Charlemagne bosses hike stakes after update
Bosses at Charlemagne Capital spent more than £¾m on shares in the emerging markets-focused hedge fund manager yesterday, the day after it reported a sharp fall in assets under management.
Chief executive Jayne Sutcliffe spent nearly £250,000, when her trust and family took 610,000 shares at an average of 40.8p. They now have just under 31.5m shares in the company, or a stake of 11%.
David McMahon, Charlemagne's planning director, bought 363,200 shares for an average 40.41p and finance director David Curl and his family 100,000 shares through a trust, paying 40.8p each.
Operations director Anderson Whamond bought 73,840 shares at 40.41p a pop.
McMahon, Curl and Whamond now have respective stakes of 1.76%, 4.81% and 1.62%.
Directors Jane Bates and Lord Lang of Monkton, a former Conservative MP and Secretary of State for Scotland, took 25,000 shares and 20,000 shares respectively.
The group, which has strong interests in Russia and eastern Europe, announced Wednesday that assets under management as at 31 March were $5.5bn, down from $6.5bn reported on 1 January, which had been a 40% increase on the year before.
Top Director Buys
Charlemagne Capital (CCAP)
Director name: Ms Jayne A Sutcliffe
Amount purchased: 610,000 @ 40.80p
Value: £248,880
Wellstream Holdings (WSM)
Director name: Mr Patrick M. Murray
Amount purchased: 18,500 @ 1,267.00p
Value: £234,395
Charlemagne Capital (CCAP)
Director name: Mr David McMahon
Amount purchased: 363,200 @ 40.40p
Value: £146,733
Bankers Investment Trust (BNKR)
Director name: Mr Richard D Brewster
Amount purchased: 15,850 @ 401.80p
Value: £63,685
Charlemagne Capital (CCAP)
Director name: Mr David D Curl
Amount purchased: 100,000 @ 40.80p
Value: £40,800
Charlemagne Capital (CCAP)
Director name: Mr Alexander Anderson S Whamond
Amount purchased: 73,840 @ 40.40p
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Value: £29,831
Zoo Digital (ZOO)
Director name: Mr Stuart Green
Amount purchased: 100,000 @ 17.00p
Value: £17,000
Hiscox (HSX)
Director name: Mr Robert Hiscox
Amount purchased: 4,850 @ 243.80p
Value: £11,824
Charlemagne Capital (CCAP)
Director name: Ms Jane Bates
Amount purchased: 25,000 @ 40.40p
Value: £10,100
Top Director Sells
Dairy Farm International (Singapore) (DFI)
Director name: Mr Howard Leonard Mowlem
Amount sold: 200,700 @ $4.35
Value: $873,045
Oilexco Inc (CDI) (OIL)
Director name: Mr Rod Christensen
Amount sold: 55,200 @ 712.80p
Value: £393,466
Bankers Petroleum (BNK)
Director name: Mr Eric M Brown
Amount sold: 86,500 @ 83.12p
Value: £71,899
Bankers Investment Trust (BNKR)
Director name: Mr Richard D Brewster
Amount sold: 16,388 @ 392.00p
Value: £64,241
