McKenna's Ingenious discount
A round-up of the biggest director deals today so far.
Non-executive director Patrick McKenna has taken advantage of a large discount to net asset value to snap up 12.6m shares in investment company Ingenious Media Active Capital.
The total cost of the stake was £5.8m. He paid 46p a share compared with a net asset value of 65.6p a share at the end of September 2009 - as reported on 14 December. That buying price is a 30% discount to NAV. The share price hit a low of 18.5p in March.
McKenna owns 25.1% of IMAC. McKenna founded the company's investment manager Ingenious Media in 1988 and prior to that he was chairman and chief executive of Lord Lloyd Webber's company Really Useful Group.
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
IMAC specialises in investing in unquoted media companies. It floated in April 2006 and raised £150m at 100p a share. Investments include TV production companies Whizz Kid Entertainment and digital marketing agency Outside Line. One of its less successful investments has been business publisher Incisive Media.
Top Director Buys
Ingenious Media Active Capital (IMAC) Director name: Mr Patrick Anthony McKennaAmount purchased: 12,600,000 @ 46.00p Value: £5,796,000
F&C Inv Trust (FRCL) Director name: Mr Simon FraserAmount purchased: 30,000 @ 263.30p Value: £78,990
Davis Service Group (DVSG) Director name: Mr Peter VentressAmount purchased: 13,000 @ 391.30p Value: £50,869
Imperial Tobacco Group (IMT) Director name: Mr Gareth DavisAmount purchased: 2,067 @ 1,903.64p Value: £39,348
Monitise (MONI) Director name: Mr Duncan J McIntyreAmount purchased: 250,000 @ 12.87p Value: £32,175
Inland (INL) Director name: Mr Nishith Motilal Meghji MaldeAmount purchased: 187,500 @ 16.00p Value: £30,000
Inland (INL) Director name: Mr Nishith Motilal Meghji MaldeAmount purchased: 187,500 @ 16.00p Value: £30,000
Imperial Tobacco Group (IMT) Director name: Ms Alison CooperAmount purchased: 1,497 @ 1,903.64p Value: £28,497
Imperial Tobacco Group (IMT) Director name: Mr Graham BlashillAmount purchased: 1,359 @ 1,903.64p Value: £25,870
Imperial Tobacco Group (IMT) Director name: Mr Robert DyrbusAmount purchased: 1,247 @ 1,903.64p Value: £23,738
Top Director Sells
Imperial Tobacco Group (IMT) Director name: Mr Gareth DavisAmount sold: 97,461 @ 1,903.64p Value: £1,855,307
Investec (INVP) Director name: Mr Stephen KoseffAmount sold: 310,000 @ 427.00p Value: £1,323,700
Imperial Tobacco Group (IMT) Director name: Mr Robert DyrbusAmount sold: 46,396 @ 1,903.64p Value: £883,213
Whitbread (WTB) Director name: Mr Simon BarrattAmount sold: 42,000 @ 1,380.20p Value: £579,684
Imperial Tobacco Group (IMT) Director name: Mr Graham BlashillAmount sold: 22,760 @ 1,903.64p Value: £433,268
Imperial Tobacco Group (IMT) Director name: Ms Alison CooperAmount sold: 14,881 @ 1,903.64p Value: £283,281
Imperial Tobacco Group (IMT) Director name: Mr Matthew PhillipsAmount sold: 3,337 @ 1,903.64p Value: £63,524
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
8 of the best houses for sale with libraries
This week: the best houses for sale with libraries – from a five-storey Georgian townhouse in Bloomsbury, London, to a 15th-century property with a library in a medieval tower in Lozère, France
By Natasha Langan Published
-
Investors pull money from UK equities as government warns of “painful” Budget
The government’s post-election honeymoon period has been short-lived, and investors are shying away from UK equities as a result
By Katie Williams Published