Chairman buys Mitchells & Butlers shares
A round-up of the biggest director deals today so far.
John Lovering, the chairman of pubs group Mitchells & Butlers, has invested nearly £145,000 in the company's shares.
He bought 50,000 shares at 289.5p each. This follows his initial purchase of 100,000 shares at 297.61p a share back in March.
Lovering has been chairman since January. He is a former finance director of Sears and chief operating officer at Tarmac.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
Earlier this month, Mitchells & Butlers sold a portfolio of 333 non-core pubs for £373m in cash to a private equity-backed firm so that it can focus on the informal eating out market. This leaves Mitchells & Butlers with 1,580 restaurants and food-led pubs. It had previously sold its Hollywood Bowl business for £27m.
Panmure Gordon says that the disposals will dilute short-term earnings but the cash will enable the company to expand in its chosen areas.
Top Director Buys
Mitchells & Butlers (MAB) Director name: Mr John D LoveringAmount purchased: 50,000 @ 289.50p Value: £144,750
Anglo American (AAL) Director name: Mr Jack Thompson Amount purchased: 2,500 @ 2,238.38p Value: £55,960
Spirax-Sarco Engineering (SPX) Director name: Mr Michael Edward GibbinAmount purchased: 4,189 @ 1,596.00p Value: £66,856
Xchanging (XCH) Director name: Mr Nigel RichAmount purchased: 50,000 @ 118.89p Value: £59,445
XP Power (XPP) Director name: Mr Larry TraceyAmount purchased: 6,000 @ 735.00p Value: £44,100
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
-
Revolut finally bags a UK banking licence – what's next for the fintech?
Revolut has finally been granted a UK banking licence following three years of negotiations with the regulator
By Kalpana Fitzpatrick Published
-
Could Labour impose a “double death tax” of more than 50%?
Speculation is mounting that capital gains tax will be reformed in the Budget - and one option is to charge bereaved families the tax on top of inheritance tax. We explain how it could work
By Ruth Emery Published