the half, compared to GBP5.2 million a year earlier, as a rise in revenue to GBP80.6 million from GBP70.9 million was completely wiped out by higher cost of sales, distribution costs and administrative costs. The weaker profit performance caused the company to scrap its interim dividend payout, having paid out 5.2 pence per share a year earlier.

"We are clearly disappointed by the half year results for the group, which reflect the adverse impact of operational inefficiencies and the impact of the oil and gas sector on lighting revenue growth in the second quarter of 2015," said Michael Sutsko, Dialight's chief executive.

Shares closed down 2.7% at 448.75p Tuesday.
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Oil and gas major BP said Human Resources Director Helmut Schuster sold 10,000 shares at a price of GBP3.94048 each Tuesday. His total remaining shareholding was undisclosed. BP earlier Tuesday said it swung to a loss in the first half of 2015 after revenue fell due to lower oil prices and it booked charges related to its long-awaited settlement over the 2010 Deepwater Horizon oil spill in the Gulf of Mexico. The FTSE 100 company reported a replacement cost loss of USD6.26 billion in the second quarter of 2015, swinging from a USD3.18 billion profit a year earlier. The stock closed up 1.4% at 392.65 Tuesday.
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MX Oil said Chairman Andrew Frangos bought 2.3 million shares at a price of 3.9 pence per share Monday, which is his only holding. The purchase was valued at GBP87,750. MX Oil on Monday said drilling on the Aje 5 production well offshore Nigeria has started in preparation for production to begin before the end of 2015, slightly ahead of its previous guidance. The stock closed down 3.1% at 3.78p Tuesday.
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Sepura said Juan Ferro, chief executive of Teltronic, bought 218,750 shares at a price of 156.50 pence per share Monday. The purchase is his only holding in Sepura, a communications services company. In May, Sepura agreed to acquire wireless communications company Teltronic SAU for EUR127.5 million, to be funded by both its existing debt and by a share placing. Shares in Sepura closed up 0.7% at 155.50p Tuesday.
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Sabien Technologies Group said Non-Executive Director Karl Monaghan will, as part of its share placing, receive 140,000 shares at 7 pence per share. As a result, after August 3, Monaghan's holding in Sabien will be 1.4 million shares, representing 3.2% of the enlarged issued share capital. The energy-efficient technology company said last Monday it has raised GBP770,000 via a share placing. Sabien said it has placed a total of 9.9 million shares at 7 pence per share with institutional investors and has issued a further 1.1 million shares at the same price to TVI 2 Ltd, an existing shareholder in Sabien. Sabien said the placing was oversubscribed and said the proceeds will back its plans to roll out more pilot projects for its M2G technology. Shares closed up 2.5% at 8.20p Tuesday.
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LondonMetric Property said Mark Stirling, a director of the company, and Karen Stirling, his wife, together acquired 15,200 shares at 161.04 pence per share on Tuesday. Following this transaction, Mark Stirling holds 1.7 million shares, which represents 0.3% of the issued ordinary share capital. Shares in the property investment and development company closed up 0.5% at 161.34p Tuesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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