Inmarsat deputy chairman returns to share register
A round-up of the biggest director deals today so far.
Inmarsat deputy chairman John Rennocks has invested £94,000 in the satellite operator.
Rennocks acquired 14,600 shares at 646.5p each. Rennocks has been on the board since January 2005 but he did not own any shares prior to the purchase. This is because he sold the 43,104 shares he previously owned at 770.57p a share back on 18 May. That raised £332,000 so he has reinvested a fraction of those proceeds.
That disposal appears to have been timed to avoid proposed changes in capital gains tax rates.
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
Inmarsat recently reported its third quarter figures. Total revenue in the three months ended September 2010 rose 19% to $308.8m. Profit before tax was up 38% to $105.4m. Free cash flow more than doubled to $184.6m and net borrowings were $1.17bn at the end of September.
Top Director Buys
Inmarsat (ISAT) Director name: Mr John RennocksAmount purchased: 14,600 @ 646.50p Value: £94,389
Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 157,500 @ $0.60 Value: $94,500
MCB Finance Group (MCRB) Director name: Mr Henry NilertAmount purchased: 600,000 @ 9.19p Value: £55,140
Symphony International Holdings Ltd. (SIHL) Director name: Mr Pierangelo BottinelliAmount purchased: 40,000 @ $0.58 Value: $23,280
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.
-
Higher rates are disappearing – should you fix your savings?
Fixed savings rates have dropped to their lowest levels in over a year. Should you fix your savings now ahead of a potential base rate cut in November?
By Katie Williams Published
-
Nine million people fall victim to financial scams, says Citizens Advice
The charity says that around one in five people across the UK have been caught out by a finance scam in the past year - here is how to protect your money
By Chris Newlands Published