Promethean non-exec buys at discount to float

Sep 02, 2010

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Non-executive director Philip Rowley has invested £31,000 in interactive whiteboards supplier Promethean World.

Rowley bought 24,838 shares at 124.7p a share, taking his stake to 157,606 shares.

Promethean World floated in March 2010 at 200p a share. The share price has been in decline since June. The interim figures in August have sparked a mini-rally in the shares so they have risen from their low of 119p.

Promethean World's interims were positive. The Blackburn-based firm said pre-tax profit rose from £2.1m to £9.2m for the six months to June 2010. Revenue increased 35% to £122.4m. The main market is North America but demand for Promethean World's products is increasing in the rest of the world as well. At the moment, 7% of classrooms have interactive whiteboards.

Investec set a price target of 222p at the time of the interims.

Top Director Buys

Promethean World (PRW) Director name: Mr Philip Rowley Amount purchased: 24,838 @ 124.70p Value: £30,973

Aer Lingus Group (AERL) Director name: Mr Andrew Macfarlane Amount purchased: 25,000 @ € 0.92 Value: € 23,000

Bioquell (BQE) Director name: Mr Simon Constantine Amount purchased: 14,000 @ 115.00p Value: £16,100

Rank Group (RNK) Director name: Mr Peter W Johnson Amount purchased: 8,926 @ 113.37p Value: £10,119

Top Director Sells

Pennon Group (PNN) Director name: Mr Christopher Loughlin Amount sold: 19,023 @ 570.37p Value: £108,501

Pennon Group (PNN) Director name: Mr C I J H Drummond Amount sold: 16,684 @ 570.37p Value: £95,161

Pennon Group (PNN) Director name: Mr D J Dupont Amount sold: 16,684 @ 570.37p Value: £95,161

Pennon Group (PNN) Director name: Mr Ken Woodier Amount sold: 9,510 @ 570.37p Value: £54,242

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