New World Resources non-executive director Barry Rourke has sold shares in the European coal miner less than one month after acquiring shares at a higher price.
Rourke sold 30,000 A shares at 736.8p a share, which leaves him with 55,843 A shares. The sale raised £221,000.
On 21 May, Rourke acquired 20,693 A shares at 835.1p each via an employee share scheme.
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Rourke has been a director of NWR since November 2007. NWR was incorporated in the Netherlands in 2005 and listed in London, Warsaw and Prague in 2008. The focus of the business is coal mines in the north east of the Czech Republic, which were privatised in the early 1990s. NWR is the second largest private employer in the Czech Republic.
NWR is expanding into Poland, Ukraine and other parts of central and eastern Europe.
Revenues grew 37% to €329m in the first quarter of 2010. However, a high interest charge meant that the reported loss increased from €50,000 to €13.5m.
Coal markets are recovering with demand from the steel sector improving.
Top Director Buys
Norman Broadbent (NBB) Director name: Mr John BartleAmount purchased: 222,222 @ 45.00p Value: £100,000
Norman Broadbent (NBB) Director name: Mr Andrew GarnerAmount purchased: 177,777 @ 45.00p Value: £80,000
Titan Europe (TSW) Director name: Mr John M A AkersAmount purchased: 100,000 @ 39.50p Value: £39,500
Norman Broadbent (NBB) Director name: Mr Bruce LakefieldAmount purchased: 25,938 @ 45.00p Value: £11,672
Penna Consulting (PNA) Director name: Mr Gary BrowningAmount purchased: 10,000 @ 115.00p Value: £11,500
Frenkel Topping (FEN) Director name: Mr David R SouthworthAmount purchased: 200,000 @ 5.00p Value: £10,000
Top Director Sells
New World Resources (NWR) Director name: Mr Barry RourkeAmount sold: 30,000 @ 736.80p Value: £221,040
PayPoint (PAY) Director name: Mr George EarleAmount sold: 4,132 @ 294.14p Value: £12,154
PayPoint (PAY) Director name: Mr Tim Watkin-ReesAmount sold: 3,450 @ 294.14p Value: £10,148
Frenkel Topping (FEN) Director name: Mr Richard FraserAmount sold: 200,000 @ 5.00p Value: £10,000
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