A number of bosses of small-cap companies have showed faith in their business over the past week with several sizeable transactions taking place.
The biggest deal comes from rural broadband supplier Bigblu Broadband (BBB:AIM), with chairman Christopher Mills taking advantage of a recent dip in the company’s share price on Tuesday to buy 2.89 million shares at 78p each, in a transaction worth over £2.2 million.
Mills bought the shares via the investment firm he founded, Harwood Capital.
Mills has already made a decent gain in the past two days, with Bigblu shares since recovering to around 92p. However, its shares have remain relatively subdued over the past few months despite the company announcing three big contract wins since the beginning of September.
PHOTO-ME BOSS CONTINUES TO SHOW FAITH
Another big buyer of their company’s shares in the past week has been Serge Crasnianski, the largest shareholder and chief executive of Photo-Me International (PHTM), who bought 2.5 million shares this week at 53p each, for a total of over £1.3 million.
The deal is the latest in a series of purchases Crasnianski has made in Photo-Me shares this year having bought around £1.9 million of shares, again at 53p each, in September and £772,000 worth in August, with other big purchases made in March, April and May.
Photo-Me’s shares are almost 50% lower year-to-date, and Crasnianski said in July as the company published its full year results to 30 April that the coronavirus pandemic has had a ‘significant impact on all the group’s end markets’, adding that a ‘thorough review of the business is underway’ and that ‘restructuring programmes are being implemented’.
Known for its photobooths, Photo-Me also operates, sells and services a range of kiosks, and in 2012 diversified into laundry with 24/7 outdoor self-service laundry machines and business-to-business laundry services.
OTHER DEALS
Chuk Kin Lau, chief executive of book publisher The Quarto Group (QRT), bought 1.68 million shares on Friday at 54.5p each in a transaction worth over £915,000.
It’s the third purchase Lau has made in Quarto shares this year, having snapped up 400,000 shares in September and another 1.68 million shares in February before the pandemic struck.
Meanwhile Vanessa Perrins, the wife of Rob Perrins - chief executive of housebuilder Berkeley (BKG) - has sold over 16,000 shares in the company at £44.60 each in a deal worth around £715,000.
Berkeley boss Perrins has been in the headlines over the last years when it comes to his share dealings. In September 2019 Perrins sold £12 million worth of shares, cashing in almost a quarter of his stake, which came days after the housebuilder suffered a shareholder revolt over bosses’ pay.
For a full list of the week’s most significant trades, click here.
