Chairman's wife buys Redrow shares

Redrow chairman Steve Morgan's wife has bought 100,000 shares in the housebuilder taking their combined stake to 29.95%.

Fiona Morgan paid 131.5p a share for the 100,000 shares. The total cost was £131,500.

Morgan founded Redrow in 1974 and floated the company 20 years later. He also owns Wolverhampton Wanderers Football Club, whose squad includes former Gillingham FC winger Matt Jarvis.

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Last week, Redrow reported a 25% increase in interim revenues to £187.2m. The reported loss fell by 81% to £8.7m in the six months to December 2009.

Last autumn, Redrow raised £150m from a 13-for-14 rights issue at 105p a share. Net debt was £49.3m at the end of 2009. The net asset value is 141p a share.

Redrow says it has the appropriate capital structure in place but the market remains fragile.

Top Director Buys

Redrow (RDW) Director name: Mr Steve MorganAmount purchased: 100,000 @ 131.50p Value: £131,500

Informa (INF) Director name: Mr Adam WalkerAmount purchased: 22,000 @ 350.89p Value: £77,196

WSP Group (WSH) Director name: Mr Peter R GillAmount purchased: 24,833 @ 279.78p Value: £69,478

Education Development International (EDD) Director name: Mr Richard PriceAmount purchased: 50,000 @ 136.00p Value: £68,000

Absolute Return Trust GBP Shares (ABR) Director name: Mr Robin RumbollAmount purchased: 25,000 @ 119.00p Value: £29,750

e-Therapeutics (ETX) Director name: Mr John CordinerAmount purchased: 67,376 @ 40.50p Value: £27,287

Goals Soccer Centres (GOAL) Director name: Mr Graham WilsonAmount purchased: 10,000 @ 150.00p Value: £15,000

RM Group (RM.) Director name: Mr Rob SirsAmount purchased: 8,194 @ 173.25p Value: £14,196

Brewin Dolphin (BRW) Director name: Mr Jamie MathesonAmount purchased: 11,379 @ 121.00p Value: £13,769

Brit Insurance Holdings NV (BRE) Director name: Mr Kenneth CulleyAmount purchased: 1,647 @ 739.13p Value: £12,173

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Diageo (DGE) Director name: Mr Paul S WalshAmount sold: 99,000 @ 1,088.00p Value: £1,077,120

Rio Tinto (RIO) Director name: Mr Guy R ElliottAmount sold: 19,495 @ 3,460.00p Value: £674,527

Intercede Group (IGP) Director name: Mr Richard Arthur ParrisAmount sold: 1,000,000 @ 42.50p Value: £425,000

Carnival (CCL) Director name: Mr Peter RatcliffeAmount sold: 11,465 @ 2,262.58p Value: £259,405

Education Development International (EDD) Director name: Sir Bryan NicholsonAmount sold: 250,000 @ 136.00p Value: £340,000

RSA Insurance Group (RSA) Director name: Mr George CulmerAmount sold: 211,883 @ 128.07p Value: £271,359

Rathbone Brothers (RAT) Director name: Mr Richard P LanyonAmount sold: 20,000 @ 825.00p Value: £165,000

Bunzl (BNZL) Director name: Mr Patrick LarmonAmount sold: 23,504 @ 691.11p Value: £162,438

Bunzl (BNZL) Director name: Mr Brian MayAmount sold: 20,542 @ 691.11p Value: £141,968

Centrica (CNA) Director name: Mr Mark HanafinAmount sold: 41,657 @ 282.30p Value: £117,598