Newly appointed non-executive chairman Sir Roy Gardner has invested nearly £500,000 in social housing repairs group Connaught.
He has bought 158,808 shares at 314.8p a share. He did not own any shares prior to the purchase.
Sir Roy is an ex-chief executive of Centrica and the current chairman of Compass.
Start your trial of MoneyWeek today
Get unparalleled financial insight, analysis and expert opinion you can profit from.
Start your trial
Sign up for MoneyWeek’s free twice-daily newsletter.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.
The arrival of Sir Roy at Connaught prompted Numis to upgrade Connaught from add to buy. One of the main reasons for this was the improved corporate governance promised by the new appointment.
Latest Videos FromMoneyWeek
The departure of Mark Davies as chief executive led to a sharp fall in the Connaught share price earlier this year. Mark Tincknell, who was previously executive chairman, took over as chairman at the time. Tincknell was chief executive when Connaught floated on AIM in 1998.
Tincknell has also been buying but he managed to make his latest acquisition at 308.7p a share. He has invested more than £1m in 335,399 shares. Prior to this, Tincknell made three purchases of 100,000 each since the resignation of Davies. These cost a total of just over £955,000.
There will be an interim management statement in July.
Top Director Buys
Connaught (CNT) Director name: Mr Mark William TincknellAmount purchased: 335,399 @ 308.70p Value: £1,035,377
Connaught (CNT) Director name: Sir Roy A GardnerAmount purchased: 158,808 @ 314.80p Value: £499,928
Banco Santander SA (BNC) Director name: Mr Francisco Luzon LopezAmount purchased: 6,410 @ 672.88p Value: £43,132
Banco Santander SA (BNC) Director name: Mr Francisco Luzon LopezAmount purchased: 6,490 @ 664.25p Value: £43,110
Bovis Homes Group (BVS) Director name: Mr Alastair LyonsAmount purchased: 10,000 @ 391.80p Value: £39,180
Novae Group (NVA) Director name: Mr Laurie AdamsAmount purchased: 10,000 @ 302.50p Value: £30,250
Cobham (COB) Director name: Mr John Devaney Amount purchased: 10,000 @ 244.55p Value: £24,455
Alexon Group (AXN) Director name: Mr John BoyleAmount purchased: 86,317 @ 23.03p Value: £19,879
Alexon Group (AXN) Director name: Mr Jane McNallyAmount purchased: 88,000 @ 22.50p Value: £19,800
Top Director Sells
Soco International (SIA) Director name: Mr Rui C De SousaAmount sold: 15,000 @ 1,610.00p Value: £241,500
