Hydrodec non-exec buys one million shares

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.

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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.

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Director name: Mr Andrew Black

Amount purchased: 1,000,000 @ 14.38p

Value: £143,700

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Director name: Mr John Allan

Amount purchased: 100,000 @ 14.08p

Value: £14,080

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Director name: Mr Steve C Nicandros

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