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.
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
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
-
Number of high-earning women jumps 12% – how to convert income into pensionsMore women than ever are paying the highest rate of tax as record numbers succeed in high paying professional roles. But their pension saving still needs to catch up
-
Yoshiaki Murakami: Japan’s original corporate raiderThe originator of Japanese activism, Yoshiaki Murakami, was disgraced by an insider-trading scandal in 2006. Now, he's back, shaking things up
