Rolls Royce non-exec tops up the tank

Iain Conn, a non-executive director at global power systems company Rolls Royce has topped up his stake in the firm.

The director, who joined the board in 2005, bought 325 shares at 792.5p each, in a purchase which follows a month of lucrative contract wins for the firm.

In December the company won a €250m contract to supply safety instrumentation and control systems for the French nuclear reactor modernisation programme.

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Earlier in the month the firm secured a $350m contract from Hawaiian Airlines to deliver Trent 700 engines to power five Airbus A330 aircraft, an announcement which came just days after the firm won new contracts worth up to $650m from deep water driller Petrobras.

On January 2, the company suffered a downgrade by UBS to sell from neutral, while its target price was cut from 610p to 600p.

Top Director Buys

Pacific Alliance Asia Opportunity Fund Ltd. (PAX)

Director name: Mr Christopher M Gradel

Amount purchased: 100,000 @ $1.14

Value: $114,000

Wolseley (WOS)

Director name: Ms Tessa Bamford

Amount purchased: 900 @ 2,109.58p

Value: £18,986

Top Director Sells

Northern 2 VCT (NTV)

Director name: Mr Alistair M Conn

Amount sold: 139,217 @ 74.20p

Value: £103,299

Northern 2 VCT (NTV)

Director name: Mr Frank L G Neale

Amount sold: 43,238 @ 74.20p

Value: £32,083

Northern 2 VCT (NTV)

Director name: Mr Christopher Fletcher

Amount sold: 17,524 @ 74.20p

Value: £13,003

NR