Southern Cross directors start rebuilding stakes
Bill Colvin and John Murphy, directors of the care home operator Southern Cross Healthcare, each took two large stakes in the company today, following heavy recent falls in its share price.
The company's share price has slumped since the resignation of finance director Graham Sizer on January 22.
Colvin, who became chief executive of the company on January 1, after three years as chairman, bought 400,000 shares at 388.5p each followed by 100,000 shares at 380.5p.
Murphy, Southern Cross's chief operations director, took a 350,000 share stake followed by a 100,000 share stake, also paying 388.5p and 380.5p a share respectively.
Colvin spent a total of £1.554m, while Murphy spent £1.36m.
The purchases are the first they have made since Colvin and Murphy sold shares worth £6.6m and £10.2m respectively in December last year. They sold their stakes in Southern Cross in advance of the proposed changes to the capital gains tax legislation announced by the Chancellor in the November budget.
Top Director Buys
Southern Cross Healthcare Group (SCHE)
Director name: Mr Bill Colvin
Amount purchased: 400,000 @ 388.50p
Value: £1,554,000
Southern Cross Healthcare Group (SCHE)
Director name: Mr John Murphy
Amount purchased: 350,000 @ 388.50p
Value: £1,359,750
Vinaland (VNL)
Director name: Mr Don Di Lam
Amount purchased: 293,000 @ $1.36
Value: $399,359
Southern Cross Healthcare Group (SCHE)
Director name: Mr Bill Colvin
Amount purchased: 100,000 @ 380.50p
Value: £380,500
Southern Cross Healthcare Group (SCHE)
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Director name: Mr John Murphy
Amount purchased: 100,000 @ 380.50p
Value: £380,500
North Atlantic Smaller Trust (NAS)
Director name: Mr Christopher H B Mills
Amount purchased: 30,000 @ 970.00p
Value: £291,000
Metnor Group (MTG)
Director name: Mr Stephen Rankin
Amount purchased: 154,781 @ 150.00p
Value: £232,172
Cropper (James) (CRPR)
Director name: Mr J A Cropper
Amount purchased: 54,348 @ 230.00p
Value: £125,000
Severfield-Rowen (SFR)
Director name: Mr Tom Haughey
Amount purchased: 38,771 @ 256.00p
Value: £99,254
Cropper (James) (CRPR)
Director name: Mr Mark Cropper
Amount purchased: 39,924 @ 230.00p
Value: £91,825
