With interest rates close to rock bottom and consumer price inflation at a five-year low of 1.2 per cent, conditions aren’t ideal for Fairpoint Group (FRP), an Aim-traded provider of individual voluntary arrangements (IVAs). But David Harrel, chairman of the group, has spied an opportunity, taking advantage of the current share price weakness by snapping up another 50,000 shares at 135.5p apiece.
IC TIP:
Buy
at
121p
Mr Harrel’s £67,750 vote of confidence in the group might not be misplaced. Management has been actively reducing the group’s exposure to the IVA market in favour of debt management plans (DMPs), which are the preferred option for many cash-strapped consumers - and creditors - in a low-interest rate environment. This strategic shift gained momentum midway through the year when Fairpoint acquired legal firm Simpson Millar. Fairpoint’s focus on DMPs means it will need to advise its clients on a diverse range of legal issues relating to debt management, so bringing in-house a team of specialist lawyers makes sense.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 7digital | Simon Cole (ce) | 06 Oct 14 | 20,000 | 21.5 | 4,300 | 2,214,544 | 2.062 |
| 7digital | Ben Drury | 06 Oct 14 | 20,000 | 21.5 | 4,300 | 12,786,903 | 11.903 |
| Advanced Oncotherapy | Tim Lebus | 02 Oct 14 | 400,000 | 4.6 | 18,400 | 1,363,000 | 0.133 |
| Alliance Trust | Katherine Garrett-Cox (ce) | 02 Oct 14 | 1,223 | 447.9 | 5,478 | 605,399 | 0.109 |
| Alliance Trust | John Hylands | 02 Oct 14 | 252 | 447.9 | 1,129 | 84,292 | 0.015 |
| Alliance Trust ♥ | Karin Forseke (ch) | 02 Oct 14 | 356 | 447.9 | 1,595 | 101,999 | 0.018 |
| Alliance Trust ♥ | Katherine Garrett-Cox (ce) | 02 Oct 14 | 478 | 447.9 | 2,141 | 605,877 | 0.109 |
| Amlin | Oliver Peterken | 02 Oct 14 | 3,000 | 431.26 | 12,938 | 3,000 | 0.001 |
| Amlin ♥ | Oliver Peterken | 02 Oct 14 | 1,000 | 430.86 | 4,309 | 4,000 | 0.001 |
| BlueRock Diamonds | Paul Beck (ch) | 07 Oct 14 | 50,000 | 11.5 | 5,750 | 1,533,000 | 4.863 |
| Boot (Henry) | John Brown (ch) | 03 Oct 14 | 10,000 | 190 | 19,000 | 35,000 | 0.027 |
| Bovis Homes ♥ | David Ritchie (ce) | 03 Oct 14 | 25,000 | 773.5 | 193,375 | 146,007 | 0.109 |
| Cello | Mark Scott (ce) | 02 Oct 14 | 10,600 | 92 | 9,752 | 964,379 | 1.137 |
| Christie | David Rugg (ce) | 02 Oct 14 | 1,400 | 134 | 1,876 | 2,796,046 | 10.540 |
| Christie | David Rugg (ce) | 02 Oct 14 | 3,700 | 130 | 4,810 | 2,794,646 | 10.535 |
| Cineworld ♥ | Israel Greidinger | 03 Oct 14 | 2,477,017 | 325.61 | 8,065,415 | 73,311,344 | 27.791 |
| Cineworld ♥ | Israel Greidinger | 06 Oct 14 | 1,165,000 | 318.71 | 3,712,972 | 74,476,344 | 28.232 |
