DIRECTOR DEALINGS SUMMARY: AFH Financial CEO To Sell 10 Million Shares

LONDON (Alliance News) - The following is a summary of director dealings reported in London on ...

Alliance News 20 March, 2017 | 5:10PM
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LONDON (Alliance News) - The following is a summary of director dealings reported in London on Monday.

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AFH Financial Group said it has raised the desired GBP10.0 million through a share placing announced earlier in the day aimed at raising funds for further independent financial adviser acquisitions.

AFH placed 5.7 million shares at a price of 175.00 pence each and Chief Executive Alan Hudson has agreed to sell up to 1.0 million of his shares at the same price in order to satisfy excess demand.

Following this, Hudson will hold 6.6 million shares in the group.

"The oversubscription of the placing is in our view a validation of both the company's progress to date and strategy. We are grateful for the support of both existing and new investors in the placing which will enable the company to execute on its attractive pipeline of acquisitions," Hudson said in a statement.

Shares in AFH closed down 1.3% at 185.00p on Monday.

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FTSE 100-listed Barclays said Chief Risk Officer CS Venkatakrishnan sold around GBP958,984 worth of shares in the global lender. Venkatakrishnan sold 417,676 shares at a price of 229.60 pence per share on Friday. His total shareholding was not disclosed. The stock closed down 0.6% at 229.00p on Monday.

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IGas Energy said Non-Executive Director Robert McTighe bought 300,000 shares at a price of 4.77 pence per share on Monday. Following this transaction, McTighe now holds 550,000 shares. The company also said McTighe agreed to subscribe for 11.1 million shares on Friday as part of an open offer. Earlier this month IGas said it would look to raise USD30.0 million via an open offer as previously guided and existing shareholders would be able to participate at 4.50 pence per share. The oil and gas stock closed down 5.0% at 4.59p on Monday.

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BlackRock World Mining Trust said Chairman Ian Cockerill bought 4,000 shares at a price of 362.63 pence per share on Friday. Last April Cockerill succeeded Anthony Lea as chairman, following Lea's earlier than expected retirement due to ill health. Lea retired from Blackrock World Mining Trust following a decade with the firm. The stock closed down 1.3% at 356.26p Monday.

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Lok'nStore Group said Non-Executive Director Charles Peal sold 5,000 shares at 430.00 pence per share on Friday as part of his personal tax planning arrangements. Following this transaction, Peal's interest is now 785,000 shares, or a 2.7% stake. Shares in the self-storage company closed down 3.0% at 422.00p Monday.

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Speedy Hire said Non-Executive Director David Shearer bought 50,000 shares at a price of 49.00 pence per share on Monday. After the purchase, Shearer holds 150,000 shares. Shares in the tools, equipment and plant hire services company closed up 1.5% at 50.25p Monday.

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Electrocomponents said Chairman Peter Johnson bought 3,000 shares at a price of 494.00 pence per share on Friday. Johnson's total shareholding was not disclosed. Shares in the electronics distributor closed up 1.4% at 484.18p Monday.

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Avation said Non-Executive Director Derek Sharples bought 10,000 shares at a price of 2.18 pence per share Friday. The purchase is Sharples's only holding in the group. Shares in the commercial passenger aircraft leasing company closed up 0.5% at 215.50p Monday.

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Hollywood Bowl Group said Chief Financial Officer Laurence Keen bought 7,000 shares at a price of 164.00 pence per share on Friday. Keen's total shareholding was not disclosed. Shares in the ten-pin bowling operator closed down 7.6% at 155.00p Monday.

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By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun

Copyright 2017 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar Rating
AFH Financial Group PLC 277.50 GBX 0.91 -
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