Directors Deals: CEO trims Addax stake
A round-up of the biggest director deals today so far.
Jean Claude Gandur, President and Chief Executive Officer of Addax Petroleum, offloaded a 100,000 shares in the oil and gas exploration and production company.
The sale raised more than a million pounds as Gandur sold the shares at C$22.45 each, equivalent to £11.71 a share. Following the sale Gandur's stake stands at 5.66m shares, representing about 3.61% of the company's issued share capital.
Earlier this week the company announced the acquisition of a one-third interest in the Sangaw North Production Sharing Contract, a project operated by Sterlign Energy and located some 80km south-east of Addax's Taq Taq field in the Kurdistan region of Iraq.
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"Given our successful drilling campaign at Taq Taq, we intend to assist our partner to expedite exploration drilling," said Gandur. "We believe that exploration success at Sangaw North would offer attractive synergies with the development of Taq Taq for the benefit of all the people of Iraq and our shareholders," he added.
Top Director Buys
Cape Lambert Iron Ore (CLIO)
Director name: Mr Anthony W P Sage
Amount purchased: 1,000,000 @ 15.86p
Value: £158,600
Amec (AMEC)
Director name: Mr Samir Briko
Amount purchased: 50,000 @ 497.10p
Value: £248,550
Dana Petroleum (DNX)
Director name: Dr Stuart M Paton
Amount purchased: 9,179 @ 894.00p
Value: £82,060
Xstrata (XTA)
Director name: Mr Claude Lamoureux
Amount purchased: 4,000 @ 1,378.00p
Value: £55,120
Dowgate Capital (DGT)
Director name: Mr Dru Edmonstone
Amount purchased: 750,000 @ 7.00p
Value: £52,500
IG Group Holdings (IGG)
Director name: Sir Alan Budd
Amount purchased: 10,771 @ 278.50p
Value: £29,997
NETeller (NLR)
Director name: Mr Ron Martin
Amount purchased: 50,000 @ 50.00p
Value: £25,000
JPMorgan Indian Inv Trus (JII)
Director name: Mr Hugh W Bolland
Amount purchased: 10,000 @ 234.50p
Value: £23,450
ClearSpeed Technology (CSD)
Director name: Mr Richard B Farleigh
Amount purchased: 200,000 @ 9.00p
Value: £18,000
Geopark (GPK)
Director name: Mr Gerald E O'Shaughnessy
Amount purchased: 5,000 @ 332.50p
Value: £16,625
Top Director Sells
Addax Petroleum (AXC)
Director name: Mr Jean Claude Gandur
Amount sold: 100,000 @ 1,170.99p
Value: £1,170,990
Xchanging (XCH)
Director name: Mr Gary Whitaker
Amount sold: 45,000 @ 248.00p
Value: £111,600
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