Bosses at William Ransom splashed out over £120,000 on shares in the natural healthcare products distributor just days after rebels failed to have them removed.
Chief executive Ivor Harrison took his stake to 4.3m shares, or 5.1% of the company, after spending £91,000 on 1.4m shares at 6.5p each.
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
Entrepreneurs and ex-directors Fred Whitcomb and Steve Quinn had hoped to oust all three, but were voted against at a general meeting on Tuesday despite holding 28% of the shares.
They had argued that the current board does not have "the industry specific experience, skills and knowledge necessary to engineer a trading recovery".
Former Olympic swimmer David Wilkie would have joined the board had the proposal succeeded.
Top Director Buys
Value: £91,000
Value: £49,114
Value: £42,000
Value: £33,360
Value: £14,050
Value: £19,800
Value: £19,100
-
Car finance compensation: FCA warns drivers against using rip off claims firms for share of £18bnThe FCA estimates most eligible motorists will receive around £950 in compensation per agreement – and said they won’t need a claims management company or law firm to access a redress scheme
-
Small UK industrial stocks are hidden gemsOpinion Ed Wielechowski of the Odyssean Investment Trust highlights three of his favourite British small-cap industrial stocks
