- hVIVO directors sell shares ‘to meet demand’
- Greencore director buys £50,000 shares
Cathal Friel, co-founder and chairman of infectious and respiratory diseases company hVIVO (HVO:AIM), sold 25,937,909 shares at 28p for a total value of £7,262,615 on 14 February.
Brendan Buckley, non-executive of the company, sold 4,017,269 also at 28p for a total value of £1,124,835 on the same day.
Therefore the total number of shares sold by both directors is 29,955,178 or roughly 4.4% of the company’s issued share capital.
In a statement the company said: ‘Following a series of meetings with both new and existing institutional investors, it became apparent that demand for ordinary shares was in excess of those readily available for sale.
‘The selling shareholders recognise the strategic importance to hVIVO of a strong and supportive institutional shareholder base and have therefore decided to release a portion of their own holdings in order to help satisfy this demand.’
Cavendish Capital Markets and Peel Hunt will manage the secondary placing, while hVIVO shares are up 34% over the past year.
GREENCORE DIRECTOR SNAPS UP £50,000 SHARES
Linda Hickey, non-executive director of convenience food manufacturer Greencore (GNC), bought 50,000 shares at 100p for a total value of £50,000 on 15 February.
Over the past year Greencore shares have performed well gaining 33%.
Last October, the UK’s largest sandwich maker raised its annual profit forecast in an unscheduled trading update for the fourth quarter and the year ending 29 September 2023.
Greencore also said in the unscheduled trading update that it intends to return a further £15 million to shareholders ‘in the form of an additional share buyback programme’ and as part of the wider commitment to return £50 million to shareholders by May 2024.
The company, which supplies sandwiches, salads and sushi to supermarkets and cafes has benefited from workers recent return to the office post-pandemic.
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