New Homeserve director opens account

Feb 10, 2012

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A non-executive director of FTSE 250 emergency repair group Homeserve has purchased his first lot of shares one month after joining the firm.

Ben Mingay, who joined the board at the start of January, bought himself 20,000 at 250.70p for a total of £50,140.

The purchase comes just days after the struggling firm slashed 200 jobs as it revealed that the total customer numbers for the full year ending March 31st are now expected by 8% lower than last year, worse than previous guidance of a 5% reduction. The firm said the cuts will help it to focus on marketing and create a smaller outbound telephony operation.

Nevertheless, the company emphasised that it expects adjusted pre-tax profit to be within analysts' expectations of around £122-132m for the year.

The director now owns around 0.06% of the firm's shares.

Top Director Buys

Vectura Group (VEC)

Director name: Mrs Anne Hyland

Amount purchased: 243,900 @ 48.12p

Value: £117,365

Homeserve (HSV)

Director name: Mr Ben Mingay

Amount purchased: 20,000 @ 250.70p

Value: £50,140

3i Infrastructure (3IN)

Director name: Mr Peter Sedgwick

Amount purchased: 40,000 @ 122.49p

Value: £48,996

India Hospitality Corp. (DI) (IHC)

Director name: Mr Jason Ader

Amount purchased: 459,793 @ $0.09

Value: $41,381

India Hospitality Corp. (DI) (IHC)

Director name: Mr Ravi Deol

Amount purchased: 308,061 @ $0.09

Value: $27,725

India Hospitality Corp. (DI) (IHC)

Director name: Mr Sandeep Vyas

Amount purchased: 151,732 @ $0.09

Value: $13,656

Top Director Sells

British Sky Broadcasting Group (BSY)

Director name: Mr Andrew Griffith

Amount sold: 240,000 @ 699.06p

Value: £1,677,744

British Land Co (BLND)

Director name: Mr Chris Grigg

Amount sold: 126,436 @ 492.00p

Value: £622,065

British Land Co (BLND)

Director name: Mr Charles Maudsley

Amount sold: 27,715 @ 492.00p

Value: £136,358

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