Optare bosses buy in

Directors at bus maker Optare bought millions of shares in the company at the end of last week, it announced today.

Chairman John Fickling bought nearly 1m shares at 5p a time as did chief executive Jim Sumner. They now have some 2m shares (1.81% of the company) and 1m shares respectively.

Directors Mike Dunn, David Stonehouse and David Maughan also bought sizeable stakes.

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In May Optare reported a loss £12m in 2008 reflecting costs of integrating two new businesses in difficult trading conditions.

Optare has manufacturing facilities in Blackburn and Leeds as well as service centres in West Thurrock near London and Cumbernauld near Glasgow.

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