A non-executive director of Hydrodec, the "clean" oil re-refining group, has purchased one million shares in the AIM-listed firm.
Andrew Black bought the shares at 14.38p for a total of £143,700, taking his total number of shares to over 57m.
The purchase came just one day after the firm announced that revenues for 2011 will come in significantly ahead of 2010.
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
Sales of the branded Superfine oil rose 12% in the second half of 2011 versus the first six months of the year, giving some indication of the acceleration the company is currently seeing.
There has been encouraging news from the US where Hydrodec has received a draft approval from the US Environmental Protection Agency (EPA) to treat polychlorinated biphenyl (PCB) contaminated used oil.
There are still some loose ends to tie up with the EPA but the company is confident it will soon become a "one-stop shop" for companies to dispose of their used transformer oil.
Top Director Buys
HydroDec Group (HYR)
Director name: Mr Andrew Black
Amount purchased: 1,000,000 @ 14.38p
Value: £143,700
Thorntons (THT)
Director name: Mr John Von Spreckelsen
Amount purchased: 402,301 @ 19.68p
Value: £79,173
Intercede Group (IGP)
Director name: Mr Richard Arthur Parris
Amount purchased: 67,646 @ 73.50p
Value: £49,720
Braemar Shipping Services (BMS)
Director name: Mr Alan Marsh
Amount purchased: 7,176 @ 338.14p
Value: £24,265
Dixons Retail (DXNS)
Director name: Mr John Allan
Amount purchased: 150,000 @ 13.99p
Value: £20,985
Thorntons (THT)
Director name: Mr Jonathan Hart
Amount purchased: 75,431 @ 19.68p
Value: £14,845
Dixons Retail (DXNS)
Director name: Mr John Allan
Amount purchased: 100,000 @ 14.08p
Value: £14,080
Frontera Resources Corporation (DI) (FRR)
Director name: Mr Steve C Nicandros
Amount purchased: 1,230,000 @ 1.07p
Value: £13,161
Top Director Sells
Starvest (SVE)
Director name: Mr Anthony C R Scutt
Amount sold: 125,000 @ 9.50p
Value: £11,875
