Shaftesbury chief executive Jonathan Lane has invested a further £100,000 in the property investor.
Lane has bought 22,222 shares at 450p each. That takes his stake to 966,233 shares, which is worth £4.3m at the latest purchase price. Lane raised just over £99,000 from the sale of option shares last December.
The property company is focused on London's theatre-land district and in February it said demand for its properties has remained healthy since the end of September.
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
The company said investment activity in London's West End is returning to more normal levels, with Shaftesbury playing its part, having bought properties at a total cost of £30m since October. The group expects a further increase in activity over the next 12 months.
Shaftesbury has tapped £486m of its £575m committed bank facilities. The average all-in cost of its bank debt at 31 January 2011 was 4.62%. Including its £61m of debenture borrowings, the overall cost of debt was 5%.
Top Director Buys
Shaftesbury (SHB) Director name: Mr Jonathan S LaneAmount purchased: 22,222 @ 450.00p Value: £99,999
Diploma (DPLM) Director name: Mr I HendersonAmount purchased: 25,000 @ 276.00p Value: £69,000
Development Securities (DSC) Director name: Mr Sarah BatesAmount purchased: 30,000 @ 203.00p Value: £60,900
SThree (STHR) Director name: Mr Clayton BrendishAmount purchased: 12,000 @ 421.90p Value: £50,628
CPP Group (CPP) Director name: Mr Duncan J McIntyreAmount purchased: 13,340 @ 297.00p Value: £39,620
Xchanging (XCH) Director name: Mr Nigel RichAmount purchased: 50,000 @ 63.73p Value: £31,865
International Ferro Metals Group (IFL) Director name: Mr Terence Vincent Coleman WillsteedAmount purchased: 100,000 @ 23.75p Value: £23,750
Innovation Group (TIG) Director name: Mr Jane HallAmount purchased: 124,924 @ 15.85p Value: £19,800
e-Therapeutics (ETX) Director name: Mr Steve SelfAmount purchased: 50,000 @ 36.50p Value: £18,250
Mediwatch (MDW) Director name: Mr Philip G StimpsonAmount purchased: 550,000 @ 2.60p Value: £14,300
Top Director Sells
-
How to boost your pension pot as 35% of UK over 50s face huge retirement savings gapOver 50s are facing a later life with little to no funds - but there are steps you can take now to boost your pot.
-
Zoopla: House sales fall for first time in two years as buyers wait for Autumn BudgetThe average price of a house in September was £270,000, down £1,000 from August as the housing market’s Christmas slowdown came early, Zoopla says
