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.
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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.
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