LONDON (ShareCast) - Further evidence that the turnaround programme at software company Misys is proceeding according to plan came in the form of a large purchase of the company's shares today by non-executive director, Jeffrey Ubben.

Ubben spent £4.5m to buy 2m shares at 229p each, to lift his stake to 13.84%.

Last month the company reported a 42% drop in full year profits but claimed its turnaround operation was progressing in line with expectations. The main drag on the company’s performance was the Healthcare division and the company acted today to beef up the performance of this division by signing a strategic agreement with US healthcare IT specialist iMedica.

Under the terms of the agreement Misys will pay $8m for a minority equity stake in iMedica and $5m for licensing technology that will serve as the foundation for new offerings to be announced in November of this year. The new products will enable physicians in small practices to deploy healthcare IT more swiftly and easily.


Top Director Buys

Misys (MSY)
Director name: Mr Jeffrey W Ubben
Amount purchased: 2,000,000 @ 229.00p
Value: £4,580,000

Zytronic (ZYT)
Director name: Mr Denis Mullan
Amount purchased: 20,000 @ 164.50p
Value: £32,900

Universe Group (UNG)
Director name: Mr Malcolm Coster
Amount purchased: 250,000 @ 9.25p
Value: £23,125

Cape Diamonds (CAPE)
Director name: Mr Hermanus M Silver
Amount purchased: 40,000 @ 50.00p
Value: £20,000

Media Corporation (MDC)
Director name: Mr Jason Drummond
Amount purchased: 500,000 @ 4.00p
Value: £20,000

Uruguay Mineral Exploration (UGY)
Director name: Mr David Thomas Fowler
Amount purchased: 5,100 @ 137.21p
Value: £6,998


Top Director Sells

Luminar (LMR)
Director name: Mr Stephen C Thomas
Amount sold: 32,679 @ 692.00p
Value: £226,139

Luminar (LMR)
Director name: Mr Nick Beighton
Amount sold: 11,854 @ 692.00p
Value: £82,030

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