Directors add to Axis-Shield stakes

Two Axis-Shield directors have added to their stakes in the Anglo-Scandinavian diagnostics company.

Finance director Ronny Hermansen bought 10,000 shares at 264p each, whereas his non-executive colleague Staffan Ek got a better deal and managed to buy his 10,000 shares at 258.31p a share.

Hermansen, who has been finance director since April 2007, owns 103,498 shares and former Roche director Ek 30,000 shares.

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The purchases come less than a fortnight after a third quarter trading statement where Axis-Shield said that it is in a strong position to meet forecasts for 2010. It also said that market conditions are challenging.

Axis-Shield is cautious about next year because of the uncertainty about the 2010-11 flu season and anticipated R&D budget cuts by partners.

An analyst and investor day is being held at Axis-Shield's Oslo factory on 10 November.

A further trading update will be published in the week beginning 10 January.

Top Director Buys

Innovise (INNO) Director name: Mr Tony EdwardsAmount purchased: 800,000 @ 24.50p Value: £196,000

Axis-Shield (ASD) Director name: Mr Ronny HermansenAmount purchased: 10,000 @ 264.00p Value: £26,400

Axis-Shield (ASD) Director name: Mr Staffan EkAmount purchased: 10,000 @ 258.31p Value: £25,831

Filtronic (FTC) Director name: Mr Maura MoynihanAmount purchased: 40,000 @ 38.00p Value: £15,200