RM boss shows his faith with one million shares

Martyn Ratcliffe, Executive Chairman of educational software supplier RM, has bumped up his stake in the firm with the purchase of one million shares.

Ratcliffe bought the shares, which cost him 75.00p each for a total of £750,000, just three days after the company reported falling revenue and profit for the 14 months ended November 30th.

Revenue for the period fell from £380.1m to £350.8m, while adjusted operating profit dropped from £22.6m to £10m. Loss before tax remained stable at £23.4m, compared to £23.9m the previous year. During the period the firm committed a revolving three year bank facility of £30m to replace the old facility.

Subscribe to MoneyWeek

Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Get 6 issues 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

Sign up

Ratcliffe was appointed as the new Executive Chairman in late October, following a strategic and operational review of the firm the previous month.

Ratcliffe replaced Terry Sweeney, who left the company by mutual agreement after 13 years in the role.

Top Director Buys

RM (RM.)

Director name: Mr Martyn Ratcliffe

Amount purchased: 1,000,000 @ 75.00p

Value: £750,000

Bank of America Corp. (BAC)

Director name: Mr Donald E. Powell

Amount purchased: 11,000 @ $7.95

Value: $87,450

Bank of America Corp. (BAC)

Director name: Mr Donald E. Powell

Amount purchased: 7,000 @ $8.09

Value: $56,629

Picton Property Income Ltd (PCTN)

Director name: Mr Trevor Ash

Amount purchased: 50,000 @ 42.89p

Value: £21,445

BT Group (BT.A)

Director name: Mr Patricia Hewitt

Amount purchased: 4,693 @ 213.51p

Value: £10,020

NR