Kofax chairman tops up

The chairman of Kofax's remuneration committee, Chris Conway, has bought £62,500 worth of shares in the company less than a month after it missed expectations for the year.

Kofax, which provides capture driven process automation solutions, reported a 12% increase in total revenues to $243.9m (£151m) in the year ended 30 June, just shy of the $244-246m range the company expected.

Conway, who is also a member of the firm's audit and nomination committees, bought 25,000 shares at 250.00p each.

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He now holds 300,000 ordinary shares representing 0.34% of the issued share capital of the company.

He was appointed to the Kofax board in December 2004, is non-executive chairman of two privately-held technology companies, Artificial Solutions and Web Technology Group.

The firm's most recent results showed level of sales, up from $217m the year before, but it represented 10% organic growth on a constant currency basis, well below the firm's initial target of 14%.

The share price fell 1.2% to 288.75p by 14:40.

Top Director Buys

Kofax (KFX)

Director name: Mr Christopher J Conway

Amount purchased: 25,000 @ 250.00p

Value: £62,500

XG Technology Inc. (Reg S) (XGT)

Director name: Mr George Schmitt

Amount purchased: 35,000 @ $1.39

Value: $48,689

Northern 3 VCT (NTN)

Director name: Mr James Ferguson

Amount purchased: 27,123 @ 93.50p

Value: £25,360

IQE (IQE)

Director name: Mr Adrian Meldrum

Amount purchased: 93,800 @ 26.50p

Value: £24,857

XG Technology Inc. (Reg S) (XGT)

Director name: Mr Mats Wennberg

Amount purchased: 15,000 @ $1.39

Value: $20,867

SABMiller (SAB)

Director name: Mr John A Manzoni

Amount purchased: 591 @ 2,046.89p

Value: £12,097