James Norris reviews directors buying and selling shares in their own company in his weekly column.
- Chairman sells 35k shares in Frontier Developments
- Frontier Ip Group Chairman sells 150k shares
- Non-exec buys 230k shares in K3 Business Technology
- Seeing Machines non-exec reorganises holdings
- Wizz Air non-exec buys 4,000 shares
Frontier Developments LON:FDEV chairman David Gammon has disposed of 35,000 shares at 1,400p per share, netting him £490,000. FDEV, the video game developer and publisher, in its full-year results in September reported record revenue of £114m and annual growth of 26%. FDEV attributed its revenue performance to the successful release of a number of titles over the past 12 months, including Jurassic World Evolution 2, Warhammer 40,000: Chaos Gate – Daemonhunters and F1 Manager 22, with a pipeline of further products to come for 2023 and 2024. At close of trading yesterday, the stock was priced at 1,418p, a return of -20.6% YTD and -42.4% over 12 months.
Frontier Ip Group LON:FIPP chairman Andrew Richmond last week sold a total of 150,000 shares in four tranches at between 68p and 71.25p, for an aggregate of £103,500. Richmond still has 850,000 shares in the company, currently worth some £630,000. FIPP, an intellectual property specialist, last month reported a 24% increase in the fair value of its equity portfolio, to £39.7m. FIPP in September announced that its portfolio company Nandi Proteins had raised £720,000 via a convertible loan, including a £360,000 investment from the UK Government’s Future Fund to support its efforts to replace chemical additives and fat in processed food. At close of trading yesterday, the stock was priced at 75.5p, a return of -22.7% YTD and -31.7% over 12 months.
K3 Business Technology Group LON:KBT non-executive director Oliver Scott has acquired 230,003 shares at an averaged price of 90p per share in two tranches, together worth £214.533. K3, which provides business‐critical software solutions focused on fashion and apparel brands, in its 1H results reported revenue was down 4.8% to £20m, while pre-tax losses from continuing operations narrowed. Scott bought the shares through Kestrel Partners, of which he is a partner. Kestrel indirectly holds voting rights over 11.6m shares in the company, which represents 25.9% of K3’s issued share capital. At close of trading yesterday, the stock was priced at 115.5p, a return of -34.6% YTD and -34.7% over 12 months.
Seeing Machines Limited LON:SEE, the driver monitoring and transport safety technology company, has confirmed that non-executive director Michael Brown, through Lombard Odier Asset Management (Europe) Ltd, for which he works as an investment manager, last week bought 134.2m ordinary shares at 5.5p per share and on the same day sold 207.2m ordinary shares at the same price. Lombard described the trades as a “reorganisation” of certain funds managed by LOAME following the recent investment in the company by Magna International, stating it remains “extremely supportive of (SEE) and its prospects” and that “it has no intention of reducing its holding in Seeing Machines in the foreseeable future”. At close of trading yesterday, the stock was priced at 6.9p, a return of -34.7% YTD and -38.5% over 12 months.
Wizz Air Holdings LON:WIZZ non-executive director Charlotte Andsager has bought 4,000 shares at 2,277p for £91,080. Earlier this month, Wizz Air, which claims to be the fastest-growing European airline, and to have the lowest CO2 emissions per passenger kilometre in Europe, was named at the CAPA Environmental Sustainability Awards for Excellence in Singapore as the most environmentally sustainable airline in the world. At close of trading yesterday, the stock was priced at 2,367p, a return of -43.5% YTD and -50.4% over 12 months.
