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• Tate & Lyle
• Aberforth Smaller Companies Tst
• Cable & Wireless
• Venture Production

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• Food Producers & Processors
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• Fixed Line Telecommunications
• Equity Investment Instruments

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Date: Tuesday 23 Jan 2007

LONDON (ShareCast) - A shock profit warning from sweetener group Tate & Lyle wiped around £500m from the company’s market cap today.

The group warned that poor demand for its key product Sucralose, an artificial sweetener, would result in full year pre-tax profit coming in modestly below current market expectations.

Shares in the group plunged around 15% on the news, though for two directors it provided an attractive buying opportunity.

Chief executive Iain Ferguson and chief operating officer Stanley Musesengwa both snapped up 16,428 shares at 608p per share, at a cost of £100,000 each.

The transactions increased Ferguson’s stake in Tate & Lyle to 85,000 shares and Musesengwa’s to 94,200.

For Ferguson it marks a continued, albeit rare, strategy following his decision to buy 25,000 shares in June last year and nearly 38,000 shares in May 2005.

The deal marks a u-turn for Musesengwa however, who has been a consistent seller from both his actual holding and through the exercise of options. In total he has sold nearly 329,000 over the last two years.


Top Director Buys

Cable and Wireless (CW.)
Director name: Mr W. Anthony Rice
Amount purchased: 300,000 @ 160.25p
Value: £480,750

Tate & Lyle (TATE)
Director name: Mr Stanley Musesengwa
Amount purchased: 16,428 @ 608.75p
Value: £100,005

Tate & Lyle (TATE)
Director name: Mr Iain Ferguson
Amount purchased: 16,428 @ 608.75p
Value: £100,005

Cable and Wireless (CW.)
Director name: Mr John Pluthero
Amount purchased: 62,402 @ 160.25p
Value: £99,999

Aberforth Smaller Companies Tst (ASL)
Director name: Dr Walter Nimmo
Amount purchased: 1,300 @ 769.44p
Value: £10,003


Top Director Sells

Venture Production (VPC)
Director name: Ms Marie-Louise Clayton
Amount sold: 58,110 @ 744.18p
Value: £432,443

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