Cable and Wireless Comms Chief stocks up

Tony Rice, the Chief Executive Officer of Cable and Wireless Commnutications, has bought up a chunk of shares in the firm, taking advantage of the stock's ongoing decreased share price.

Rice, who last year earned $1.08m in a basic pay, cash bonuses of $466,000, and $2.6m from the firm's five-year LTIP plan, bought 2.5m shares at 32.85p each for a total of £821,250.

Shares in the FTSE 250 company have fallen over 36% in the past year, over 10% in the past month and 4.5% in a week.

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Just one month ago the firm warned on its profits, bringing its revival to an abrupt halt.

Speaking at the time, Rice acknowledged the problems, but drew attention to the company's debt position, saying: "Through the refinancing of the bank facilities and the issuing of $400m of bonds, we have raised sufficient financing to meet our expected needs through to 2016."

Top Director Buys

Cable & Wireless Communications (CWC)

Director name: Mr William Anthony Rice

Amount purchased: 2,500,000 @ 32.85p

Value: £821,250

CLS Holdings (CLI)

Director name: Mr Sten A Mortstedt

Amount purchased: 30,000 @ 625.50p

Value: £187,650

Microgen (MCGN)

Director name: Mr Peter Whiting

Amount purchased: 24,000 @ 145.00p

Value: £34,800

Top Director Sells

John Menzies (MNZS)

Director name: Mr Paul B Dollman

Amount sold: 272,000 @ 575.00p

Value: £1,564,000

John Menzies (MNZS)

Director name: Mr Craig Smyth

Amount sold: 272,000 @ 575.00p

Value: £1,564,000

Bunzl (BNZL)

Director name: Mr Brian May

Amount sold: 157,201 @ 991.00p

Value: £1,557,862

John Menzies (MNZS)

Director name: Mr David McIntosh

Amount sold: 209,387 @ 575.00p

Value: £1,203,975

Rolls-Royce Holdings (RR.)

Director name: Mr John Rishton

Amount sold: 103,828 @ 827.50p

Value: £859,177

Galliford Try (GFRD)

Director name: Mr Greg Fitzgerald

Amount sold: 134,407 @ 602.00p

Value: £809,130

Bunzl (BNZL)

Director name: Mr Paul Nicholas Hussey

Amount sold: 61,500 @ 990.25p

Value: £609,004

John Menzies (MNZS)

Director name: Mr Paul B Dollman

Amount sold: 100,000 @ 575.00p

Value: £575,000

Galliford Try (GFRD)

Director name: Mr Frank Nelson

Amount sold: 88,284 @ 602.00p

Value: £531,470

Galliford Try (GFRD)

Director name: Mr Ken Gillespie

Amount sold: 87,718 @ 602.00p

Value: £528,062

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