North Atlantic non-exec buys big

The independent non-executive director of North Atlantic Smaller Companies Investment Trust, Enrique Foster Gittes, has purchased his first stake in the company - and it was a big one at £947,500.

The seventy-year-old American lawyer bought 100,000 shares at 947.5p per share, taking his total 0.71%.

Gittes, who is also president of Bodega Foster SA in Argentina, has been on the firm's board since 1992, taking up the position of chairman six years later.

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Earlier this week, the group said that its diluted net asset value had dropped 1.8% in the six months to the end of July.

This compared favourably with Standard & Poors Composite Index, which saw a 2% fall.

The post-tax revenue return after tax for the half year saw a loss of £1.16m, lower than than the same period the previous year (2010: £1.88m).

Top Director Buys

North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr E F GittesAmount purchased: 100,000 @ 947.50p Value: £947,500

Lancashire Holdings (LRE) Director name: Mr Neil William McConachieAmount purchased: 50,000 @ 630.00p Value: £315,000

Alterian (ALN) Director name: Mr Heath DaviesAmount purchased: 265,000 @ 74.50p Value: £197,425

Top Director Sells

Bellzone Mining (BZM) Director name: Mr Simon FarrellAmount sold: 816,584 @ 32.20p Value: £262,940

General Electric Co (GEC) Director name: Mr Michael A. NealAmount sold: 8,630 @ €11.16 Value: €96,321

General Electric Co (GEC) Director name: Mr Keith S. SherinAmount sold: 8,630 @ €11.16 Value: €96,321

General Electric Co (GEC) Director name: Mr John G. RiceAmount sold: 8,490 @ €11.16 Value: €94,759

General Electric Co (GEC) Director name: Ms Kathryn CassidyAmount sold: 1,439 @ €11.16 Value: €16,061