Rolls-Royce director continues pattern of monthly buys

published 12 October 2011

Non-executive director Iain Conn bought shares in Rolls-Royce in the same week the power systems giant signed a $99.9m contract with the US Navy.

Conn, who was appointed to the board at the start of 2005, purchased 162 shares at 607.5p each, taking his total holding to 19,663 shares.

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According to the US Navy contract, which is valued at $476.91m over five years, Rolls-Royce will provide all maintenance, support, troubleshooting, parts supply and logistics for the engines which power its T-45 training aircraft and the aircraft gas turbine starting system.

The agreement provides comprehensive propulsion services to more than 200 aircraft, operating at four main Naval Air Stations across the US.

The firm's share price stands just 3.5% higher than it did a year ago after taking a sharp dip in August before regaining lost ground.

Conn is also an executive of BP and the chairman of the advisory board of the Imperial College London Tanaka Business School.

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