- M&G chair buys shares
- Breedon chair ups stake
- Investec director sells shares
Edward Braham, chair of asset manager M&G (MNG), bought 24,600 shares at 204p for a total value of £50,174 on 20 June.
A person closely associated – Isabel Braham - also bought 14,800 shares at 204p for a total value of £30,192 on the same day.
These move comes after the asset manager launched a £150 million bond tender offer as part of an overall plan to reduce total company debt.
Over the past year shares have gained 9%.
BREEDON CHAIR BUILDS STAKE
A person closely associated with Amit Bhatia, non-executive chair of construction materials giant Breedon (BREE:AIM), bought 1,250,000 shares at 385p for a total value of £4,812,500 on 12 June.
The purchase was made through Abicad Holding Limited, similar to a purchase made on the 10 May this year of 1.1 million shares at 383p for a total value of £4,210,250.
Back in April, the firm said trading in the first quarter of the year was impacted by ongoing macroeconomic uncertainty and reduced construction activity due to wet weather.
Breedon will announce its interim results for the six months ending 30 June 2024 on Wednesday 24 July 2024. Over the past year Breedon’s shares have gained 21%.
INVESTEC DIRECTOR SELLS SHARES WORTH £884,998
Nishlan Samujh, chief financial officer at asset manager Investec (INVP), sold 152,486 shares at 580p for a total value of £884,998 on 20 June.
Samujh’s move follows the company’s full year results for the year ending 31 March which showed a 7.1% increase in pre-provision adjusted operating profits to £963.6 million supported by the ‘strength and diversity of our client franchises.’
In September last year, the company completed the merger between Investec & Wealth Investment UK and Rathbones Group.
Over the past year, Investec shares have gained 31% to 569p.
