FirstGroup FD buys initial stake

Nov 12, 2009

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Recently appointed FirstGroup finance director Jeff Carr has not let the industrial dispute at the bus and train operator's Thameslink subsidiary put him off buying his first shares in the group. Carr spent £58,198 on 15,000 shares.

Carr was previously finance director of budget airline easyJet. He has also worked in the finance area for Associated British Foods plc, Reckitt Benckiser, Grand Metropolitan and Unilever.

In August, Carr sold all his shares in easyJet. He raised just over £135,000 from the sale of his existing shares and made a gain of £119,000 when he exercised options and immediately sold them. He has invested less than one-quarter of this cash in his FirstGroup shares.

Last week, FirstGroup reported a 44% fall in profits to £30.3m in the six months to September 2009, even though revenues rose from £2.77bn to £2.9bn. The company hopes to achieve £200m of annual cost savings this year.

Top Director Buys FirstGroup (FGP) Director name: Mr Jeff Carr Amount purchased: 15,000 @ 387.99p

Value: £58,198

Wolseley (WOS) Director name: Mr Alain Le Goff Amount purchased: 3,000 @ 1,363.67p

Value: £40,910

Frenkel Topping (FEN) Director name: Ms Julie Dean Amount purchased: 663,000 @ 3.00p

Value: £19,890

Top Director Sells

Jardine Matheson (Singapore) (JAR) Director name: Mr Adam Phillip Charles Keswick Amount sold: 10,000 @ $29.53

Value: $295,312

Jardine Matheson (Singapore) (JAR) Director name: Mr Benjamin William Keswick Amount sold: 10,000 @ $29.53

Value: $295,312

Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L Keswick Amount sold: 10,000 @ $29.53

Value: $295,312

Jardine Matheson (Singapore) (JAR) Director name: Mr E P K Weatherall Amount sold: 10,000 @ $29.53

Value: $295,312

Frenkel Topping (FEN) Director name: Mr Richard Fraser Amount sold: 663,000 @ 3.00p

Value: £19,890

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