- Metro Bank executives snap up shares
- Ascential CEO sells 300,000 shares
- Darktrace CEO sells 100,000 shares
Daniel Frumkin, chief executive of Metro Bank (MTRO),bought 5,833,333 shares for a total value of £1,750,000 in this week's capital raise by the 'challenger' financial.
Chief financial officer James Hopkins subscribed for 200,000 shares for a total value of £60,000 in the same placing.
Metro Bank raised a total of £150 million through an issue of 500,000,000 new shares at a price of 30p, substantially increasing its capital base and its market cap.
The equity financing is expected to be followed shortly by the issue of £175 million of MREL notes which will be used to satisfy the Bank of England's minimum requirement for own funds and eligible liabilities.
Last month, Metro Bank shares dropped 30% on the news of the capital raise and debt restructuring.
Meanwhile, Duncan Painter, chief executive of media and events group Ascential (ASCL), sold 300,000 shares at 280p for a total value of £849,198 on 27 November.
This sale of shares by Painter comes after Ascential shares have risen by 24% over the past six months.
Ascential shares rose 35% in a single day when the company said it was selling its digital commerce and product design business for a total of £1.4 billion to US advertising group Omnicom (OMC:NYSE) and Wind UK Bidco 3.
Poppy Gustafsson, chief executive of cybersecurity firm Darktrace (DARK), has also been a seller of late, offloading 100,000 shares at 355p for a total value of £355,000 on 27 November.
The firm was at pains to point out that the amount of shares being sold was less than 3% of Gustafsson's vested and unvested holdings in Darktrace.
Darktrace recently reported a 28% in revenues on 13 October and positive full year guidance, helping lift the shares to 345p for a year-to-gain of more than 30%.