- Metro Bank executives snap up shares
- Ascential CEO sells 300,000 shares
- Darktrace CEO sells 100,000 shares
Daniel Frumkin, chief executive of Metro Bank (MTRO),bought 5,833,333 shares for a total value of £1,750,000 in this week's capital raise by the 'challenger' financial.
Chief financial officer James Hopkins subscribed for 200,000 shares for a total value of £60,000 in the same placing.
Metro Bank raised a total of £150 million through an issue of 500,000,000 new shares at a price of 30p, substantially increasing its capital base and its market cap.
The equity financing is expected to be followed shortly by the issue of £175 million of MREL notes which will be used to satisfy the Bank of England's minimum requirement for own funds and eligible liabilities.
Last month, Metro Bank shares dropped 30% on the news of the capital raise and debt restructuring.
Metro Bank shares nosedive on report of capital raise to shore up finances
Meanwhile, Duncan Painter, chief executive of media and events group Ascential (ASCL), sold 300,000 shares at 280p for a total value of £849,198 on 27 November.
This sale of shares by Painter comes after Ascential shares have risen by 24% over the past six months.
Ascential shares rose 35% in a single day when the company said it was selling its digital commerce and product design business for a total of £1.4 billion to US advertising group Omnicom (OMC:NYSE) and Wind UK Bidco 3.
Poppy Gustafsson, chief executive of cybersecurity firm Darktrace (DARK), has also been a seller of late, offloading 100,000 shares at 355p for a total value of £355,000 on 27 November.
The firm was at pains to point out that the amount of shares being sold was less than 3% of Gustafsson's vested and unvested holdings in Darktrace.
Darktrace recently reported a 28% in revenues on 13 October and positive full year guidance, helping lift the shares to 345p for a year-to-gain of more than 30%.