- Harbour chairman sells big chunk
- Energean directors buy up stock
- Filtronic CEO buys £24,986 shares
EIG Separate Investments (Cayman), an entity closely associated with R. Blair Thomas, chairman of FTSE 250 oil and gas company Harbour Energy (HBR), sold 6,653,009 million Harbour shares at 206p for a total value of £13,705,198.54 on 25 March.
The disposal comes after the North Sea producer swung to an annual loss on 6 March of £72.1 million from a profit of £35.3 million the previous year.
North Sea producers have been hit by a windfall tax in the UK which demands an additional 38% levy on oil and gas profit.
The tax was introduced in the wake of the Russian invasion of Ukraine in 2022, when energy prices soared, and the Labour government has outlined plans to end it by 2030.
Harbour Energy shares were sold off heavily in the recent market turmoil, hitting a new 12-month low on 7 April.
ENERGEAN DIRECTORS BUY SHARES
Growthy Holdings, an entity closely associated with Mathios Rigas, chief executive of oil and gas firm Energean (ENOG), bought 80,989 shares in the company at 856p for a total value of £693,618 shares on 21 March.
Other directors followed suit, including non-executive director Efstathios Topouzoglou and chief financial officer Panos Benos, who bought £1,698,196 worth of shares at 849p and £299,200 worth of shares at 880p respectively on 21 March.
The directors’ move could be seen as a vote of confidence in the company’s strategy after it ended the proposed sale of its portfolio in Egypt, Italy and Croatia to an entity controlled by Carlyle International Energy Partners.
Rigas said the decision was ‘in the best interests of all stakeholders, employees, investors, host governments and partners.’
Over the past year, Energean shares have fallen 26% to 760p.
FILTRONIC DIRECTOR SNAPS UP SHARES
Nat Edington, chief executive of communications kit designer Filtronic (FTC:AIM), bought 26,334 shares at 94.88p for a total value of £24,986 on 2 April.
Edington’s move provides a further boost to the AIM-listed company whose shares hit an all-time high of 107p in February this yea, after it announced a further contract win with Elon Musk’s Space X.
The contract, valued at £16.8 million, is to be fulfilled over full year 2025 and full year 2026.
Over the past year, Filtronic shares have gained 124%.
