James Peters, Deputy Chairman of XP Power, the power controller manufacturer, has purchased 7,000 shares less than a week after the firm cautioned over its revenues.
Peters, who founded XP in 1988, bought the shares for 1100p. The £77,000 transaction takes Peters' stake in the firm to 2,178,254 shares, equivalent to 11.32%.
On April 12th the company announced that group revenues in the three months to March 31st declined by 10% over the same period in 2011, with the weakness most evident in the industrial sector. In constant currency the decline was 11%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Since the announcement, David Hempleman-Adams, a Non-Executive Director, has also snapped up shares, purchasing a total of 9,450 shares at an average price of 1,059.595p.
He had not previously owned shares in the company.
The share price, which has lost 527p over the past year, has risen 9.6%, equal to 100p, in the last week.
Top Director Buys
SVG Capital (SVI)
Director name: Mr Lynn Fordham
Amount purchased: 14,698 @ 292.60p
Value: £43,006
Quadnetics Group (QDG)
Director name: Mr John Shepherd
Amount purchased: 13,800 @ 290.00p
Value: £40,020
Oxus Gold (OXS)
Director name: Mr Oliver Prior
Amount purchased: 131,138 @ 12.80p
Value: £16,786
Bullabulling Gold Limited (DI) (BGL)
Director name: Dr Jeffrey Francis Anthony Malaihollo
Amount purchased: 75,000 @ 18.70p
Value: £14,025
Top Director Sells
Ashley (Laura) Holding (ALY)
Director name: Mr David W Masters
Amount sold: 406,250 @ 23.50p
Value: £95,469
NR
