LONDON (ShareCast) - Shares in Cable & Wireless Communications were in demand Monday after it revealed the telecom company’s chief executive Anthony Rice shelled out nearly £1m on shares.

Rice bought 2.5m shares at 37.63p a pop. His latest purchase comes on the back of steady falls in the company’s share price following its full-year results last month.

The first year of independence saw earnings remain virtually static, largely as a result of a more difficult Caribbean market than the telecoms group expected at the time of its demerger from Cable & Wireless.

Group revenue in the year ended 31 March rose 4% to $2,440m from $2,346m the year before. Earnings before interest, tax, depreciation and amortisation (EBITDA) edged up 1% to $872m from $866m the year before, while profit before tax jumped 21% to $462m from $383m.

Soon after the results, Rice bought 500,000 shares at between 43p and 45p a time, but that failed to stop the shares sliding to the price he paid for his latest purchase.

At 4.10pm, shares in Cable & Wireless Communications were up 5.4% at 39.54p.

Top Director Buys

Cable & Wireless Communications (CWC)
Director name: Mr William Anthony Rice
Amount purchased: 2,500,000 @ 37.63p
Value: £940,750

Filtrona PLC (FLTR)
Director name: Mr Colin R Day
Amount purchased: 50,000 @ 361.40p
Value: £180,700

F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
Amount purchased: 196,012 @ 73.82p
Value: £144,696

United Business Media Ltd. (UBM)
Director name: Mr John C Botts
Amount purchased: 20,000 @ 519.00p
Value: £103,800

Green Dragon Gas Ltd. (DI) (GDG)
Director name: Mr David Turnbull
Amount purchased: 2,000 @ $9.50
Value: $19,000

Qatar Investment Fund (QIF)
Director name: Mr Leonard Joseph O'Brien
Amount purchased: 16,700 @ $0.88
Value: $14,780

Brammer (BRAM)
Director name: Mr Paul Thwaite
Amount purchased: 3,469 @ 303.29p
Value: £10,521

Personal Group Holdings (PGH)
Director name: Mr Ken W Rooney
Amount purchased: 3,626 @ 278.00p
Value: £10,080

Top Director Sells

BrainJuicer Group (BJU)
Director name: Mr Simon Godfrey
Amount sold: 20,000 @ 290.00p
Value: £58,000

Wynnstay Group (WYN)
Director name: Mr B Paul Roberts
Amount sold: 4,000 @ 358.00p
Value: £14,320

Brammer (BRAM)
Director name: Mr Paul Thwaite
Amount sold: 3,582 @ 301.10p
Value: £10,785

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