Shares digital

Nicholas Shattock, the deputy chief executive of property specialist Quintain Estates (QED) has exercised an option to buy 60,150 shares at 199.5p, while also buying a further 6,400 shares at 521p. In addition, Michael Marshall, the company’s head accountant, also purchased 10,000 shares at 534p, while finance director Rebecca Worthington exercised options over 30,075 shares.

The shares have suffered, alongside others in the sector, from worries over interest rates and property market woes, a factored not helped by a decision in August by banking group HBOS (HBOS), to pull the plug on a takeover bid after building up an 11.9% stake in the company from property entrepreneur Paul Kemsley. HBOS now has a 14.2% holding which could be the springboard for a bid once credit conditions improve.

Meanwhile the group’s latest diluted NAV rose to 693p helped by a much better performance from its Wembley and Greenwich Peninsula holdings. At 493p the shares are selling on a 29% discount to NAV.

Shares says: HBOS may return to the table with another offer, while Quintain’s Wembley and Greenwich developments are encouraging for future prospects.