CPP non-exec buys back shares

published 29 October 2010

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.

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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.

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