Raft of Director Buying as Markets Dip

DIRECTOR MOVES October 3-7: Some weeks are far more active than others when it comes to directors buying shares in their own companies

Jackie Beard, FCSI, 10 October, 2011 | 10:40AM
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Some weeks are far more active than others when it comes to directors buying shares in their own companies. Nothing out of the ordinary there, except that when investors may be concerned, or sitting on the sidelines in times of market volatility, often we see directors buying in on share price weakness. Some of these are regular monthly purchases, through savings schemes, but it’s also a mark of confidence that they have in their company. They don’t always get it right, of course, but it’s encouraging to see the alignment of interests with shareholders, as well as the active participation in the funds they govern.

Last week was one such week. As markets swung wildly over fears of a Greek default, a number of directors used the volatility to add to their stakes.

Director Moves
Baillie Gifford Shin Nippon
(BGS): Angus Tulloch has stepped down from the board after four years. He has been replaced by Merryn Somerset Webb. Somerset Webb recently joined the board of Montanaro European Smaller Companies (MTE) and we’re pleased to see her buying her first tranche of shares in that company this week.

Genesis Emerging Markets (GSS): The Hon John Train will be retiring from the board at the end of October, after many years’ service to the company.

Henderson Eurotrust (HNE): Bob Bischof will be retiring from the board after nearly 16 years.

Kings Arms Yard VCT (KAY): There have been several changes to the board following the merger with Kings Arms Yard VCT 2. Alan Lamb and Thomas Chambers have been appointed as non-executive directors of the company, while Patrick Reeve and Robert Wright have stepped down. Both Lamb and Chambers were directors of Kings Arms Yard VCT 2 so this brings consistency for shareholders of the merged company.

Octopus AIM VCT (OOA): Marion Sears has been appointed to the board as a non-executive director. This is her third such role and takes the board to four.

Octopus Eclipse VCT 3 (OE3C): Ruth Macintosh has resigned from the board after just 12 months. This takes the board to just two.

Director Buying
Aberforth Geared Income (AGIT): Michael Greig
Albion Development VCT (AADV): Andrew Elder, Patrick Reeve (managers), Jonathan Thornton
Albion Development VCT D (AADD): Andrew Elder, Patrick Reeve (managers)
Alliance Trust (ATST): Katherine Garrett-Cox, Robert Burgess, Alan Trotter, Lesley Knox, John Hylands, Christopher Masters
Baronsmead VCT (BDV): Andrew Crossley, Valerie Marshall
Baronsmead VCT 2 (BVT): Clive Parritt
Baronsmead VCT 4 (BNS): Ian Kirkpatrick
British Assets (BSET): James Long
F&C Capital & Income (FCI): John Emly
Henderson EuroTrust (HNE): John Cornish
JPMorgan Overseas (JMO): Simon Davies
Kings Arms Yard VCT (KAY): Isabel Dolan, Henry Stanford, Thomas Chambers, Robert Whitby-Smith, Will Fraser-Allen, Alan Lamb
MedicX (MXF): Christopher Bennett, John Hearle, Shelagh Mason, David Staples
Mid Wynd International (MWY): Pat Barron
Montanaro European Smaller Companies (MTE): Merryn Somerset Webb
Personal Assets (PNL): Robin Angus, Stuart Paul
Primary Health Properties (PHP): William Hemmings, Harry Hyman
Reconstruction Capital II (RC2): Ion Florescu
Scottish American (SCAM): Rachel Lomax, Rt Hon Sir Menzies Campbell, Lord Kerr of Kinlochard
Scottish Investment Trust (SCIN): John Kennedy (manager)
Scottish Mortgage (SMT): John Scott
Temple Bar (TMPL): John Reeve, Richard Jewson, David Webster, June de Moller
Ukraine Opportunity (UKRO): Gordon Lawson
Utilico Emerging Markets (UEM): Alexander Zagoreos, Charles Jillings, Garry Madeiros, Anthony Muh, Kevin O’Connor
Witan (WTAN): Andrew Bell (manager)

The information contained within is for educational and informational purposes ONLY. It is not intended nor should it be considered an invitation or inducement to buy or sell a security or securities noted within nor should it be viewed as a communication intended to persuade or incite you to buy or sell security or securities noted within. Any commentary provided is the opinion of the author and should not be considered a personalised recommendation. The information contained within should not be a person's sole basis for making an investment decision. Please contact your financial professional before making an investment decision.

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