Tony Rice, the chief executive officer of Cable & Wireless Communications (CWC), has been busy buying into his company. He forked out some £716,000 and bought two million shares in two tranches. This took place a week after the half-year management statement was released, providing an update on the company's trading and financial position.
The highlights of this statement indicated strong performance in Macau and the Bahamas, while in the rest of the Caribbean and Monaco trading was in line with guidance, although Panama was making disappointing progress. Mr Rice also noted that net debt was down $18m since 30 September 2011 and in the last four months the company raised $1bn of financing. "We have positioned ourselves to take advantage of mobile data growth with the launch of high speed mobile data networks in Panama, Barbados, Cayman and Bahamas during the last four months," he said.
The share price has been falling these past few weeks and now stands at 34p, a couple of pence below the price Mr Rice bought his shares, and is certainly in need of a boost. Hold.
Robert Ansted
Director buys
| Company | Director | Date | No. of shares | Price (p) | Value (£) |
|---|---|---|---|---|---|
| Alumasc | Paul Hooper (ceo) | 16 Feb 12 | 37,856 | 92 | 34,828 |
| Assura | Simon Laffin (ch) | 20 Feb 12 | 79,365 | 31.5 | 25,000 |
| Braemar Shipping | Alan Marsh (ceo) | 16 Feb 12 | 7,176 | 338.14 | 24,265 |
| Braemar Shipping | Alan Marsh (ceo) | 17 Feb 12 | 2,824 | 347 | 9,799 |
| Cable & Wireless Commns | Tony Rice | 17 Feb 12 | 529,739 | 35.7394 | 189,326 |
| Cable & Wireless Commns | Tony Rice | 20 Feb 12 | 1,470,261 | 35.814 | 526,559 |
| City of London Inv Trust | Mr P Remnant | 15 Feb 12 | 3,500 | 269 | 9,415 |
| City of London Inv Trust | P Remnant | 15 Feb 12 | 3,500 | 296 | 10,360 |
| Conygar Investment | Michael Wigley | 20 Feb 12 | 119,000 | 95 | 113,050 |
| Dixons Retail | John Allan | 16 Feb 12 | 100,000 | 14.08 | 14,080 |
| Dixons Retail | John Allan | 16 Feb 12 | 150,000 | 13.99 | 20,985 |
| Frontera Resources | Steve Nicandros (ch, ceo) | 14 Feb 12 | 1,230,000 | 1.07 | 13,161 |
| HydroDec | Andrew Black | 17 Feb 12 | 1,000,000 | 14.375 | 143,750 |
| Ideagen | Jonathan Wearing (ch) | 16 Feb 12 | 25,000 | 13.1 | 3,275 |
| Kofax | Reynolds Bish (ceo) | 17 Feb 12 | 40,000 | 300.5 | 120,200 |
| Mytrah Energy | Alastair Cade | 17 Feb 12 | 10,000 | 95 | 9,500 |
| New City High Yield | Gavin Breeze | 17 Feb 12 | 100,000 | 59.4 | 59,400 |
| New City High Yield | Gavin Breeze | 22 Feb 12 | 320,000 | 60.1578 | 192,505 |
| Pennon | Martin Hagen | 15 Feb 12 | 3,600 | 686.945 | 24,730 |
| Pennon | Simon Catford | 21 Feb 12 | 3,000 | 696.2 | 20,886 |
| Picton Property | Roger Lewis | 16 Feb 12 | 50,000 | 41.5 | 20,750 |
| Pinnacle Telecom | Alan Bonner (ceo) | 21 Feb 12 | 3,670,659 | 0.38 | 13,949 |
| Scapa | Heejae Chae | 20 Feb 12 | 18,374 | 53.8 | 9,885 |
| Scapa | James Simpson Wallace | 20 Feb 12 | 20,000 | 54.45 | 10,890 |
| Segro | Nigel Rich | 21 Feb 12 | 10,000 | 232.99 | 23,299 |
| Sound Oil | Gerry Orbell(ch, ceo) | 15 Feb 12 | 1,000,000 | 1.4 | 14,000 |
| Tate & Lyle | William Camp | 15 Feb 12 | 400 | 719.02 | 2,876 |
| Telecom Plus | Julian Schild (d ch) | 14 Feb 12 | 5,000 | 647.5 | 32,375 |
| Terrace Hill | Robert Adair (ch) | 16 Feb 12 | 500,000 | 12.5 | 62,500 |
| Terrace Hill | Robert Adair (ch) | 17 Feb 12 | 500,000 | 12.5 | 62,500 |
| Thorntons | John von Spreckelsen (ch) | 15 Feb 12 | 402,301 | 19.68 | 79,173 |
| Thorntons | Mark Robson | 15 Feb 12 | 24,744 | 19.68 | 4,870 |
| Thorntons | Mike Killick | 15 Feb 12 | 251,438 | 19.68 | 49,483 |
| Thorntons | John von Spreckelsen (ch) | 21 Feb 12 | 400,000 | 24.8 | 99,200 |
| Witan Investment Trust | Andrew Bell | 20 Feb 12 | 10,000 | 490 | 49,000 |
Director sells
| Company | Director | Date | No. of shares | Price (p) | Value (£) |
|---|---|---|---|---|---|
| Atkins, WS | Alun Griffiths | 15 Feb 12 | 13,200 | 769 | 101,442 |
| Diploma | I Henderson | 17 Feb 12 | 35,000 | 391 | 136,850 |
| Energy XXI | William Colvin | 21 Feb 12 | 7,000 | $38.62 | $270,340 |
| Homeserve | Rachel Hughes | 20 Feb 12 | 28,000 | 238 | 66,517 |
| InterContinental Hotels | George Turner | 17 Feb 12 | 3,000 | 1,413.00 | 42,390 |
| MP Evans | Mr JD Shaw | 15 Feb 12 | 10,000 | 441 | 44,100 |
| Pennon | Dr Stephen Bird | 16 Feb 12 | 207 | 694.67 | 1,438 |
| Rathbone Brothers | Richard Lanyon | 21 Feb 12 | 3,000 | 1,275.00 | 38,250 |
| SThree | Russell Clements | 22 Feb 12 | 5,660 | 294.50 | 16,669 |
| SThree | Alex Smith | 22 Feb 12 | 4,203 | 294.50 | 12,378 |
| Surgical Innovations | Graham Bowland (ceo) | 17 Feb 12 | 5,889,000 | 10.50 | 618,345 |
Table compiled by Robert Ansted.
Key to abbreviations: ch = chairman; ce = chief executive; cfo = chief financial officer; fd = finance director; coo = chief operating officer; cs =company secretary; md = managing director
