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.
Non-executive chairman David Suddens paid 6.55p a share for 150,000 and non-executive director Tim Bridge snapped up 300,000 shares at the same price.
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
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
-
‘Financial strain’ forcing landlords out of buy-to-let sector, industry warnsNews New figures from Rightmove suggest the buy-to-let sector is becoming less attractive to investors, with a record number of previously-rented homes being listed for sale.
-
Should investors fear the “September effect” in stock markets?The first month after the summer holidays can be volatile for stock markets. Are investors right to fear the September effect?
