It’s been relatively quiet in terms of director deals over the past week, but two deals that caught the eye involve major stakes traded by bosses at two technology companies.
The biggest transaction over the last week involves Jonathan Satchell, chief executive of Learning Technologies (LTG:AIM), and his wife who, via The Satchell Trust, yesterday sold 2.1 million shares at a price of 170p each in a deal totaling around £3.5 million.
In a statement the firm said the sale will fund a property purchase for their children, who have beneficial interest in the trust. Following the transaction, Satchell still retains a 9.12% stake in the business, while The Satchell Trust now has a 0.8% holding.
The company’s shares have returned to pre-pandemic levels and in its full year results for 2020 revealed a rise in revenue and earnings per share following a pandemic-led rise in demand for digital learning and talent management.
AVEVA CEO BUYS IN
Peter Herweck, the chief executive of industrial software group Aveva (AVV), this week bought 13,500 shares in the firm at a price of £35.48 per share in a deal worth around £480,000.
It comes after the company reported resilient results for the year to 31 March 2021 with a 4.4% rise in adjusted earnings despite a 1.6% decline in revenue, impling a decent rebound in demand considering the double-digit declines in the first half of its financial year.
In its outlook Aveva said the ‘ongoing digitalisation of the industrial world continues to drive demand’ for its software, and that notwithstanding the continued uncertainties in relation to Covid, trading conditions have ‘largely normalised’ in its major markets following the global disruption at the start of the crisis.
OTHER DEALS
Alex McIntosh, chief financial officer at research and polling firm YouGov (YOU:AIM), sold 17,500 shares at a price of £11.10 each in a deal worth nearly £195,000.
Michelle Scrimgeour, chief executive of the investment arm of financial services company Legal & General (LGEN), sold around 52,000 shares at a price of 284p each in a transaction totaling £148,000.
David Forde, the chief executive of alcoholic drinks supplier C&C (CCR), bought 48,000 shares at 246p each in a deal worth over £118,000.
For a full list of the week’s most significant trades, click here.
