Hughes quadruples Restaurant Group stake
A round-up of the biggest director deals today so far.
Restaurant Group non-executive Tony Hughes has invested more than £900,000 in the company.
Hughes has more than quadrupled his stake in the Garfunkels and Chiquito restaurants operator to 400,000 shares He bought 308,524 shares at 294.74p a share. By buying now Hughes will receive the 7.46p a share final dividend on the newly acquired shares in June - just over £23,000 of additional dividend.
At the beginning of January, Hughes bought 81,746 shares at 274.2p each - a cost of £223,000. He previously owned 10,000 shares and he has invested more than £1.13m in the company this year.
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
Hughes has been a non-executive director of Restaurant Group since January 2008. He joined just after leaving Mitchells & Butler, where he was head of the restaurants division between 1995 and 2007. He had previously worked for Whitbread, Devenish and B&Q.
Earlier this month, concessions director Trish Corzine raised £718,000 from a share sale at 295.74p a share. These shares came from the exercise of options and other incentive shares.
Tourists flocking to its Garfunkel's outlets in Central London helped Restaurant Group come though the weather, ash clouds and recession last year in decent shape.
Profits in 2010 rose by 17% to £56.5m, from £48.3m, on revenues up 7% at £466m. Like-for-like sales fell by 1%.
Top Director Buys
Restaurant Group (RTN) Director name: Mr Anthony (Tony) HughesAmount purchased: 308,524 @ 294.74p Value: £909,344
European Goldfields Ltd. (EGU) Director name: Mr Timothy Morgan-WynneAmount purchased: 25,000 @ 726.70p Value: £181,675
European Goldfields Ltd. (EGU) Director name: Mr Martyn KonigAmount purchased: 20,000 @ 727.32p Value: £145,464
Innovise (INNO) Director name: Mr Joseph Robert McKennaAmount purchased: 416,667 @ 40.00p Value: £166,667
F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 145,000 @ 78.25p Value: £113,462
United Business Media Ltd. (UBM) Director name: Mr David LevinAmount purchased: 18,000 @ 580.87p Value: £104,557
BATM Advanced Communications Ltd. (BVC) Director name: Dr Zvi MaromAmount purchased: 450,000 @ 21.00p Value: £94,500
Weir Group (WEIR) Director name: Mr Keith CochraneAmount purchased: 3,685 @ 1,586.27p Value: £58,454
Supergroup (SGP) Director name: Mr Chas HowesAmount purchased: 3,500 @ 1,435.00p Value: £50,225
Weir Group (WEIR) Director name: Mr Lord Smith of KelvinAmount purchased: 3,100 @ 1,559.67p Value: £48,350
Top Director Sells
Intertek Group (ITRK) Director name: Mr Wolfhart HauserAmount sold: 79,344 @ 1,905.60p Value: £1,511,979
HSBC Holdings (HSBA) Director name: Mr Douglas J FlintAmount sold: 43,939 @ 639.06p Value: £280,797
HSBC Holdings (HSBA) Director name: Mr Vincent Hoi Chuen ChengAmount sold: 3,152 @ 639.06p Value: £20,143
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
Banks given additional 72 hours to investigate suspicious payments
New rules will allow banks to pause suspicious payments for longer, giving them time to investigate cases of potential fraud
By Katie Williams Published
-
What financial support can you get if you are suffering with long-term illness?
Health is wealth and more important than any material riches. But too often, long-term illness brings financial worries of its own. What financial support can you get if you are ill?
By Katie Williams Published