Chairman of the Audit Committee at DS Smith, Jonathan Nicholls, has bought £74,366-worth of shares in the recycled packaging firm.
The purchase, which saw the non-executive buy 32,309 shares at 230.17p each, comes less than two weeks after the firm launched an agreed bid for the second largest packaging business in Europe.
The firm will pay €1.6bn (£1.3bn) for SCA Packaging, a Swedish company.
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The purchase will be funded from new and existing debt as well as an underwritten £466m rights issue.
Earlier in the month the company announced it is set to receive a tidy sum as a result of its 49.6% interest in Rubezhansk, the leading paper and packaging business in the Ukraine.
Rubezhansk has completed the signing of a revised five-year loan agreement with its existing lender group and as a result DS Smith will now be recognising its share of the profits and investment in this associate business, in the second half of this financial year.
The stock has gained close to 10% over the year, although has dipped over 1% in the past week.
Top Director Buys
Immunodiagnostic Systems Holdings (IDH)
Director name: Dr Burkhard Wittek
Amount purchased: 43,867 @ 304.66p
Value: £133,645
PureCircle Ltd. (DI) (PURE)
Director name: Mr Olivier Maes
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DS Smith (SMDS)
Director name: Mr Jonathan C Nicholls
Amount purchased: 32,309 @ 230.17p
Value: £74,366
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Sierra Rutile Ltd (SRX)
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Immunodiagnostic Systems Holdings (IDH)
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Immunodiagnostic Systems Holdings (IDH)
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Value: £19,440
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