Halfords chairman Dennis Millard has increased his holding in the company on the same day the bicycle and car part retailer announced the acquisition of Nationwide Autocentres, a chain of car servicing and repair garages.
He bought 15,000 shares at 431p a time, paying £43,100 and lifting his shareholding to 25,000 shares.
Millard is relatively new to his current position, having joined the company in May. The shares have risen sharply since he bought his first tranche of shares in the firm, taking 10,000 at 310.2p a time soon after taking up the post.
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
Aside from his post at Halfords he is a non executive director of department store Debenhams, electronic components distributor Premier Farnell and business services group Xchanging.
His latest share purchase, which was announced today, was made on Friday, the same day Halfords announced the Nationwide purchase.
Halfords is paying £73.2m in cash for Nationwide, which has 224 outlets across the UK.
Nationwide will be rebranded as Halfords Autocentres. Halfords intends to boost the size of the chain by a further 200 centres over the next few years.
David Wild, chief executive of Halfords, described the expansion into this market as a 'logical move' for Halfords, which already provides a fitting service at some of its stores.
Top Director Buys
Halfords Group (HFD) Director name: Mr Dennis H MillardAmount purchased: 10,000 @ 431.00p Value: £43,100
London & St lawrence Inv Co. (LSLI) Director name: Mr Alan MaidmentAmount purchased: 8,150 @ 234.00p Value: £19,071
Top Director Sells
Rockhopper Exploration (RKH) Director name: Mr Richard Faras VisickAmount sold: 3,855,296 @ 66.36p Value: £2,558,374
Investec (INVP) Director name: Mr David MillerAmount sold: 18,750 @ 455.00p Value: £85,312
BATM Advanced (BVC) Director name: Mr Koti GavishAmount sold: 111,370 @ 41.25p Value: £45,940
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
