Logica men increase stakes
Thu 18 Dec 2008
LONDON (SHARECAST) - Bosses at Logica have bulked up their stakes in the IT and business services firm by more than £160,000 following a 60% plunge in the share price since September.
Andrew Green, appointed chief executive in January, picked up nearly 162,000 shares at 61.75p each, costing the 53-year-old over £100,000.
Green, a former board member at BT, now owns 683,363 shares worth over £420,000.
Chairman David Tyler, who joined the company as a non-executive director and joint deputy chairman in July 2007, also chipped in with a £62,000 purchase.
He bought 100,000 shares at 62p a throw to take his interest up to nearly 320,000.
Last week, Logica completed the placing of 135m shares at 67p each to bag about £90.5m. The fundraising follows the renewal of its banking facilities in November, which secured the company €500m of borrowing headroom.
“This represents another step in our plan to ensure Logica has the appropriate financing in place, especially in the context of the severe tightening in debt markets over the last few months,” said Tyler.
Top Director Buys
Cadbury (CBRY)
Director name: Mr H Todd Stitzer
Amount purchased: 150,000 @ 392.00p
Value: £588,000
Standard Life European Private Equity Trust (SEP)
Director name: Mr Simon Edwards
Amount purchased: 125,000 @ 85.00p
Value: £106,250
Logica (LOG)
Director name: Mr Andrew Green
Amount purchased: 161,943 @ 61.80p
Value: £100,081
Johnston Press (JPR)
Director name: Mr Ian M Russell
Amount purchased: 800,000 @ 12.30p
Value: £98,400
Interbulk Group (INB)
Director name: Mr Jim McColl
Amount purchased: 3,500,000 @ 2.30p
Value: £80,500
Imperial Tobacco Group (IMT)
Director name: Mr Gareth Davis
Amount purchased: 4,240 @ 1,655.50p
Value: £70,193
Ukraine Opportunity Trust (UKRO)
Director name: Mr Gordon William Lawson
Amount purchased: 20,000 @ $3.50
Value: $70,000
Interbulk Group (INB)
Director name: Mr Jim McColl
Amount purchased: 2,300,000 @ 2.80p
Value: £64,400
Logica (LOG)
Director name: Mr David A Tyler
Amount purchased: 100,000 @ 62.00p
Value: £62,000
First Property Group (FPO)
Director name: Mr Ben Habib
Amount purchased: 500,000 @ 10.00p
Value: £50,000
Top Director Sells
Imperial Tobacco Group (IMT)
Director name: Mr Gareth Davis
Amount sold: 73,734 @ 1,658.40p
Value: £1,222,805
SABMiller (SAB)
Director name: Mr M I Wyman
Amount sold: 88,857 @ 1,135.60p
Value: £1,009,060
Cadbury (CBRY)
Director name: Mr H Todd Stitzer
Amount sold: 150,000 @ 545.00p
Value: £817,500
Imperial Tobacco Group (IMT)
Director name: Mr Robert Dyrbus
Amount sold: 35,094 @ 1,658.40p
Value: £581,999
Victrex (VCT)
Director name: Mr D R Hummel
Amount sold: 83,914 @ 444.00p
Value: £372,578
Imperial Tobacco Group (IMT)
Director name: Mr Graham Blashill
Amount sold: 16,778 @ 1,658.40p
Value: £278,246
Victrex (VCT)
Director name: Mr Michael Peacock
Amount sold: 41,452 @ 444.00p
Value: £184,047
Imperial Tobacco Group (IMT)
Director name: Ms Alison Cooper
Amount sold: 9,926 @ 1,658.40p
Value: £164,613
Victrex (VCT)
Director name: Mr Tim J Walker
Amount sold: 17,150 @ 444.00p
Value: £76,146
Victrex (VCT)
Director name: Mr B Souder
Amount sold: 16,421 @ 444.00p
Value: £72,909