New Britain Palm Oil Limited (NBPOL) non executive director Michael St.Clair-George is sitting on a big paper profit after picking up a chunky stake at 145p.
The Australasia-focused palm oil producer surged 20% Friday when it emerged that St.Clair-George paid almost £159,000 for more than 109,000 shares.
He now owns 209,436 shares, which are currently worth 178p each. They fell as low as 138p on Wednesday.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Get 6 issues 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
Last week, the company said palm oil prices are well below the highs seen earlier this year, although it increased production of the oil used for cooking and biofuels.
Production hit a record 240,000 tonnes of crude palm oil and kernel oil in the first nine months of the year, a rise of 5.2% from the same period a year ago.
NBPOL was valued at £362m when it listed on London's main market in December last year, raising £62.5m at 250p a share.
Top Director Buys
New Britain Palm Oil Limited (NBPO)
Director name: Mr Michael St. Clair-George
Amount purchased: 109,436 @ 145.00p
Value: £158,682
Metorex (MTX)
Director name: Mr Alberto Barrenechea
Amount purchased: 475,000 @ 31.00p
Value: £147,250
Roc Oil Company (ROC)
Director name: Mr Sidney J Jansma
Amount purchased: 200,000 @ 22.19p
Value: £44,380
Clipper Ventures (CLV)
Director name: Sir Robin Knox-Johnston
Amount purchased: 1,123,295 @ 7.40p
Value: £83,124
Capital & Regional (CAL)
Director name: Mr Xavier Pullen
Amount purchased: 100,000 @ 49.90p
Value: £49,900
Aberforth Geared Cap & Inc Tst Income (AFHI)
Director name: Mr T Michael Foulkes
Amount purchased: 50,000 @ 97.50p
Value: £48,750
Cape Lambert Iron Ore Ltd. (CLIO)
Director name: Mr Timothy P Turner
Amount purchased: 150,000 @ 8.24p
Value: £12,360
Lipoxen (LPX)
Director name: Sir Brian Richards
Amount purchased: 250,000 @ 11.50p
Value: £28,750
Iofina (IOF)
Director name: Dr Chris E Fay
Amount purchased: 70,000 @ 30.50p
Value: £21,350
Pacific Horizon Trust (PHI)
Director name: Mr Jean Matterson
Amount purchased: 30,000 @ 70.30p
Value: £21,090
Is property investment still as safe as houses? Why golden era could be over
What Santander’s takeover of TSB means for customers
