Greencore director boosts stake after horse meat scandal hits firm

John Warren, a non-Executive Director of Irish food producer Greencore, has increased his stake in the company just a few days after the company was forced to admit horse meat had been found in its beef bolognese sauce.The director purchased 25,000 shares at 105.60p each, costing £26,400 before tax. Greencore last week confirmed that its Chosen By You 350g Beef Bolognese has been withdrawn from Asda supermarkets following the detection of horse DNA. Three other Greencore products were taken off shelves "as a precautionary measure" but they did not test positive for horse meat. Items included the 600g Beef Broth Soup, 500g Meat Feast Pasta Sauce, and 400g Chilli Con Carne Soup. The bolognese sauce contributed circa £0.3m of £1.16bn turnover in Greencore's last financial year. The annualised revenue of all products withdrawn represents less than £1.0m. "The company is currently awaiting the results of further quantitative tests on the 350g Beef Bolognaise Sauce that will validate the presence and the extent of the equine DNA," the group said in a statement. Top Director BuysChrysalis VCT (CYS) Director name: Dr Martin KnightAmount purchased: 50,000 @ 61.50p Value: £30,750Greencore Group (GNC) Director name: Mr John WarrenAmount purchased: 25,000 @ 105.60p Value: £26,400Top Director SellsAccsys Technologies (AXS) Director name: Mr Paul Clegg Amount sold: 422,526 @ € 0.16 Value: €66,548NR