PSG Solutions chairman Jonathan Mervis has bought 1.5m shares in the UK's largest private provider of home property searches to conveyancers, forcing a mandatory offer for the remaining shares.
Mervis, who paid 17.125p each for the stake worth £256,500, was joined by non executive director David Holme, buyer of 150,000 shares, and deputy chairman Tweedie Brown who snapped up 60,000, all at the same price.
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Mervis is part of a group, which includes Southwind Limited, Retro Grand, Seraffina Holdings and Groundlinks Limited, that now owns 13.27m shares, or 51.9% of the business. His own stake is 2.84m, or 11.1%.
Southwind, owned by legendary small company investor Bob Morton, has said it's only offering other shareholders 17.125p a share, the highest price paid by the group over the past 12 months, because it has to under City takeover rules.
Top Director Buys
Value: £1,844,685
Value: £256,500
Value: £150,000
Value: £106,020
Value: £49,665
Value: £35,000
Value: £29,601
Value: £25,650
Value: £13,513
Value: £13,513
Top Director Sells
Value: £31,860
Value: £23,580
Value: £15,588
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