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.
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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
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