Alfredo Villa, chief executive officer of Brainspark, has acquired 2,100,000 ordinary shares for a cash consideration of £2.6m or 125p per share.
"Mr Alfredo Villa has also agreed to convert his entitlement under his 2009 and 2010 salary, into new ordinary shares at a conversion rate of 70p per ordinary share", the statement said. The total amounts due to Villa are £18,750 for 2009 and £150,000 for 2010.
Villa has agreed to subscribe for 241,071 new ordinary shares in lieu of salary.
Try 6 free issues of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Brainspark is an investment company with a primary portfolio in Italy encompassing interactive media, leisure, entertainment and financial services.
Latest Videos FromMoneyWeek
As well as being the CEO of Brainspark, Villa is an independent consultant and private investor in several venture capital companies. He is also a director of Nasdaq-listed Moggle, and founder and director of charity Homes for Hope, which has a 9.2% interest in Brainspark.
Following the acquisition of all shares above, Villa will have a beneficial interest in 5,111,039 ordinary shares, equal to 38.2% of Brainspark's issued share capital.
Top Director Buys
Brainspark (BSP) Director name: Mr Alfredo VillaAmount purchased: 2,100,000 @ 125.00p Value: £2,625,000
Canaccord Financial Inc. (CF.) Director name: Mr Matthew Gaasenbeek Amount purchased: 130,943 @ 564.40p Value: £739,042
Brainspark (BSP) Director name: Mr Alfredo VillaAmount purchased: 241,071 @ 70.00p Value: £168,750
G4S (GFS) Director name: Ms Winnie Kin Wah FokAmount purchased: 20,000 @ 258.20p Value: £51,640
Hikma Pharmaceuticals (HIK) Director name: Dr Ronald L GoodeAmount purchased: 3,700 @ 803.49p Value: £29,729
TR European Growth Trust (TRG) Director name: Mr Robert C H JeensAmount purchased: 10,000 @ 411.12p Value: £41,112
Mouchel Group (MCHL) Director name: Mr Richard RaeAmount purchased: 20,000 @ 83.12p Value: £16,624
Top Director Sells
PetroNeft Resources (PTR) Director name: Mr David SandersAmount sold: 880,000 @ 56.50p Value: £497,200
Pan African Resources (PAF) Director name: Mr Jan Petrus NelsonAmount sold: 2,500,000 @ 8.50p Value: £212,500
