LONDON (ShareCast) - Legacy software specialist Micro Focus announced today that its new chief executive has made his maiden purchase of shares in the firm.
Stephen Kelly, appointed chief executive of Micro Focus in May 2006, has snapped up 125,000 shares at 200p per share for a cost of some £250,000.
Kelly is following a strategy employed by other directors at the firm, with non-executive chairman Kevin Loosemore, chief financial officer Nick Bray and non-executive director David Maloney all picked up shares in October.
Had Kelly snapped up the shares when he joined the firm eight months ago he would be sitting on a handsome profit as they have more than doubled since his appointment.
It marks a far cry from the beginning of 2006 when shares in Micro Focus fell to record lows after a full year sales warning prompted the departure of former chief executive Tony Hill.
Top Director Buys
Micro Focus International Plc (MCRO)
Director name: Mr Stephen Kelly
Amount purchased: 125,000 @ 200.25p
Value: £250,312
Syndicate Asset Management (SAM)
Director name: Mr John Morton
Amount purchased: 333,333 @ 64.00p
Value: £213,333
Eaglet Investment Trust (EIN)
Director name: Mr Peter Webb
Amount purchased: 22,000 @ 418.00p
Value: £91,960
North Atlantic Smaller Trust (NAS)
Director name: Mr Christopher H B Mills
Amount purchased: 5,002 @ 1,128.00p
Value: £56,423
HMV Media (HMV)
Director name: Mr Carl Symon
Amount purchased: 18,000 @ 140.00p
Value: £25,200
North Atlantic Smaller Trust (NAS)
Director name: Mr Christopher H B Mills
Amount purchased: 998 @ 1,141.00p
Value: £11,387
Top Director Sells
Noble Investments (NBL)
Director name: Mr Kean McDonald
Amount sold: 45,000 @ 167.00p
Value: £75,150
MWB Business Exchange (MBE)
Director name: Mr Richard G Balfour-Lynn
Amount sold: 25,000 @ 195.00p
Value: £48,750
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