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https://www.investorschronicle.co.uk/tips-ideas/2020/11/19/big-director-buys-and-sells-updated-18-nov/

Aston Martin director bets on carmaker’s turnaround potential

Things are looking brighter for Aston Martin Lagonda (AML), manufacturer of the British supercar marque favoured by fictional spy James Bond. The lossmaking company recently reported a 173 per cent increase in revenue for the first nine months of the year to £736.4m, allowing it to cut its pre-tax loss by 39 per cent to £188.6m.

Aston Martin Lagonda was brought to the market by private equity company InvestIndustrial in 2018. It has performed poorly since, accelerating pre-tax losses of £68.2m in the year of its float to more than £100m in 2019 and £466m last year.

Canadian billionaire Lawrence Stroll led a consortium in April last year to buy a sizeable chunk of the business as InvestIndustrial sold its remaining shares.

AML’s high debt levels meant that it had to pay more than 10 per cent interest on five-year dollar and sterling notes issued last year, which has increased its financing costs. The company also recently scrapped plans to issue a 7 per cent bond to retail investors to cover the cost of building a new factory, with Stroll telling Reuters that more attractive sources of funding were available.

He holds 21.3 per cent of the company’s shares. Non-executive director Michael de Picciotto, a former private banker at Union Bancaire Privee, has also been increasing his stake. He bought £1.74m worth of shares on 5 November through his Swiss-registered investment vehicle, Saint James Invest. This is his fourth large purchase in 2021, totalling £4.2m. He now holds a stake of about 0.66 per cent in the company, according to FactSet.

Warwickshire-based AML has a medium-term target of producing about 10,000 vehicles by 2024/25, on which it expects to make £2bn of revenue and £500m of earnings before interest, depreciation and amortisation. It is forecasting delivery of about 6,000 vehicles this year. MF.

I will email to LSE Admin - if this carry on I will report it.