Former Goldman Sachs heavy hitter Sion Kearsey has topped up his holding in Sepura following the TETRA radio supplier's interim results on Thursday.
Kearsey, a founding member of Sepura, spent £94,771 on 242,380 shares purchased at 39.10p each.
The purchase takes his direct holding in the company above 14m shares, representing 10.3% of the company's total voting rights. He also has an indirect interest in just over 3m Sepura shares through Kelso Place Asset Management, a private equity firm specialising in acquiring controlling interests in UK based companies.
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
Prior to establishing Kelso Place Kearsey was a managing director of Goldman Sachs International in the Fixed Income, Currencies and Commodities Division. He is a non-executive director of Sepura.
On Thursday, Sepura saw interim profits fall to £4.6m from £5.2m before on flat revenues of £32.8m, though it still managed to pay an interim dividend of 0.42p versus nil last year. The board said the decline in interim pre-tax profits was expected, given the tough comparatives a year before.
"Predicting the exact timing of orders continues to be difficult and this is being exacerbated by the current economic conditions. The board expects full year revenue growth to be modest," said the group.
Top Director Buys
Value: £499,998
Value: £315,000
Value: £195,000
Value: £94,771
Value: £50,600
Value: £49,497
Value: £49,036
Value: £41,600
Value: £38,650
Value: £27,720
Top Director Sells
Value: £600,400
Value: £870,909
Value: £551,575
-
Reeves ‘looks at minimum UK shareholding' in ISA reformOn top of a rumoured £10,000 cash ISA limit, chancellor Rachel Reeves is reportedly considering adding a minimum UK shareholding requirement to the stocks and shares ISA
-
Rightmove: Asking prices rise by 0.3%, but increase is lower than typical for OctoberOctober saw asking prices grow by £1,165 on average, Rightmove says, but the increase is far below the usual autumn bump as the property market braces for next month’s Budget.
