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.
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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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