- Bunzl CEO buys 32,470 shares
- AO World CEO sells one million shares
- First Tin director buys 965,000 shares
Frank van Zanten, CEO of global distribution and outsourcing group Bunzl (BNZL) has bought 32,470 shares at £23.35 for a total value of £758,175 on 17 April.
Van Zanten's move comes as the FTSE 100 firm cut its earnings and outlook and suspended its share buyback on 16 April.
The shares initially fell by 27% on the news before steadying to sit at a three-year low of £23.76, wiping £2.3 billion off the company’s market value.
Bunzl’s CEO could be taking advantage of Bunzl’s depressed share price for his recent purchase.
Year-to-date Bunzl’s shares are down 29%.
AO WORLD CEO SELLS ONE MILLION SHARES
John Roberts, CEO of electrical retailer AO World (AO.) has sold one million shares at 94p for a total value of £941,700 on 17 April.
After this sale Roberts has a beneficial holding of 95,043,526 shares which excludes 6,348 ordinary shares held by Crystalcraft Limited – a company of which he is a director and shareholder.
Roberts’ move comes several weeks after the company said it expects to increase business-to-consumer retail revenue by circa 12% year-on-year with like-for-like group revenue to increase around 7% year-on-year to £1.1 billion.
The company added that adjusted pre-tax profit ‘had grown faster than sales’ in the region of 30% and is expected to be around the top end of previously upgraded guidance of between £39 million to £44 million.
FIRST TIN NON-EXECUTIVE CHAIRMAN BUYS 965,000 SHARES
Charles Cannon-Brookes, non-executive chairman of metals firm First Tin (1SN) has bought 965,000 shares on behalf of Arlington Group Asset Management at 5p for a total value of £48,250 on 15 April.
Cannon-Brookes has a 50% interest in Arlington Group Asset Management.
Arlington now holds a beneficial interest of 48,651,836 ordinary shares representing 10.77% of the company’s issued share capital.
Year-to-date First Tin shares are marginally higher up 3%.
