PSG stake buy prompts offer
A round-up of the biggest director buys today so far.
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.
The shares have now doubled from 10.5p in the last five weeks to their highest since last November.
Subscribe to 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
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
University tuition fees will rise to £9,535 next year – what does it mean for you?
The tuition fee hike has angered many students, not to mention their parents and grandparents who often help with financial support. But will it make a difference to how much you repay in the long run?
By Katie Williams Published
-
Will platinum and palladium rise?
Analysis Platinum and palladium have lagged gold and silver recently, but the outlook is improving. Should you invest?
By David J. Stevenson Published