- Insurance non-exec buys shares
- Big Technologies sets up employees trust
- Midwich director buys after strong results
Mohit Joshi, a non-executive director at UK insurer Aviva (AV.), bought 59,300 shares at 409p on 12 October for a total value of £242,537.
The deal comes after several Aviva employees bought shares over the past few weeks, including chairman George Culmer and chief executive Amanda Blanc, each of whom acquired just over £100,000 shares in the UK insurer.
Aviva’s shares have lost over 8% year-to-date, but analysts have applauded the firm's recent acquisition of AIG’s UK protection business and there has been media speculation the firm could be a takeover target with one source suggesting a 600p per share offer could be in the works.
BIG TECHNOLOGIES EMPLOYEES SETS UP BENEFIT TRUST
Daren Morris, chief financial officer of Big Technologies (BIG), bought 75,000 shares at 200p on 10 October at a cost of £150,000 and a further 100,000 shares at the same price the following day at a cost of £200,000.
The combined purchase of £350,000 comes after the UK-based remote people monitoring technology company set up an employee benefit trust (EBT) on 21 September.
The trust will be funded by the company and will hold shares for the benefit of employees ‘to satisfy the vesting of awards made under the company’s share incentive schemes’. Morris and Oliver Bonwick, group financial controller, are trustees.
Year-to-date, Big Technologies’ shares are down over 28% to 197p mark.
MIDWICH’S FENBY BUYS 25,000 SHARES
Stephen Fenby, group managing director of global trade specialist audio visual distributor Midwich Group (MIDW:AIM), bought 25,000 shares at 400p on 11 October for a total value of £99,968.
Following this purchase, Fenby and persons closely associated with him have an interest in 17,307,000 million shares, representing 16.8% of the company’s share capital.
In early September, the company reported strong first-half results with revenue jumping 46% year-on-year to £568.6 million despite challenging macroeconomic conditions.
Investment bank Berenberg commented: ‘We keep our forecasts unchanged yet remain confident that the company may have further positive news to share if current trend rates continue in the second half of 2022.’
Year-to-date Midwich shares are down over 2% at 407p.
