Nicholas Gregory, the joint chief executive of real estate investment trust Local Shopping REIT, has followed a colleague in acquiring shares following Tuesday's interim management statement for the four months to January 2010.
Gregory bought 25,000 shares at 62p each today. Joint chief executive Mike Riley bought 25,000 shares yesterday and managed to secure them for 61p each. Both men own 600,000 shares each.
Local Shopping REIT published an adjusted net asset value of 77p a share for the end of September 2009. Management says that it believes that valuations have risen in the subsequent four month period.
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 market value of the portfolio was £174.4m at the end of September 2009, while the annual rent roll was £15.5m. Net debt was £113.7m.
Since September, 10 properties have been sold for £2.41m and seven acquired for £1.56m. The company still has £60m of unused facilities. Local Shopping REIT is talking to banks about helping them with distressed property situations.
Gregory and Riley worked together at Castlemore Securities before setting up Local Shopping REIT in January 2005 and the company floated on 2 May 2007.
Top Director Buys
China Biodiesel International (CBI) Director name: Mr Huodong YeAmount purchased: 860,875 @ 10.00p Value: £86,088
Proactis (PHD) Director name: Mr Alan John AubreyAmount purchased: 215,000 @ 28.00p Value: £60,200
Local Shopping REIT (LSR) Director name: Mr Nicholas GregoryAmount purchased: 25,000 @ 62.00p Value: £15,500
Top Director Sells
ARM Holdings (ARM) Director name: Mr Tim ScoreAmount sold: 423,887 @ 198.07p Value: £839,593
ARM Holdings (ARM) Director name: Mr Warren EastAmount sold: 400,000 @ 198.28p Value: £793,120
ARM Holdings (ARM) Director name: Mr Tim ScoreAmount sold: 320,000 @ 198.84p Value: £636,288
ARM Holdings (ARM) Director name: Mr Warren EastAmount sold: 296,000 @ 198.47p Value: £587,471
ARM Holdings (ARM) Director name: Mr Warren EastAmount sold: 241,434 @ 201.34p Value: £486,103
ARM Holdings (ARM) Director name: Mr Mike InglisAmount sold: 211,095 @ 199.80p Value: £421,768
ARM Holdings (ARM) Director name: Mr Tim ScoreAmount sold: 204,760 @ 201.34p Value: £412,264
ARM Holdings (ARM) Director name: Mr Tim ScoreAmount sold: 200,000 @ 199.26p Value: £398,520
ARM Holdings (ARM) Director name: Mr Graham BuddAmount sold: 194,895 @ 199.00p Value: £387,841
ARM Holdings (ARM) Director name: Mr Tudor BrownAmount sold: 168,087 @ 201.34p Value: £338,426
-
Side hustle tax changes: HMRC reforms could save thousands from filing self-assessment tax returnsThe government plans to raise the tax-free threshold for trading income – here is how it could help your side hustle
-
Return to the office: is working from home coming to an end?More and more employers want their staff to return to the office. Is it a good idea?
