Announcing his return to work just six short weeks since taking leave on medical advice, Lloyds boss Antonio Horta-Osorio celebrated his recovery with the purchase of $226,962-worth of shares in the part-nationalised lender.
The director, who was signed off sick with extreme fatigue and sleep deprivation, bought up 150,000 American depositary receipts (ADR), equivalent to 600,000 ordinary shares, at $1.51308, or around 97p, each.
Each ADR represents four ordinary shares, meaning Horta-Osorio paid about 24.25p per share, very close to the prevailing share price in London.
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
In a surprise move, it was decided at a Lloyds board meeting on Wednesday to allow the Portuguese workaholic to return to his post in January, following an independent assessment of his health. When he took leave in early November, the company said he would return to his post by the end of 2011, but there was a large amount of scepticism in City circles over whether he would ever regain his place in the hot seat. Some observers doubted whether he would be able to give up a perceived compulsion to micro-manage.
Since the decision was made, Horta-Osorio has been decribed by the firm as being "upbeat and eager" to get back to the job, while humble about what has happened.
This is his third share purchase this year, and brings his total purchases for 2011 to 900,000 shares.
Land Securities Chief Executive tops up stake in firm
Chief Executive of Land Securities Group, Francis Salway, bought up £198,505-worth of shares in the real estate investment trust.
In November the property giant reported a rise in profits in the first half, driven mainly by increased rental income.
Speaking at the time Salway, 53, said his firm was "alive to the potential effects of economic uncertainty and changeable sentiment in capital markets".
"We have consistently stated that we did not expect to see a straight-line recovery in our market, rather that it would be interspersed with ripples and we see no reason to adjust this outlook," he added.
The director, who joined the group in October 2000 and was appointed to the board a year later, bought the shares at 620.00p each.
The company has lost 6.47% on its share price over the past year and 9.79% in the last month.
Top Director Buys
IndigoVision Group (IND)
Director name: Mr Hamish M Grossart
Amount purchased: 185,000 @ 250.50p
Value: £463,425
Afren (AFR)
Director name: Mr Egbert Imomoh
Amount purchased: 300,000 @ 76.93p
Value: £230,790
Land Securities Group (LAND)
Director name: Mr Francis Salway
Amount purchased: 32,017 @ 620.00p
Value: £198,505
Sinclair Is Pharma (SPH)
Director name: Mr Robert Stuart Swanson
Amount purchased: 318,000 @ 23.23p
Value: £73,871
Sinclair Is Pharma (SPH)
Director name: Mr Robert Stuart Swanson
Amount purchased: 243,538 @ 23.50p
Value: £57,231
Homeserve (HSV)
Director name: Mr J M Barry Gibson
Amount purchased: 17,500 @ 289.00p
Value: £50,575
Sinclair Is Pharma (SPH)
Director name: Mr Robert Stuart Swanson
Amount purchased: 146,283 @ 23.46p
Value: £34,318
IndigoVision Group (IND)
Director name: Mr Marcus Kneen
Amount purchased: 8,000 @ 250.50p
Value: £20,040
Sinclair Is Pharma (SPH)
Director name: Mr Robert Stuart Swanson
Amount purchased: 72,000 @ 23.50p
Value: £16,920
Brooks Macdonald Group (BRK)
Director name: Mr Andrew William Shepherd
Amount purchased: 1,500 @ 1,110.00p
Value: £16,650
Top Director Sells
Bunzl (BNZL)
Director name: Mr Patrick Larmon
Amount sold: 53,200 @ 851.28p
Value: £452,881
May Gurney Integrated Services (MAYG)
Director name: Mr Timothy Ross
Amount sold: 100,000 @ 285.00p
Value: £285,000
-
Cost of Christmas dinner jumps 6.5% as grocery price inflation rises againThe average Christmas dinner for four now costs £32.57 as grocery price inflation increases - but what does it mean for interest rates?
-
Taking control of your business expenses with WallesterWhy Wallester Business is your cost-effective solution to help you take financial control of your business
