- Melrose director offloads nearly £280,000 shares
- Shaftesbury Capital director snaps up 50,000 shares
- Vianet director splashes out after HSBC funding
David Lis, non-executive director at Melrose Industries (MRO) sold 30,000 shares at 541p for the total value of £162,400 on 16 November.
The sale comes a day after Lis sold 21,400 shares at 542p for the total value of £115,914 on 15 November.
The disposal of both tranches of shares comes after the industrial turnaround specialist reported a positive trading update for the four months to 31 October.
Melrose said it is ‘trading ahead of expectations’ and reported revenue growth of 18% and upgraded guidance for the 2023 full year and a ‘first guide for 2024.’
Melrose shares have performed well year-to-date up over 81% to the 519p mark.
SHAFTESBURY CAPITAL DIRECTOR BUYS 50,000 SHARES
Richard Akers non-executive director of Shaftesbury Capital (SHC) has bought 50,000 shares at 113p for the total value of £56,450 on 14 November.
Shaftesbury Capital is a newish group in the UK property sector – formed from the merger of London’s West End Landlord Shaftesbury and rival Capco (previously known as Capital & Counties).
The merger created the West End’s biggest landlord.
Akers move could be seen as a vote of confidence in the property investment and development company which posted a £799 million pre-tax profit for the first half of year in August.
Shares are up over 11% year-to-date at 121p showing that the group’s fortunes are improving post-pandemic with stronger tenant demand.
VIANET DIRECTOR CASHES IN ON GOOD NEWS
Stella Panu, non-executive director of Stockton-based technology company Vianet (VNET:AIM) has bought 75,000 shares at 71p for the total value of £52,875 on 13 November.
The move comes as little surprise after the company which provides real-time insights to reduce beverage waste in pubs and bars received a £5.4 million funding package from UK high street bank HSBC (HSBA).
Vianet says it will use the funding to further expand into the US, Europe, and India ‘as well as target new sectors.’
James Dickson, chairman of Vianet, said: People are realising how much real-time tracking data can help improve their product and profit margins. By providing transparency on every drink poured, our comprehensive beverage metrics management solution really does help operators cut waste, drive sales, and improve productivity.’
Year-to-date Vianet shares are up 15%.