Director buys as Asian Citrus reaches new highs
A round-up of the biggest director deals today so far.
Asian Citrus director Pang Yi has bought an initial shareholding in the China-based orange grower.
Pang Yi is the deputy general manager of the Hepu plantation, which is the most fully developed plantation in the group. AIM-quoted Asian Citrus has two main plantations, at Hepu and Xinfeng. It has bought additional land elsewhere and is developing another plantation.
Pang Yi bought 317,000 shares at an average price of HK9.12 (74.91p) a share. The total cost was £237,000.
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
This follows the sale of 60,000 shares at HK$9.34 (75.5p) and 30,000 at $9.25 by executive director Cheung Wai Sun earlier this month. He raised £6.7m from the share sale.
Shares in Asian Citrus have doubled in price in the past year.
Orange sales rose 42% to 61,157 tonnes from 42,977 tonnes in the first half of 2010.
Asian Citrus has bought 92.9% of fruit juice and puree producer Beihai Perfuming Garden Juice for HK$2.04bn (£165m). Beihai produces approximately 60,000 tonnes of purees and fruit juices every year. Asian Citrus has wanted to become involved in these operations for a number of years.
Top Director Buys
Asian Citrus Holding (ACHL) Director name: Mr Pang YiAmount purchased: 317,000 @ 74.91p Value: £237,465
Cavanagh Group (CVH) Director name: Mr Andrew FayAmount purchased: 190,667 @ 45.00p Value: £85,800
Cavanagh Group (CVH) Director name: Mr Simon RedgroveAmount purchased: 190,667 @ 45.00p Value: £85,800
Top Director Sells
Mandarin Orirntal International (Singapore) (MDO) Director name: Mr Terry L StinsonAmount sold: 400,000 @ $1.89 Value: $757,000
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