Hammerson directors go shopping

published 10 August 2011

Two senior board members at Hammerson have both bought shares in the shopping centre operator, buying into weakness after a recent plummet in profits. Chief Executive David Atkins made a purchase of 16,000 shares at 404.2p per share, while Terry Duddy, the group's non-excutive director, purchased 20,000 at 405.75p per share. Atkins, who has been part of the company since 1998 and a member of the board since 2003, now has a total of 161,977 shares in the company. He is also on the board of the European Public Real Estate Association and is on the advisory committee of the British Council of Shopping Centres.Following his purchase, Duddy, who was appointed to his role in 2009, now owns 40,000 shares in the company. He is chief executive of Home Retail, the home and merchandise retailer behind the Argos and Homebase brands. Hammerson, which owns the Brent Cross shopping centre in London and Birmingham's Bullring, recently saw its profits plummet by over 40% in the half year ended 30 June, despite higher net rental income. The company saw a significant fall in its share price since announcing the dismal results on 1 August. Top Director BuysF&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 478,568 @ 57.33p Value: £274,363Vectura Group (VEC) Director name: Mr Jack CashmanAmount purchased: 116,232 @ 95.75p Value: £111,292Hammerson (HMSO) Director name: Mr Terry DuddyAmount purchased: 20,000 @ 405.75p Value: £81,150Hammerson (HMSO) Director name: Mr David AtkinsAmount purchased: 16,000 @ 404.20p Value: £64,672Unilever (ULVR) Director name: Sir Malcolm Rifkind MP Amount purchased: 1,500 @ 1,912.00p Value: £28,680Vectura Group (VEC) Director name: Dr Chris BlackwellAmount purchased: 26,666 @ 95.75p Value: £25,533Vectura Group (VEC) Director name: Mr Anne HylandAmount purchased: 26,666 @ 95.75p Value: £25,533Old Mutual (OML) Director name: Mr Roger Marshall Amount purchased: 20,000 @ 110.60p Value: £22,120Grainger (GRI) Director name: Mr Nick Jopling Amount purchased: 20,000 @ 100.91p Value: £20,182Vectura Group (VEC) Director name: Mr Neil W. WarnerAmount purchased: 20,800 @ 95.75p Value: £19,916