Johnson Matthey non-executive director Ian Strachan has substantially lifted his holding in the speciality chemicals firm with the purchase of about £50,000 worth of shares.
He bought 5,800 shares at 857p and now has 6,800 shares.
Strachan, 65, was appointed to his role at Johnson Matthey in 2002. He is also a non-executive director at diversified mining company Xstrata and the engine manufacturer Rolls Royce.
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
He has previously been a deputy chief executive of mining giant Rio Tinto.
Johnson Matthey has three divisions: Precious Metal Products; Fine Chemicals and Catalysts; and Environmental Technologies.
It is particularly associated with platinum and is the world's leading distributor of the precious metal. Its share price is closely correlated to that of platinum.
The company's market capitalisation is down by more than 50% over the year, reflecting an even sharper fall in platinum's value.
Top Director Buys
Value: £1,428,370
Value: $1,034,000
Value: £90,000
Value: $80,000
Value: £50,120
Value: £49,706
Value: £35,294
Value: £14,900
Value: £10,500
Value: £10,275
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
-
What does Rachel Reeves’s plan for growth mean for UK investors?Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
