Watches of Switzerland Group PLC - Leicester, England-based watch seller - Chief financial officer, board chair, and two non-executive directors buy nearly £900,000 in stock on Friday last week, after its price took a hit from the acquisition of a rival retailer by key supplier Rolex SA. CFO Anders Romberg buys 100,000 shares at £5.85, worth £584,700. Chair Ian Carter buys 35,000 shares at prices from 582.50 pence to 589.50p, worth £205,690 in total. Non-executive directors Tea Colaianni and Robert Moorhead buy 8,500 and 8,495 shares respectively, at £5.86 and £5.84. Watches of Switzerland shares dropped more than 20% late last month after Rolex announced it had bought Bucherer SA. However, Watches of Switzerland said it was reassured by Rolex their relationship remained unchanged, and the opportunistic acquisition of a partner for the past 100 years didn’t represent a broader move into retail by the high-end Swiss watchmaker.

Current stock price: 606.00p, up 2.8% in London on Monday

12-month change: down 21%

Copyright 2023 Alliance News Ltd. All Rights Reserved.