SABMiller non-executive director Miles Morland has bought back the shares in the brewer he sold in May.
He sold 40,000 shares at £19.29 each on 20 May, raising £771,583. This was the day of the brewer's full year results and just after the UK general election. An emergency budget was arranged for June and a change in capital gains tax was anticipated.
Nearly three months later he has bought 40,000 shares at £19.02 each. That cost £760,800. He has missed out on last year's final dividend of 33.48p a share, which would have generated £13,392 for him.
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Morland has been a director of SABMiller since 1999. He is involved with companies investing in Africa and other emerging markets.
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SABMiller reported improved figures for the year to March 2010 with Latin America driving growth in the company's profits.
Earnings before interest, tax and amortisation increased to $4,381m in the 12 months to 31 March from $4,129m on revenue of $26,350m, up from $25,302m.
Pre-tax profit was $3,803m, up from $3,405m the year before. Total beverage volumes were flat.
The Latin American region reported a 17% increase in earnings before interest, tax and amortisation to $1,386m.
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