Sten Mortstedt bought 10,000 shares at 590p in property investment firm CLS Holdings where he is executive chairman.
The £59,000 transaction brings Mortstedt's total number of shares in the company to 24,319,079, equivalent to a 53.33% stake in the company.
The 71-year-old established CLS in 1987 and during his time as chairman he has continued to run a number of investments outside of the property arena, which he runs from his house in Switerland.
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 August, the company hailed a robust start to the year after profits jumped by a third in the first half.
The firm, which manages office properties in London, France, Germany and Sweden, said profit before tax for the period was up 32% to £37.1m, with earnings per share up 35% to 69.9p.
In the six months to 30 June 2011, its property portfolio gained 4.5% to £924.8m on a like-for-like basis, of which 2.9% was due to currency movements.
Vacancy rates fell slightly across the portfolio to 4.2%, down from 4.3% at the end of December.
The firm now intends to return £4.4m to shareholders this month by means of a buy-back of 1 in 72 shares at 700 pence per share.
Top Director Buys
CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 10,000 @ 590.00p Value: £59,000
EnQuest (ENQ) Director name: Dr James BuckeeAmount purchased: 50,000 @ 110.20p Value: £55,100
Huntsworth (HNT) Director name: Mr Eugene P. BeardAmount purchased: 47,125 @ 60.90p Value: £28,699
Huntsworth (HNT) Director name: Mr Eugene P. BeardAmount purchased: 30,000 @ 60.84p Value: £18,252
Top Director Sells
Diageo (DGE) Director name: Mr Paul S WalshAmount sold: 16,726 @ 1,247.00p Value: £208,573
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
