Avanti chairman and non-exec buy
A round-up of the biggest director deals today so far.
Avanti Communications chairman John Brackenbury and non-executive director Alan Foster have upped their holding in the satellite operator.
Earlier today, Avanti announced it is to raise £31.5m through a placing as it revealed revenues and profits this year will be "significantly" ahead of expectations.
Brackenbury spent £22,500 purchasing 10,000 ordinary shares at a price of 225p each. He now holds 426,891 shares or 1.02 % of the company.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
![https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748.jpg](https://cdn.mos.cms.futurecdn.net/flexiimages/mw70aro6gl1676370748-320-80.jpg)
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
Foster and related parties purchased 35,000 ordinary shares at the same price, spending a total of £78,750. He now holds 339,639 Avanti shares.
Avanti said this morning it will issue 14m shares to institutional shareholders at 225p. The cash will help fund the upgrade of the launch service provider for the launch of its HYLAS broadband satellite to Arianespace.
The group has also received a £10.7m grant to help with the upgrade costs from the European Space Agency.
Top Director Buys
Value: £214,560
Value: £78,750
Value: £48,000
Value: £44,958
Value: £33,500
Value: £22,500
Value: £22,500
Value: £19,996
Value: £16,750
Value: £12,366
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
-
Regulator moves to protect access to cash amid branch closures and disappearing ATMs
News The Financial Conduct Authority has told banks to start assessing if local communities have adequate cash access from mid-September
By Marc Shoffman Published
-
VAT hike on private school fees could come earlier than previously expected
The government could start charging VAT on private school fees as soon as January 2025, according to the latest reports. What does it mean for parents?
By Katie Williams Published