Jens Montanana, the chief executive of South Africa-based IT services provider Datatec Ltd, has been buying shares ahead of them going ex-dividend today (5 July).
The capital distribution has been set by AIM-quoted and JSE-listed Datatec at 12 cents a share, which is equivalent to around 8p a share - although the final figure in pence will not be set until the closing exchange rate on 7 July.
Montanana bought 20,000 shares at 238.62p each on 1 July, following on from 30,000 shares acquired at 253.92p a share on 30 June. These two purchases, the most recent of which was announced today, cost nearly £124,000. Montanana will receive a dividend of around £4,000 on these shares.
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Montanana owns 12,945,935 shares, roughly 7% of Datatec, so the total dividend will come to around £1m.
Datatec had net cash of $186m at the end of March 2010, which is equivalent to more than one-quarter of Datatec's market value at 240.75p a share.
Revenues dipped from $4.19bn to $3.74bn in the year to March 2010, while underlying earnings per share fell from 33.1 cents to 30.3 cents. This masks a strong recovery in the second half.
Top Director Buys
The Conygar Investment Company (CIC) Director name: Mr Robert T E WareAmount purchased: 210,000 @ 105.00p Value: £220,500
Datatec Ltd. (DI) (DTC) Director name: Mr Jens P MontananaAmount purchased: 20,000 @ 238.62p Value: £47,724
Clarity Commerce Solutions (CCS) Director name: Mr Colin WellsAmount purchased: 65,500 @ 38.19p Value: £25,014
Clarity Commerce Solutions (CCS) Director name: Mr David J BennettAmount purchased: 42,000 @ 38.00p Value: £15,960
Mouchel Group (MCHL) Director name: Mr Ian KnightAmount purchased: 10,000 @ 135.00p Value: £13,500
easyJet (EZJ) Director name: Mr Sir Michael RakeAmount purchased: 3,100 @ 396.10p Value: £12,279
Gleeson (M J) Group (GLE) Director name: Mr Jolyon HarrisonAmount purchased: 10,000 @ 109.00p Value: £10,900
Top Director Sells
Aveva Group (AVV) Director name: Mr Richard LongdonAmount sold: 5,697 @ 1,145.00p Value: £65,231
Aveva Group (AVV) Director name: Mr Richard LongdonAmount sold: 4,185 @ 1,145.00p Value: £47,918
Aveva Group (AVV) Director name: Mr Richard LongdonAmount sold: 3,831 @ 1,145.00p Value: £43,865
Aveva Group (AVV) Director name: Mr Paul R TaylorAmount sold: 3,676 @ 1,145.00p Value: £42,090
Aveva Group (AVV) Director name: Mr Paul R TaylorAmount sold: 2,700 @ 1,145.00p Value: £30,915
Aveva Group (AVV) Director name: Mr Paul R TaylorAmount sold: 2,472 @ 1,145.00p Value: £28,304
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