James Norris reviews directors buying and selling shares in their own company in his weekly column.
- Ergomed CFO pockets proceeds as stock rises
- Jupiter Fund Management directors buy at 10-year low
- Quadrise Fuels International chair buys following MSC deal
- Alfa Financial Software NED shows faith
- Pacific Assets Trust new non-exec buys in
Ergomed (LON: ERGO), a provider of specialist pharmaceutical services across all phases of clinical development, post-approval pharmacovigilance and medical information, has announced that chief financial officer Richard Barfield has sold 25,000 ordinary shares at 1,170p, for £292,500. In a trading update, Ergomed reported a strong first half of 2022, with a 24.8% increase in revenue of £69.9m, 18.7% growth in the total order book so far this year and debt free status. Over the past two weeks, the stock’s valuation has jumped more than 30%. At close of trading yesterday, the stock was priced at 1,172p, a return of -21.9% YTD and -4.7% over 12 months.
A number of Jupiter Fund Management (LON: JUP) directors bought shares in the company last week, as its shares hit their lowest point in more than a decade. Fund management veteran and chair of the board Nichola Pease bought 40,000 shares at 126p for £50,400; non-executive director Roger Yates (also chairman at Pioneer Investments) bought 100,000 shares at 125p each for £125,240; and non-executive director Dale Murray bought 20,090 shares at 123p each for £24,871. Newly promoted deputy chief executive Matthew Beesley, due to take over from departing CEO Andrew Formica in October, also bought 40,650 shares at 119p each for £48,373.
In an interim report issued on the same day, Jupiter announced that its first half 2022 AUM fell by 19% to £48.8bn amid net outflows of £3.6bn, a result Formica described as “disappointing”. At close of trading yesterday, the stock was priced at 130.8p, a return of -49.7% YTD and –52.5% over 12 months.
Quadrise Fuels International (LON: QFI), the supplier of carbon alternatives to fuel oil and biofuels, announced yesterday that non-executive chairman Andy Morrison bought 700,000 ordinary shares in the company at a price of 1.48p per share for £10,377. Quadrise has just signed an agreement with MSC Shipmanagement to trial its proprietary synthetic fuels, with the aim of potentially supplying them for use in MSC’s container fleet, which is the largest in the world. At close of trading yesterday, the stock was priced at 1.53p, a return of -39.1% YTD and -47.4% over 12 months.
Alfa Financial Software (LON: ALFA), a developer of mission-critical software for the asset finance industry, yesterday announced that non-executive director Chris Sullivan bought 159,649 shares in two batches at 149p and 150p, with a total trade value of almost £238,166. Last week, the company issued an update stating that trading was in line with expectations, with good revenue growth in the first half benefiting from continued growth in subscription revenues. The company says it remains confident of achieving full-year market expectations, with the opportunity to exceed them. At close of trading yesterday, the stock was priced at 155p, a return of -18.2% YTD and -7.6% over 12 months.
Pacific Assets Trust (LON: PAC) yesterday announced that Andrew Impey was appointed to the board as an independent non-executive director and that he had bought 10,000 shares at 335.7p, for a total of £33,571. Impey is also chairman of JP Morgan UK Smaller Companies Investment Trust. At close of trading yesterday, the stock was priced at 329.5p, a return of -9.14% YTD and -1.30% over 12 months.
