DIRECTOR DEALINGS SUMMARY: Gear4music Trio Sell For GBP7.4 Million

LONDON (Alliance News) - The following is a summary of director dealings reported in London on Tuesday.
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Gear4music (Holdings) said three of its board members sold a combined total of about GBP7.4 million worth of stock AS the online musical instruments and equipment retailer swung to a profit on Tuesday.

Key Capital Partners, a vehicle connected to Non-Executive Director Peter Armitage, sold 2.0 million shares at 300 pence each on Monday. The deal is worth GBP6.0 million gross.

After the sale KCP's interest is now in 829,482 shares, representing approximately 4.1% stake in the group.

The company also said Chief Executive Officer Andrew Wass sold 400,000 shares at the same price in a deal worth GBP1.2 million gross. He now holds 7.9 million shares or a 39.1% stake.

Additionally, Non-Executive Director Dean Murray sold 75,000 shares also at the same price. He now holds 249,520 shares. The deal is worth GBP225,000.

Gear4Music on Tuesday said it swung to a profit in its recently ended first half thanks to rising website traffic and improved conversion rates.

Gear4Music reported pretax profit of GBP966,000 for the six months ended August 31, swinging from a GBP1.1 million pretax loss a year earlier, as revenue grew to GBP21.6 million from GBP12.5 million.

The stock closed up 12% at 355.00p Tuesday.
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Restaurant Group said three of its board members, including new Chief Executive Officer Andy McCue, bought shares on Monday.

McCue bought 50,000 shares at 356.7 pence each, which is his only holding in the company.

In August, the Frankie & Benny's and Garfunkel's restaurant chain operator ousted Danny Breithaupt from the top job following a series of profit warnings and weak trading updates. He was then replaced by McCue, who was former CEO of Irish betting firm Paddy Power. He left Paddy Power following its merger with UK online betting company Betfair Group.

The company also said Chief Financial Officer Barry Nightingale bought 13,617 shares at 362.5p each which is also his only holding. He was appointed in June. Chairman Debbie Hewitt bought 7,012 shares at 354.52p each, taking her shareholding to 35,642 shares.

The stock closed up 8.1% at 381.91p Tuesday, the best performer in the FTSE 250.
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IG Group Holdings said its new Chief Financial Officer Paul Mainwaring acquired shares in the online trading firm on Monday.

Alison Mainwaring, a person connected to Paul Mainwaring, bought 30,000 shares at 848.87 pence each.

In July, IG hired Mainwaring, formerly of interdealer broker Tullett Prebon, as its permanent CFO. He took over from Mark Ward, who had handled the role on an interim basis after Chris Hill had left in 2015 to join fund supermarket Hargreaves Lansdown.

The stock closed down 0.4% at 832.98p Tuesday.
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Tritax Big Box REIT said Chairman Richard Jewson acquired shares as part of an open offer and share subscription on Tuesday.

Jewson acquired 11,457 shares taking his shareholding to 66,002 shares.

The company also said Colin Godfrey, a member of the trust's manager, acquired 12,198 shares on Tuesday and now holds 444,060 shares.

Tritax Big Box REIT on Friday said it raised GBP350.0 million via a share placing, open offer and subscription, significantly ahead of the target size of GBP150.0 million. Tritax said a total of 265.2 million shares were issued at a price of 132.00 pence per share. Of these, 76.4 million were issued under the open offer, 29.6 million pursuant to the subscription, a further 83.4 million under the placing, and 75.8 million under the tap issue.

The stock closed up 0.3% at 135.77p Tuesday.
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Jardine Lloyd Thompson Group said Karen Harvey, a person associated to Non-Executive Director Richard Harvey, sold 11,569 shares at a price of 1,027 pence each on Tuesday. The stock closed up 2.2% at 1,039.00p Tuesday.
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Amiad Water Systems said Non-Executive Director Amos Shalev bought 7,500 shares at a price of 146 pence per share on Friday. Following the transaction, Shalev has an interest in 10,750 shares. The stock closed down 1.8% at 137.50p Wednesday.
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Nichols said Head of IT Allan Doyle, together with his wife, sold 5,027 shares at a price of 1,410 pence per share on Monday. Following this transaction, the Doyles hold a total of 5,520 shares in the Vimto maker. Shares in the soft drinks firm closed up 2.1% at 1,450.00p Tuesday.
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JPMorgan Smaller Companies Investment Trust said Chairman Michael Quicke bought 2,197 shares at a price of 794.625 pence per share on Tuesday. The stock closed flat at 785.00p Tuesday.
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Marshall Motor Holdings said Chairman Peter Johnson bought 25,000 shares at a price of 150 pence per share on Tuesday. Following this transaction, Johnson now holds 175,328 shares, or a 0.23% stake. The company also said Non-Executive Director Alan Ferguson bought 25,000 shares at the same price. He now holds 58,557 shares. The car dealer on Tuesday said trading for 2016 remains in line with its expectations. Like-for-like sales have been strong and it saw significant sales growth in September, a key month for the car retail industry due to the registration plate change. The stock closed up 8.0% at 148.00p Tuesday.
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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

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