| Cineworld ♥ | Moshe Greidinger (ce) | 03 Oct 14 | 2,477,017 | 325.61 | 8,065,415 | 73,311,344 | 27.791 |
| Cineworld ♥ | Moshe Greidinger (ce) | 06 Oct 14 | 1,165,000 | 318.71 | 3,712,972 | 74,476,344 | 28.232 |
| CLS Holdings | John Whiteley (cfo) | 08 Oct 14 | 153 | 1,348 | 2,062 | 13,000 | 0.030 |
| Countrywide | Rupert Gavin | 07 Oct 14 | 2,100 | 477.9 | 10,036 | 4,550 | 0.002 |
| EnQuest | Dr Jim Buckee (ch) | 08 Oct 14 | 52,841 | 94.15 | 49,750 | 2,048,965 | 0.255 |
| Fairpoint | David Harrel (ch) | 06 Oct 14 | 50,000 | 135.5 | 67,750 | 68,450 | 0.156 |
| GameAccount Network | Dermot Smurfit (ce) | 06 Oct 14 | 9,100 | 70 | 6,370 | 7,356,075 | 13.215 |
| GameAccount Network | Dermot Smurfit (ce) | 03 Oct 14 | 20,000 | 69.75 | 13,950 | 7,346,975 | 13.198 |
| Goals Soccer Centres | Keith Rogers | 02 Oct 14 | 13,460 | 222.5 | 29,949 | 4,030,446 | 6.894 |
| Imaginatik | Matt Cooper (ch) | 06 Oct 14 | 200,000 | 3.75 | 7,500 | 13,420,317 | 21.735 |
| Infrastructure India | Sonny Lulla (ce) | 06 Oct 14 | 300,000 | 11.75 | 35,250 | 650,000 | 0.096 |
| International Ferro Metals | Janie Muller (fd) | 03 Oct 14 | 150,000 | 7.1 | 10,650 | 400,000 | 0.072 |
| International Ferro Metals | Stephen Turner | 03 Oct 14 | 200,000 | 7.1 | 14,200 | 7,591,667 | 1.370 |
| International Ferro Metals | Tony Grey (ch) | 03 Oct 14 | 200,000 | 7.1 | 14,200 | 1,766,667 | 0.319 |
| International Ferro Metals | Chris Jordaan (ce) | 03 Oct 14 | 100,000 | 7.1 | 7,100 | 400,000 | 0.072 |
| International Ferro Metals | Stephen Oke | 03 Oct 14 | 100,000 | 7.1 | 7,100 | 350,000 | 0.063 |
| International Ferro Metals | Terry Willsteed | 03 Oct 14 | 150,000 | 7.1 | 10,650 | 1,500,000 | 0.271 |
| International Ferro Metals | John Ballard | 03 Oct 14 | 200,000 | 7.1 | 14,200 | 700,000 | 0.126 |
| International Ferro Metals | Tian Xia | 03 Oct 14 | 200,000 | 7.1 | 14,200 | 466,667 | 0.084 |
| International Ferro Metals | Xiaoping Yang | 03 Oct 14 | 200,000 | 7.1 | 14,200 | 466,667 | 0.084 |
| ITE | Sharon Baylay | 02 Oct 14 | 5,300 | 169.5 | 8,984 | 10,300 | 0.004 |
| Jardine Lloyd Thompson | Dominic Burke (ce) | 03 Oct 14 | 10,000 | 939.5 | 93,950 | 265,331 | 0.121 |
| Kalimantan Gold Corp ♥ | F Ismail (ce) | 03 Oct 14 | 100,000 | 2.75 | 2,750 | 5,116,000 | 2.985 |
| Kirkland Lake Gold Inc | Dawn Whittaker | 02 Oct 14 | 500 | 310.15 | 1,551 | 3,920 | 0.005 |
| Kirkland Lake Gold Inc | Dawn Whittaker | 02 Oct 14 | 500 | 310.15 | 1,551 | 4,420 | 0.006 |
| Mercantile Investment Trust (The) | Jeremy Tigue | 02 Oct 14 | 1,781 | 1,396 | 24,863 | 7,226 | 0.007 |
| Nighthawk Energy | Rick McCullough (ch) | 03 Oct 14 | 1,100,000 | 9.13 | 100,430 | 1,100,000 | 0.115 |
