Chairman-elect Tim Ingram has acquired 250,000 shares in broker Collins Stewart.
Ingram has been a non-exec on the broker's board for 10 weeks and the share purchase at 77.69p a share represents an investment of £194,225. The purchase takes his stake to 285,000 shares.
Ingram takes over as chairman from Terry Smith on 1 April. Ingram has been chief executive of Caledonia Investments since 2002 and prior to that worked at Abbey National and First National Finance Corporation.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
The shares were acquired the day after Collins Stewart released its 2009 figures and announced the purchase of Corazon Capital Group for an initial £1m in shares. There is potential deferred consideration of up to £6m in shares. Corazon managed £382m of assets in Guernsey and Geneva at the end of February 2010. This will enhance the wealth management division of Collins Stewart.
Collins Stewart returned to profit in 2009 despite tough markets after progress at all of its units.
Pre-tax profit came in at £18.4m compared to a pre-tax loss of £15.2m the year before. Revenue increased to £186.4m for the year ended 31 December 2009 from £175.7m previously.
Top Director Buys
Collins Stewart (CLST) Director name: Mr Tim IngramAmount purchased: 250,000 @ 77.69p Value: £194,225
Unilever (ULVR) Director name: Mr Paul PolmanAmount purchased: 9,484 @ 1,944.00p Value: £184,369
Shaftesbury (SHB) Director name: Mr P John ManserAmount purchased: 16,667 @ 375.24p Value: £62,541
Unilever (ULVR) Director name: Professor Genevieve BergerAmount purchased: 2,546 @ 1,944.00p Value: £49,494
Brunner Inv Trust (BUT) Director name: Mr Ian Barlow Amount purchased: 9,000 @ 402.00p Value: £36,180
Centaur Media (CAU) Director name: Mr Robert Boyle Amount purchased: 40,000 @ 51.00p Value: £20,400
Wolseley (WOS) Director name: Mr Ian MeakinsAmount purchased: 1,098 @ 1,576.00p Value: £17,304
Top Director Sells
Petrofac Ltd (PFC) Director name: Mr Ayman AsfariAmount sold: 95,671 @ 1,200.93p Value: £1,148,942
Serco Group (SRP) Director name: Mr Kevin S BeestonAmount sold: 120,798 @ 590.59p Value: £713,421
Petrofac Ltd (PFC) Director name: Ms Keith RobertsAmount sold: 58,465 @ 1,200.93p Value: £702,124
Petrofac Ltd (PFC) Director name: Mr Amjad BseisuAmount sold: 55,807 @ 1,200.93p Value: £670,203
BP (BP.) Director name: Mr Byron E GroteAmount sold: 58,536 @ 638.64p Value: £373,834
Petrofac Ltd (PFC) Director name: Mr Maroun SemaanAmount sold: 45,204 @ 1,200.93p Value: £542,868
Western Coal Corp. (WTN) Director name: Mr John R BrodieAmount sold: 90,000 @ 329.72p Value: £296,748
BP (BP.) Director name: Mr Byron E GroteAmount sold: 17,064 @ 638.43p Value: £108,942
Torotrak (TRK) Director name: Mr Jeremy DeeringAmount sold: 141,672 @ 26.00p Value: £36,835
Hargreaves Lansdown (HL.) Director name: Ms Tracey TaylorAmount sold: 3,450 @ 345.13p Value: £11,907
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
