Severfield boss takes stake after slump
Shares in structural steel supplier Severfield-Rowen rose after chairman Peter Levine spent almost £1m on shares in the company, taking advantage of a sharp fall in the share price last week following a warning that demand had softened.
He bought 400,000 shares for 248p each, or a total of £992,000, bringing his total holding to 465,680 shares or 0.53% of the company.
Severfield's share price tumbled 40% on Thursday as it cautioned that it had seen demand soften in the early part of 2008.
The company, which supplies steel to projects ranging from new stadiums to retail developments, said growth this year would be "at a somewhat lower level" than its previous expectations.
Peter Levine, a corporate lawyer, was appointed non-executive director and deputy chairman of Severfield in 1993. He became chairman in 1998.
Top Director Buys
Severfield-Rowen (SFR)
Director name: Mr Peter M Levine
Amount purchased: 400,000 @ 248.00p
Value: £992,000
SABMiller (SAB)
Director name: Mr Miles Quintin Morland
Amount purchased: 10,000 @ 1,120.00p
Value: £112,000
Merrill Lynch Greater European (MGE)
Director name: Miss Carol Ferguson
Amount purchased: 21,768 @ 165.00p
Value: £35,917
Morant Wright Japan Income Trust (MWJ)
Director name: Mr Andrew Barker
Amount purchased: 40,000 @ 61.75p
Value: £24,700
INVU (INVU)
Director name: Mr Daniel Goldman
Amount purchased: 97,959 @ 24.50p
Value: £24,000
INVU (INVU)
Director name: Mr Bernard R Fisher
Amount purchased: 97,959 @ 24.50p
Value: £24,000
INVU (INVU)
Director name: Mr Thomas Maxfield
(Article continues below)Advertisement
Amount purchased: 97,959 @ 24.50p
Value: £24,000
Rugby Estates (RES)
Director name: Mr John Jackson
Amount purchased: 5,000 @ 396.60p
Value: £19,830
Optos (OPTS)
Director name: Ms Rosalyn S. Wilton
Amount purchased: 12,500 @ 116.66p
Value: £14,582
Hardide (HDD)
Director name: Mr Robert Goddard
Amount purchased: 135,000 @ 8.60p
Value: £11,610
Top Director Sells
Filtronic (FTC)
Director name: Mr Hemant Mardia
Amount sold: 19,353 @ 168.00p
Value: £32,513
INVU (INVU)
Director name: Mr David Morgan
Amount sold: 126,955 @ 24.50p
Value: £31,104
INVU (INVU)
Director name: Mr John Agostini
Amount sold: 83,461 @ 24.50p
Value: £20,448
INVU (INVU)
Director name: Mr Jon Halestrap
Amount sold: 83,461 @ 24.50p
Value: £20,448
