Peter Stephens, the chairman of oil exploration data services provider GETECH Group, has bought shares for the fourth time in four months.
Yesterday, AIM-quoted GETECH said trading continues to recover in the second half. Management expects to report an operating profit in the six months to July 2010 but there will still be a loss for the year as a whole.
Stephens has been buying shares since the interim figures were released at the end of March. The latest purchase of 375,000 shares at 11p a share was larger than the previous three purchases put together. It cost £41,250.
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The purchase heappened today and the GETECH share price has slumped 5.5p to 13.5p. That is a 23% decline for the week as a whole. Stephens was able to acquire the shares at 11p each even though the bid/offer spread at the time was 17p/21p - it has since fallen to 12p/15p.
Stephens has previously acquired 70,000 shares at prices between 11p and 15p a share. He owns 1.448m shares in GETECH. That is equivalent to 4.95% of the company.
Top Director Buys
Centrica (CNA) Director name: Mr Paul A RaynerAmount purchased: 30,000 @ 305.70p Value: £91,710
Whitbread (WTB) Director name: Mr Richard Baker Amount purchased: 3,478 @ 1,438.79p Value: £50,041
GETECH Group (GTC) Director name: Mr Peter StephensAmount purchased: 375,000 @ 11.00p Value: £41,250
Ebiquity (EBQ) Director name: Mr Richard NicholsAmount purchased: 65,000 @ 61.00p Value: £39,650
Leo Insurance Services (LEO) Director name: Mr Stanley H DavisAmount purchased: 719,190 @ 2.25p Value: £16,182
Value and Income Trust (VIN) Director name: Mr David SmithAmount purchased: 9,558 @ 158.75p Value: £15,173
Leo Insurance Services (LEO) Director name: Mr Ronald Neil SinclairAmount purchased: 450,000 @ 2.25p Value: £10,125
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