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Director Deals: Synthomer, Carnival, Europa Oil & Gas

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

  • Non Exec buys shares in Synthomer
  • Carnival Director buys shares
  • Europa Oil & Gas CEO buys shares

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

Non Exec buys shares in Synthomer

Sythomer [LON:SYNT] Non Executive Director, Holly Van Deursen has purchased 10,000 shares at a price of 185p for a total consideration of £18,500.

The Essex based chemicals company has been trying to refill its coffers this year and recently completed its GBP276m rights issue representing approximately 7.4% of the total number shares. Now truly a penny-stock, but admitting it has a problem, it has initiated a corporate restructuring, giving itself a bit of short-term breathing room and relief from its debt obligations which may help the business get back on track.

Synthomer shares were trading at 178.43p at the time of writing, down 83% this year and down 76% over the last 12 months.


Carnival Director buys shares

Carnival [LON:CCL] Director, Randall J. Weisenburger has purchased 100,000 shares at a price of $11.50 per share for a total consideration of $1,150,000. It’s been a considerable task to row-back from where it was during the Coronavirus pandemic for the FTSE 350 cruise line operator but given the last set of results in September, it’s done a good job. The company reported net income of USD1.18bn and adjusted earnings of USD2.2bn, which both exceeded previous guidance from June.

Most presciently, third quarter revenues hit an historic high of USD6.9bn with booking volumes for 3Q23 and for the month of September at an elevated level and customer deposits running at USD6.9bn. The company also managed to cut debt by USD4bn.

Carnival shares were trading at $11.42, up 43% this year and up 39% over the last 12 months.

Europa Oil & Gas CEO buys shares

Europa Oil & Gas [LON:EOG] CEO, William Holland purchased 781,767 shares in the company on 23rd October at an aggregate price of 1.198p per share for a total consideration of £9,365.

The AIM listed oil and gas exploration, development and production company published its final results on the same day, reporting stable revenues from operating activities of $6.7 million despite a lower oil price and weaker pound, supported by increased production from its flagship asset, the Wressle oilfield. The company also reported continued progress with the development of the Serenity oil discovery in the Central North Sea alongside its partner i3 Energy [LON:I3E].

Europa Oil & Gas shares were trading at 1.11p today, down 1.7% this year and down 5.9% 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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