LONDON (ShareCast) - Metnor boss Stephen Rankin has upped his stake in the property firm to 46.6% after shelling out over £1.8m on extra shares.
He bought 1.34m at 138p alongside two smaller tranches of 5,000 and 2,000 snapped up below 140p, lifting his holding to 7.18m.
The shares rallied in April after the company said it could weather the storm hitting the property market, although they’ve fallen back since as conditions deteriorate further.
“This uncertainty makes it difficult to predict the timing of future property sales, however the group is well funded and consequently is in a sound position to retain its development sites until the market recovers,” said Rankin at the time.
“Future developments of care homes and student accommodation will continue as these sectors are expected to perform robustly despite the current economic problems.”
“Our core contracting businesses have satisfactory order books which will underpin a solid 2008 performance,” he added.
Top Director Buys
Metnor Group (MTG)
Director name: Mr Stephen Rankin
Amount purchased: 1,328,172 @ 138.00p
Value: £1,832,877
ClearSpeed Technology (CSD)
Director name: Mr Richard B Farleigh
Amount purchased: 5,325,000 @ 12.00p
Value: £639,000
PLUS Markets Group (PMK)
Director name: Mr Stephen Hazell-Smith
Amount purchased: 250,000 @ 9.50p
Value: £23,750
Telford Homes (TEF)
Director name: Mr David Durant
Amount purchased: 30,000 @ 71.00p
Value: £21,300
Brewin Dolphin (BRW)
Director name: Mr William Nicholas Hood
Amount purchased: 20,000 @ 102.00p
Value: £20,400
Andes Energia (AEN)
Director name: Mr Neil Arthur Bleasdale
Amount purchased: 26,000 @ 47.80p
Value: £12,428
Future (FUTR)
Director name: Mr Michael Penington
Amount purchased: 50,000 @ 24.70p
Value: £12,350
Top Director Sells
Homeserve (HSV)
Director name: Ms Emma Thomas
Amount sold: 1,332 @ 1,505.00p
Value: £20,047
-1.75p ()
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