London Capital Group chairman buys 1.2% stake
Charles-Henri Sabet, the executive chairman of London Capital Group (LCG), has shown his faith in the spread betting and CFDs company just two months after taking the role.
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London Capital Group Holdings
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Sabet, who took over from former boss Kevin Ashby in September and has since put in place a new management team, purchased 650,000 shares at a price of 35p each, spending £227.500.
This represents his only stake in the company, equal to a 1.16% holding.
The transaction came just a month after the firm's latest trading update, which showed that while revenues over the year-to-date were down 30% at £13.9m, the company had returned to growth in the third quarter.
"Since assuming the role of executive chairman in mid-September, the group now enters the fourth quarter strongly recapitalised and with a new broad and deep senior management team being put into place to position LCG for growth," Sabet said on 22 October.
Since the statement, the stock has jumped by 22% and is up over 60% over the past three months following a sharp decline earlier in the year.
Top Director Buys
London Capital Group Holdings (LCG)
Director name: Mr Charles-Henri Sabet
Amount purchased: 650,000 @ 35.00p
Value: £227,500
Xchanging (XCH)
Director name: Mr David Bauernfeind
Amount purchased: 20,000 @ 167.50p
Value: £33,500
Top Director Sells
Hogg Robinson Group (HRG)
Director name: Mr David Radcliffe
Amount sold: 863,516 @ 42.50p
Value: £366,994
Hogg Robinson Group (HRG)
Director name: Mr Kevin Ruffles
Amount sold: 81,505 @ 42.50p
Value: £34,640
Xchanging (XCH)
Director name: Mr David Bauernfeind
Amount sold: 18,868 @ 166.00p
Value: £31,321