Hydrogen CEO shows confidence in restructuring
The day after recruiter Hydrogen Group published interim results, chief executive Tim Smeaton dipped into the market to top up his holding with 35,000 ordinary shares at a price of 88p.
Conviviality
101.20p
05:30 28/03/18
Hydrogen Group
42.50p
16:55 16/10/20
The £30,800 purchase took Smeaton's beneficial interest in the company to just over 12%.
Tuesday's results were not earth-shattering, being in-line with revised expectations, but were evidence that the restructuring carried out by management was coming through. Heavy investment towards the end of last year has been made across a number of newer disciplines and offices, with the cost base also realigned and expected to see greater impact in the second half.
House broker Shore Capital said: "We are comforted that following the rapid action of management that the company is once again on the right track and coupled with activity levels beginning to pick up, we are relaxed on profitability estimates going forward. We think the valuation remains attractive relative to its peers."
Elsewhere, Diana Hunter, the chief executive of franchised off-licence and convenience chain Conviviality Retail exercised options over 850,000 shares at the super-low price of 2.7p, and sold them all at 160p for a £1.34m profit.
Shares in Conviviality fell 2.5% to 170.50p on the day as a result, standing roughly halfway between their year's high and low.
Hunter, a former Sainburys and Waitrose executive, still holds an interest in 2.8m shares, representing 4.24% stake in the group.
Top Director Buys
Hydrogen Group (HYDG)
Director name: Mr Tim Smeaton
Amount purchased: 35,000 @ 88.00p
Value: £30,800
Kalibrate Technologies (KLBT)
Director name: Mr Neville Davis
Amount purchased: 25,000 @ 122.10p
Value: £30,525
Charlemagne Capital Ltd. (CCAP)
Director name: Ms Jayne A Sutcliffe
Amount purchased: 200,000 @ 14.50p
Value: £29,000
Intu Properties (INTU)
Director name: Mr Richard Gordon
Amount purchased: 5,000 @ 334.00p
Value: £16,700
Top Director Sells
Conviviality Retail (CVR)
Director name: Ms Diana Hunter
Amount sold: 850,000 @ 160.00p
Value: £1,360,000
Versarien (VRS)
Director name: Mr Neill Gareth Ricketts
Amount sold: 750,000 @ 29.50p
Value: £221,250
Versarien (VRS)
Director name: Mr Will Battrick
Amount sold: 375,000 @ 29.50p
Value: £110,625