Aortech chiefs keep share deals in-house

Bosses at loss-making medical devices company Aortech International have been dealing shares among themselves, it emerged today.

Non-executive directors Edward McDaid and Gordon Wright both sold 30,000 shares at 130p each, which were snapped up by chief executive Frank Maguire and chairman Jon Pither.

Maguire's purchase of 79,850 shares in total, worth nearly £104,000, takes his stake to just over 81,000, or 1.7% of the company. Pither's acquisition of 15,050 shares opens his account.

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Stuart Rollason, another non-exec, bought 3,000 shares at the same price, boosting his holding to almost 12,000.

In December, Aortech reported a loss before tax of £1.2m for the six months ended 30 September 2008, out from £759,000 the year before.

Its key product, Elast-Eon, is a long-term implantable copolymer, similar to silicon, which is used to make devices such as heart valves.

Top Director Buys

Value: £103,805

Value: £33,821

Value: £30,000

Value: £19,565

Value: £11,760

Value: £17,000

Top Director Sells

Value: £176,610

Value: £121,605

Value: £80,052

Value: £58,102

Value: £39,000

Value: £39,000

Value: £30,000