- Burford team invest $17.5 million
- Phoenix director raises £538,000
- LXi execs cash in for £47 million
Top executives at litigation finance firm Burford Capital (BUR:AIM) invested a total of $17.5 million (£13.5 million) in the company’s shares earlier this month through its deferred compensation scheme, with chief executive Christopher Bogart committing to 630,249 shares at a cost of £6.65 million.
At the start of the month, Burford reported full-year revenue of $546 million against $1.08 billion previously and EPS (earnings per share) of £0.67 compared with $2.79 previously.
Another insider increasing their stake was Hunting’s (HTG) managing director for Asia-Pacific, Daniel Tan, who scooped up 218,565 shares at 295.5p for a total consideration of just over £645,000 shares.
Hunting announced today its subsea technologies division had won $38 million in new orders including $23 million worth of contracts to decommission two North Sea assets with the possibility of further orders coming in 2026.
HEAVY SELLERS
Investors responded positively to the latest set of results from FTSE 100 savings and insurance provider Phoenix Group (PHNX), sending the shares up more than 10% to a 12-month high of 588p.
Tom Ground, who joined Phoenix from Aviva (AV.) in 2021 and heads up the group’s retirement business, cashed in on the rally by selling 92,360 shares at 583p raising a total of £538,000.
For the year to December, Phoenix posted total cash generation of £1.78 billion, well above the top end of the £1.4 billion to £1.5 billion range of estimates and increased its three-year target from £4.4 billion to £5.1 billion.
Meanwhile, Nick Leslau and Sandy Gumm, former executives of real estate investment trust LXi – which was snapped up by rival LondonMetric (LMP) last year – sold 26.4 million shares in LondonMetric at 178.7p per share netting just over £47 million.
The shares were owned via Prestbury, which managed Secure Income REIT prior to its 2022 merger with LXi, and were subject to a 12-month lock-up.
The subsequent acquisition of LXi by LondonMetric meant the shares were subject to a further 12-month lock-up, which has now expired.
DISCLAIMER: The author owns shares in Phoenix Group