| Ortac Resources | Anthony Balme (ch) | 08 Oct 14 | 2,500,000 | 0.182 | 4,550 | 176,873,463 | 7.031 |
| Ortac Resources ♥ | A D N Balme (ch) | 08 Oct 14 | 2,500,000 | 0.18 | 4,500 | 179,373,463 | 7.130 |
| Pantheon Resources * | Justin Hondris (fd) | 02 Oct 14 | 127,968 | 20 | 25,594 | 1,062,968 | 0.660 |
| Pantheon Resources * | John Walmsley (ch) | 02 Oct 14 | 479,883 | 20 | 95,977 | 1,589,821 | 0.987 |
| Pantheon Resources * | John Cheatham (ce) | 02 Oct 14 | 469,871 | 20 | 93,974 | 3,299,120 | 2.048 |
| Pittards | Stephen Boyd (ch) | 02 Oct 14 | 9,000 | 114 | 10,260 | 171,666 | 1.853 |
| RapidCloud International | Chee Han Wen | 03 Oct 14 | 16,500 | 49 | 8,085 | 9,300,390 | 50.327 |
| Reed Elsevier | Dr Wolfhart Hauser | 08 Oct 14 | 4,107 | 968.87 | 39,791 | 4,107 | <0.001 |
| Rolls-Royce Holdings | John Neill | 07 Oct 14 | 335 | 947 | 3,172 | 44,201 | 0.002 |
| Senior ♥ | Derek Harding (fd) | 03 Oct 14 | 10,000 | 265.1 | 26,510 | 67,405 | 0.016 |
| TomCo Energy * | Mikka Haromo (fd) | 02 Oct 14 | 2,673,327 | 0.5 | 13,367 | 2,673,327 | 0.143 |
| TomCo Energy * | Sir Nicholas Bonsor (ch) | 02 Oct 14 | 1,550,011 | 5 | 77,501 | 1,550,011 | 0.075 |
| TomCo Energy * | Paul Rankine (ce) | 02 Oct 14 | 3,564,436 | 0.5 | 17,822 | 4,859,737 | 0.260 |
| Treatt | Tim Jones (ch) | 07 Oct 14 | 4,775 | 141.25 | 6,745 | 67,270 | 0.131 |
| Venture Life | Dr Lynn Drummond (ch) | 03 Oct 14 | 11,222 | 89 | 9,988 | 11,222 | 0.038 |
| Venture Life | Jerry Randall (ce) | 07 Oct 14 | 10,000 | 94 | 9,400 | 3,922,129 | 13.116 |
| Venture Life | John Sylvester | 03 Oct 14 | 10,000 | 86.89 | 8,689 | 10,000 | 0.033 |
| Venture Life ♥ | Ian Mackinnon | 03 Oct 14 | 10,000 | 83 | 8,300 | 10,000 | 0.033 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Glanbia | Patrick Gleeson | 08 Oct 14 | 13,000 | 1,133 | 147,290 | 10,171 | 0.003 |
| Microsaic Systems | Andrew Holmes | 07 Oct 14 | 100,000 | 42 | 42,000 | 2,836,656 | 4.498 |
| Powerflute Oyj | Dermot Smurfit | 02 Oct 14 | 50,000 | 46 | 23,000 | 3,350,000 | 1.179 |
| Powerflute Oyj | Dermot Smurfit | 02 Oct 14 | 200,000 | 45 | 90,000 | 3,150,000 | 1.109 |
| Powerflute Oyj | Dermot Smurfit | 03 Oct 14 | 1,150,000 | 45 | 517,500 | 2,000,000 | 0.704 |
| Proton Power Systems | Thomas Melczer | 08 Oct 14 | 300,000 | 6.25 | 18,750 | 500,000 | 0.078 |
| Rotala ♥ | Dr John Gunn (ch) | 07 Oct 14 | 900,000 | 55 | 495,000 | 9,671,837 | 27.248 |
| S&U | Anthony Coombs (ch) | 06 Oct 14 | 120,000 | 1,920 | 2,304,000 | 1,334,027 | 11.273 |
| Somero Enterprises Inc | Jack Cooney (ce) | 02 Oct 14 | 1,412,468 | 128 | 1,807,959 | 2,814,634 | 5.009 |
| * placing/tender/open offer ♥ spouse/connected party † Depositary receipts | |||||||
