Directors' Deals

November 22, 2013 6:53 pm

Boardroom trades November 23

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Share price falls in specialist lighting group Dialight gathered pace this month after a restating of profit expectations caused the mood among traders to darken.

Directors continue to see a bright future, though, with most of the board extending their stakes.

Stephen Bird was the most aggressive, buying 10,000 shares to increase his holding fivefold as they hit 900p last Wednesday – he has already been rewarded with a 40p a share bounce.

Richard Stuckes bought at 915p on the same day, with two more directors following up last Friday.

Finance director Mark Fryer, who has spent three years at the firm, was not among buyers.

Mr Fryer traded for the first time last month, sidestepping the recent slide by selling two-thirds of the shares he acquired through an award a fortnight before.

With the construction sector going from recovery to mutterings of a boom, shares in building accessories group Norcros topped an all-time high above 22p in September.

Profit-taking has since taken the shine off with Vijay Aggarwal joining the ranks of the sellers as he left the company in September. But improvements in revenue and underlying profits reported last week left the remaining directors in buoyant mood.

David McKeith joined the board in July but has missed out on gains of 25 per cent in the stock since taking his seat.

Last Wednesday he bought 150,000 at 21p to become a shareholder for the first time and Martin Payne extended his holding with a £20,000 investment on the same day. His first trade in June last year is already up 66 per cent.

Specialist engineering group Spirax-Sarco is also off its recent highs so chief operating officer Nick Anderson doubled his holdings last Friday with a £45,000 investment just a few weeks after stepping up to the role.

A year ago he paid £35,000 for a similar stake but aggressive growth in emerging markets has led to a 4 per cent pick-up in sales since June, compensating for a lack of growth in mature markets. Based in Gloucestershire, the company is the world leader in its niche of steam control manufacturing plant.

Shares in Personal Group Holdings look set to eclipse a 23 per cent advance last year having already improved by a third since December topping fresh highs this month.

Chairman Chris Curling has continued to increase his stake through incentive plans since he bought on the market almost five years ago, but he made his first disposal this week.

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