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Date: Tuesday 03 Jun 2008

LONDON (ShareCast) - Ennstone non-executive director Eric Gadsden has brought his stake in the building materials supplier close to 1% with the purchase of 1m shares.

He bought the shares and 27.1p each, paying a total of £271,000, and now has more than 4.5m shares or around 0.94% of the company.

Gadsden has been steadily building his stake over the past few months, paying less each time in line with the company’s falling share price. He last took shares in April, paying 30p each for 1m shares.

The previous month, chairman Vaughan McLeod bought 200,000 shares at 27.5p a time, saying he thought the share price was undervalued.

Shares in Ennstone, which operates in the UK, US and Poland, have lost almost half of their value over the past few months, largely due to the company’s exposure to the weak US housing market.


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