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Director Deals: ITM Power, Inchcape, Agronomics


We take a look at directors buying and selling shares in their own company in our weekly column.

  • Three ITM Power directors buy 63,233 shares
  • Non-exec buys 15,000 Inchcape shares
  • Director buys shares in Agronomics
  • CentralNic non-exec buys 18,000 shares

Here’s why Director Dealings can play an important role in stock-picking

Three ITM Power directors buy 63,233 shares

Three ITM Power [LON:ITM] Directors have purchased a total of 63,233 shares in the company. CEO Dennis Schulz has purchased 24,460 shares in two transactions, 11,100 shares at €0.89 for €9,894.54 and 13,360 shares at 74.86p for a total cost of £10,001. In addition, Andrew Allen, Chief Financial Officer has purchased 18,872 shares at 79.48p for a total consideration of £14,999. Dr Simon Bourne, Chief Technology Officer has also purchased 19,901 shares at a price of 75.37p for a total consideration of £14,999.

The AIM-listed clean energy business has outlined its strategic priorities for the next 12 months to make it “a more reliable, professionalised and industrialised company.” This follows on from an announcement earlier this month that the company has signed an agreement to increase the power supply to its Bessemer Park location by 300%, to facilitate increased product testing. Whilst delivery of this won’t happen until the end of next year, it is seen as a critical step in removing bottlenecks from manufacturing and allowing production to be scaled.

At the time of writing, shares were trading at 71.26p, down 26% for the year to date and -79% over the last 12 months.

Non-exec buys Inchcape shares

Inchcape [LON:INCH] Non-Executive Director, Byron Grote has purchased 15,000 shares at a price of 724p per share for a total consideration of £108,600. This follows the release of final results last week by the automotive distributor which saw organic revenue rise 15 per cent, and adjusted profit before tax up by 50 per cent. The business is moving away from Retail to the more profitable Distribution division, selling its profitable Russian division and recently purchased Derco, Latin America’s largest independent automotive distributor in a £1.3bn deal.

Shares were trading at 703.22p, down 16% for the year to date and +1% over the last 12 months.

Director buys shares in Agronomics

Agronomics [LON:ANIC] Director, Jim Mellon has purchased 666,001 shares at an average price of 10.49p on 27 March for a total consideration of £69,863. This is in addition to a purchase of 50,000 ordinary shares at 10p per share on the same day for a total consideration of £5,000. The cellular agriculture business is uniquely positioned, seeking to secure minority stakes in companies owning technologies with defensible intellectual property that offer new ways of producing food and materials, with a focus on products historically derived from animals. Members of the leadership team will be featuring at the Master Investor Show next month and Jim Mellon will be presenting at the event. We spoke with Tim Corcoran on the Podcast recently to find out more.

The Master Investor Show: Saturday 15th April 2023, Business Design Centre, London. Doors open at 9.15. Register here using the code ARMCHAIR for your free ticket.

Shares were trading at 10.85p, down 10% for the year to date and -48% over the last 12 months.

CentralNic non-exec buys shares

CentralNic [LON:CNIC] non-executive director Max Royde has purchased on 24 March 18,000 shares at an average price of 133.5833 pence per share for a total cost of £24,045 through Kestrel Opportunities, a company Mr Royde has a beneficial interest in. Earlier this month, the global internet company that derives recurring revenue from privacy-safe, online marketing as well as domain name distribution, announced that it has been recognised as one of the fastest-growing companies in Europe for a second successive year, following the Financial Times’ seventh annual FT 1000 report

CentralNic shares were trading at 134.50p at the time of writing, down 14% this year and +7.6% over the last 12 months.

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This article does not constitute investment advice. Do your own research or consult a professional advisor.

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