Hardy director buys after Beazley ends bid talks

Hardy Underwriting Bermuda director Paul Bailie has bought shares following last week's withdrawal of Beazley from bid talks for the insurance underwriter.

Beazley had indicated that it was willing to offer 350p a share for Hardy but the two could not agree on a price. Hardy is thought to have wanted around 400p a share.

Bailie bought 30,000 shares at 275p a share at a total cost of £82,500. His total holding is 41,479 shares.

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Bailie is managing director of the Bermudan operations of Hardy. The whole group was redomiciled from the UK to Bermuda in 2008 but it also has Lloyds of London operations.

Hardy has also bought back 100,000 shares at 275p each.

Top Director Buys

Hardy Underwriting Bermuda Ltd. (DI) (HDU) Director name: Mr Paul BailieAmount purchased: 30,000 @ 275.00p Value: £82,500

Banco Santander SA (BNC) Director name: Mr Francisco Luzon LopezAmount purchased: 6,330 @ 670.68p Value: £42,455

Western & Oriental (WEST) Director name: Mr Rajinder (Raj) Kumar Amount purchased: 2,000,000 @ 1.50p Value: £30,000

MirLand Development Corp. (MLD) Director name: Mr Steven HolmAmount purchased: 9,555 @ 273.00p Value: £26,085

MirLand Development Corp. (MLD) Director name: Mr Steven HolmAmount purchased: 5,800 @ 257.00p Value: £14,906

Top Director Sells

Wolfson Microelectronics (WLF) Director name: Mr David MilneAmount sold: 250,000 @ 290.00p Value: £725,000

Northern Venture Trust (NVT) Director name: Mr Edward Michael P DennyAmount sold: 92,881 @ 78.30p Value: £72,726

Northern Venture Trust (NVT) Director name: Mr John Randolph HustlerAmount sold: 58,793 @ 78.30p Value: £46,035

Northern Venture Trust (NVT) Director name: Mr Ross S PetersAmount sold: 14,442 @ 78.30p Value: £11,308

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