Sage Chairman makes most of lower share price after CEO retirement news

Sage Chairman Donald Brydon has purchased 15,000 shares in the company following the surprise announcement of the retirement of its Chief Executive Officer (CEO) by March next year. The FTSE-100 software firm saw its shares spiral following the news, despite it also reporting a 5% increase in half-year revenue, driven by strong growth in software subscription. Brydon paid 390.20p a share for a total spend of £58,530, reflecting yesterday's slump of around 27p. On Thursday the group revealed its organic revenue had risen to £657m for the six months ended March 31st from £626m the same time a year earlier. Operating profit rose to £180m from £165m and underlying basic earnings per share rose 8.3% to 11.12p. The Newcastle-upon-Tyne group said statutory revenue fell 7% to £657m while profit before income tax came in at £165m compared to an £8m loss the year before due to an exceptional item of £180m relating to disposals.Top Director BuysRotala (ROL) Director name: Mr John GunnAmount purchased: 1,050,000 @ 50.00p Value: £525,000Schroders (Non-Voting) (SDRC) Director name: Mr Philip MallinckrodtAmount purchased: 7,800 @ 2,005.00p Value: £156,390Sage Group (SGE) Director name: Mr Donald H BrydonAmount purchased: 15,000 @ 390.20p Value: £58,530Kofax Limited (DI) (KFX) Director name: Mr Joe RoseAmount purchased: 8,000 @ 402.87p Value: £32,230Azonto Petroleum Ltd (DI) (AZO) Director name: Mr Andrew RoseAmount purchased: 2,400,000 @ 1.25p Value: £30,000Azonto Petroleum Ltd (DI) (AZO) Director name: Mr Robert James ShepherdAmount purchased: 2,400,000 @ 1.25p Value: £30,000BlackRock Greater Europe Inv Trust (BRGE) Director name: Miss Carol FergusonAmount purchased: 9,600 @ 233.00p Value: £22,368S&U (SUS) Director name: Mr Anthony M V CoombsAmount purchased: 600 @ 1,910.00p Value: £11,460Top Director SellsCLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount sold: 381,218 @ 1,495.00p Value: £5,699,209Reckitt Benckiser Group (RB.) Director name: Mr Rakesh KapoorAmount sold: 11,300 @ 4,828.72p Value: £545,645CRH (CRH) Director name: Mr Mark S ToweAmount sold: 18,000 @ 1,663.40p Value: £299,412CLS Holdings (CLI) Director name: Mr Thomas J ThomsonAmount sold: 1,399 @ 1,495.00p Value: £20,915CLS Holdings (CLI) Director name: Mr H O Thomas LundqvistAmount sold: 1,356 @ 1,495.00p Value: £20,272NRNR