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.
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
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
-
RICS: Buyer demand and sales surge - but how could the Budget affect the housing market?The Royal Institute of Chartered Surveyors reports a positive shift in the UK property market, but adds that next month’s Budget is “keeping the mood in check”
-
Big houses ‘driving the housing market’ as sellers ‘seek to beat Budget tax rises’, Rightmove data suggestsNews The number of big houses being listed on the property website has gone up by a double-digit percentage across most regions of Great Britain.
