We take a look at directors buying and selling shares in their own company in our weekly column.
- Non exec Chair buys shares in GSK
- Directors purchase shares in IOG
- Atlantic Lithium Chairman buys shares
- Rentokil Initial non-exec buys ADSs
- Chief Executive Officer buys shares in Centamin
Here’s why Director Dealings can play an important role in stock-picking
Non exec Chair buys shares in GSK
GSK LON:GSK Non Executive Chair, Sir Jonathan Symonds has purchased on 20th March 2,100 shares at a price of 1,398.84p for a total consideration of £29,358.
The FTSE 100 multinational pharmaceutical and biotechnology company delivered strong final results last month and recently announced encouraging results from its phase III data for its Meningococcal vaccine and a positive step toward reducing the incidence of the disease. It has also announced that the China National Medical Products Administration has accepted for review a new drug application for Nucala as an add-on maintenance treatment for severe eosinophilic asthma.
At the time of writing, shares were trading at 1,425.60, down 1.75% for the year to date and -12.7% over the last 12 months.
Directors purchase shares in IOG
IOG LON:IOG directors have purchased 744,180 shares in the company at an average price of 4.525p for a total consideration of £33,671.32. CEO Rupert Newall has purchased 300,000 shares, COO Dougie Scott has purchased 220,355 shares and CFO John Arthur 223,825 shares.
The AIM listed Oil & Gas explorer released final results earlier this month highlighting a number of production issues followed by the very disappointing Southwark A2 well result. The new leadership team is rolling a new operational and financial improvement strategy, seeking to deliver production resilience, reduce costs and maximise cash flow. The purchase of shares by the new directors appears to reflect their committment to the strategy that is in place.
Shares were trading at 4.28p, down 74% this year and -89% over the last 12 months.
Atlantic Lithium Chairman buys shares
Atlantic Lithium LON:ALL Chairman Neil Herbert has purchased on 16th March 1,883,177 shares at an average price of 27.48p for a total consideration of £517,497. In addition, Finance Director, Amanda Harsas bought 571,500 shares at an average price of 26.90p for a total consideration of £153,734.
The AIM listed lithium miner requested a temporary suspension of its shares earlier in the month following allegations of impropriety relating to prospecting licences with operating permits by Blue Orca Capital which the business has subsequently denied. The group has recently announced the commencement of auger drilling at its Ewoyaa Lithium Project in Ghana, West Africa.
Shares were trading at 27.3p, down 28% on the year to date and -30% over the last 12 months.
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Rentokil Initial non-exec buys ADSs
Rentokil Initial LON:RTO Non Executive Director, David Frear, has purchased 500 American Depositary Shares (ADSs) in the Company at a price of US$33.05 per ADS on 17 March 2023 for a total consideration of $16,525. Each ADS is equivalent to five of the Company’s ordinary shares.
The FTSE-100 pest control business released its final results last week showing strong organic revenue growth and margin expansion and highlighting excellent early progress on the integration of its Terminix acquisition whilst raisin gits cost synergy guidance.
Shares were trading at 561p, up 7.61% for the year to date and 10.6% over the last 12 months.
Chief Executive Officer buys shares in Centamin
Centamin LON:CEY Chief Executive Officer Martin Horgan has purchased 99,314 shares in the Company at a price of 100p per share for a consideration of £99,999.
The UK-based gold mining company with operations in Egypt and Ivory Coast published its full-year results last week. Production numbers were mostly green with the amount of Gold sold at 438,638oz, up 8% from the 407,252oz sold in 2021. However, profit after tax fell 29% to USD72.5m and earnings per share fell 29% to 6.29 cents.
Shares were trading at 103.74 at the time of writing, down 9.8% for the year to date and +15.9% over the last 12 months.
