Hutchison China Meditech director tops up stake

Michael Howell, an Independent Non-Executive Director at Hutchison China Meditech, a research and development company majority-owned by Chi-Med, purchased 31,800 shares at 435.00p each on Tuesday.The £138,330 transaction, which takes Howell's interest in the company to 153,600 shares, comes six weeks after the firm unveiled a strong first half. During the six months ended June 30th, Hutchison saw pre-tax profits almost doubled to $6.5m on revenues of $109.2m, and said it was well-positioned to take advantage of the enormous Chinese market. The firm said profits had been spurred on by the rapid expansion of domestic consumer spending power in China. The AIM 100-listed company has seen a 25% increase in its share price over the past year, equal to 85p. Towards the end of August the company announced Panmure Gordon as its new financial advisor after its old one, Lazard, stopped its nominated advisory services. Top Director BuysHutchison China Meditech Ltd (HCM) Director name: Mr Michael HowellAmount purchased: 31,800 @ 435.00p Value: £138,330Elektron Technology (EKT) Director name: Mr Keith Anthony DaleyAmount purchased: 250,000 @ 17.00p Value: £42,500Xchanging (XCH) Director name: Mr Stephen Wilson Amount purchased: 33,768 @ 116.50p Value: £39,340Standard Life (SL.) Director name: Ms Noel HarwerthAmount purchased: 10,000 @ 277.00p Value: £27,700Ironveld (IRON) Director name: Mr Charles Giles ClarkeAmount purchased: 1,000,000 @ 2.35p Value: £23,500NR