CPP non-executive director Peter Morgan has bought back all the shares he sold in June.
The repurchase of 51,696 shares comes the day after the identity theft and credit card insurer released its interim management statement for the period since the end of June 2010.
Morgan sold the shares for 275p each in June and he has paid exactly the same price to buy them back. The share price is trading below the buying price. The deal is worth just over £142,000.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
The imminent increase in the rate of capital gains tax may have been on Morgan's mind when he decided to sell in June.
CPP said group revenue in the first nine months of 2010 rose 10% after robust demand in the UK offset sluggish business in southern Europe.
Top Director Buys
CPP Group (CPP) Director name: Mr Peter John MorganAmount purchased: 51,696 @ 275.00p Value: £142,164
Asian Plantation Ltd. (DI) (PALM) Director name: Mr Dennis MelkaAmount purchased: 75,000 @ 125.00p Value: £93,750
Asian Plantation Ltd. (DI) (PALM) Director name: Mr Graeme BrownAmount purchased: 75,000 @ 125.00p Value: £93,750
AstraZeneca (AZN) Director name: Mr Louis SchweitzerAmount purchased: 2,460 @ 3,137.00p Value: £77,170
PureCircle Ltd. (DI) (PURE) Director name: Mr Paul E Selway-SwiftAmount purchased: 40,000 @ 131.75p Value: £52,700
Rugby Estates (RES) Director name: Mr John JacksonAmount purchased: 10,000 @ 328.00p Value: £32,800
Pochin's (PCH) Director name: Mr Michael ChadwickAmount purchased: 15,000 @ 70.00p Value: £10,500
Survive a financial nuclear winter
The “cockroach portfolio” is as hardy as the indestructible insect it is named after, says Dominic Frisby
By Dominic Frisby Published
NatWest-owned Ulster bank boosts easy access savings rate to 5.2%
Rates on easy access savings accounts have hit over 5%, with Ulster Bank now giving savers the chance to earn 5.2% on their cash savings. We have all the details.
By Marc Shoffman Published