Fiberweb number cruncher builds stake

Jun 26, 2009

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Director and chief financial officer of Fiberweb Daniel Abrams has put his hand in his pocket and bought 70,000 shares in the fabrics producer.

Abrams paid £49,560 for the stake at 70.8p a share on the same day that the firm concluded negotiations with Brazilian spunbound fabrics producer Fitesa over the creation of a joint venture company.

Friday's purchase takes Abrams' stake to 316,000 and comes as Fiberweb shares notch up a new 12-month closing high of 69.25p each.

Earlier, Fiberweb said the new JV company, owned 50/50 by Petropar and Fiberweb, will be called FitesaFiberweb.

It will focus on markets for lightweight non-woven fabrics, serving producers of disposable hygiene products such as baby and adult nappies and feminine care products

Top Director Buys

Debenhams (DEB) Director name: Mr Rob Templeman Amount purchased: 2,500,000 @ 80.00p

Value: £2,000,000

BG Group (BG.) Director name: Mr Jurgen Dormann Amount purchased: 15,000 @ 994.00p

Value: £149,100

Debenhams (DEB) Director name: Mr Paul Pinder Amount purchased: 65,477 @ 80.00p

Value: £52,382

Fiberweb (FWEB) Director name: Mr Daniel Abrams Amount purchased: 70,000 @ 70.80p

Value: £49,560

Brit Insurance Holding (BRE) Director name: Mr Joseph Patrick MacHale Amount purchased: 26,667 @ 183.30p

Value: £48,881

Progressive Digital Media Group (PRO) Director name: Mr Peter Harkness Amount purchased: 150,000 @ 12.50p

Value: £18,750

PGI Group (PGI) Director name: Mr Spencer N Roditi Amount purchased: 191,882 @ 8.50p

Value: £16,310

Debenhams (DEB) Director name: Mr Dennis H Millard Amount purchased: 14,961 @ 80.00p

Value: £11,969

Huntsworth (HNT) Director name: Mr Eugene P. Beard Amount purchased: 19,640 @ 54.70p

Value: £10,743

Top Director Sells

BG Group (BG.) Director name: Mr Jurgen Dormann Amount sold: 15,000 @ 990.00p

Value: £148,500

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