Fairpoint non-executive chairman Matthew Peacock has added to his interest in the debt management business formerly known as Debt Free Direct.
Peacock is a partner in Hanover Investors Management and Hanover Investors Management (Cayman) has acquired 181,720 shares at 55p a share. This takes the total shareholding interests relating to Peacock to 24.53%. This is by far the largest stake in the company. Goldman Sachs is the next biggest shareholder with 7%.
Peacock has been adding to his interest in Fairpoint throughout the year. He has bought an additional 423,907 shares in 2009, prior to this latest purchase. The buying prices range from 48.5p a share to 61p a share.
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Fairpoint's interim figures showed a swing from a loss of £1.17m to a profit of £2.18m. Revenues were flat at £13.8m in the six months to June 2009. Analysts forecast a full year profit of around £6m. The shares are trading on less than six times prospective 2009 earnings.
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