New Resolution non-exec buys shares

Aug 18, 2010

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Resolution non-exec Tim Wade's wife has bought shares in the insurance firm consolidator.

The 40,000 shares she bought are the only shares the couple own in Resolution. At 251.5p a share, they cost a total of £106,000.

Wade joined the Resolution board on 19 May and he is chairman of the audit and risk committee. Wade is also a director of Macquarie Bank International.

In the first half of 2010, Resolution, which bought AXA's UK life assurance business in June for £2.75bn, reported an IFRS operating profit of £203m and "additional financial discipline" has seen Friends, snapped up last year for £1.9bn, contribute £211m. Resolution lost £7m a year ago.

New business profits jumped 153% at Friends to £81m, returns on new business rose from 10.7% to 15.1% and MCEV operating profit leapt 55% to £188m. Sales on an annual premium equivalent (APE) basis increased 42% to £458m.

Top Director Buys

Cyprotex (CRX) Director name: Mr Douglas Bates Amount purchased: 5,303,571 @ 3.50p Value: £185,625

Resolution Ltd (RSL) Director name: Mr Tim Wade Amount purchased: 40,000 @ 251.50p Value: £106,000

Cyprotex (CRX) Director name: Dr Katya Tsaioun Amount purchased: 1,767,857 @ 3.50p Value: £61,875

Lok'n Store Group (LOK) Director name: Mr Charles Peal Amount purchased: 50,000 @ 87.00p Value: £43,500

Cyprotex (CRX) Director name: Mr Stephen Harris Amount purchased: 714,286 @ 3.50p Value: £25,000

Cyprotex (CRX) Director name: Mr John Dootson Amount purchased: 550,000 @ 3.50p Value: £19,250

Aberdeen Latin American Inc Fund (ALAI) Director name: Mr Martin Adams Amount purchased: 10,000 @ 100.00p Value: £10,000

Top Director Sells

News Corp A (NCRA) Director name: Mr James Murdoch Amount sold: 87,903 @ $12.95 Value: $1,138,344

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 54,130 @ $12.95 Value: $700,984

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 51,119 @ $12.95 Value: $661,991

News Corp A (NCRA) Director name: Mr Chase Carey Amount sold: 42,935 @ $12.95 Value: $556,008

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 39,750 @ $12.95 Value: $514,762

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 37,540 @ $12.95 Value: $486,143

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 36,363 @ $12.95 Value: $470,901

News Corp A (NCRA) Director name: Mr Chase Carey Amount sold: 34,355 @ $12.95 Value: $444,897

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 34,342 @ $12.95 Value: $444,729

News Corp A (NCRA) Director name: Mr Rupert Murdoch Amount sold: 23,952 @ $12.95 Value: $310,178

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