Executives that alter a company's strategy risk dividing its investors. Informa (INF) chief Stephen Carter knows one way to win their support: he recently shelled out £149,000 for 31,324 shares in the ailing events and academic publishing group.
The former Ofcom chief has made important changes at Informa since his appointment 18 months ago. The group recently agreed to acquire Hanley Wood Exhibitions, a US-based organiser of construction and real estate events, for £237m. However, the share placing intended to fund the deal only garnered £207m in gross proceeds.
Mr. Carter has begun overhauling Informa's weak business intelligence division, but closures and disposals are yet to come. Management expect to invest £60m-90m to improve divisional sales and products, which may depress margins over the next couple of years.
Broker N+1 Singer doesn't foresee any real progress at Informa until 2017. It forecasts full-year pre-tax profits of £307m, giving EPS of 39.5p, down from £308m and 40.1p.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Augean | Jim Meredith (ch) | 03 Dec 14 | 175,000 | 56 | 98,000 | 500,000 | 0.496 |
| Better Capital | Jonathan Moulton | 02 Dec 14 | 3,600,000 | 82.85 | 2,982,600 | 23,123,809 | 11.183 |
| Better Capital | Jonathan Moulton | 04 Dec 14 | 1,000,000 | 80.1 | 801,000 | 35,761,905 | 10.320 |
| Better Capital | Richard Battey | 08 Dec 14 | 30,000 | 86 | 25,800 | 60,000 | 0.029 |
| Eden Research * | Tom Lupton (ch) | 28 Nov 14 | 333,333 | 7.5 | 25,000 | 403,333 | 0.262 |
| Eden Research * | Ken Brooks | 28 Nov 14 | 333,333 | 7.5 | 25,000 | 2,319,269 | 1.505 |
| Energy XXI | Hill Feinberg | 01 Dec 14 | 25,000 | 330 | 82,500 | 189,751 | 0.202 |
| Energy XXI | John Schiller (ch & ce) | 01 Dec 14 | 25,000 | 345 | 86,250 | 1,381,485 | 1.469 |
| EnQuest | Dr Jim Buckee (ch) | 28 Nov 14 | 100,000 | 52.8 | 52,800 | 3,288,424 | 0.410 |
| EnQuest | Dr Jim Buckee (ch) | 02 Dec 14 | 100,000 | 44.98 | 44,980 | 3,155,903 | 0.393 |
| EnQuest ♥ | Neil McCulloch | 26 Nov 14 | 15,122 | 65.7 | 9,935 | 15,122 | 0.002 |
| Filtronic * | Alan Needle (ce) | 03 Dec 14 | 440,910 | 22 | 97,000 | 2,687,052 | 2.514 |
| Filtronic * | Graham Meek | 03 Dec 14 | 25,000 | 22 | 5,500 | 114,722 | 0.107 |
| Filtronic * | Howard Ford (ch) | 03 Dec 14 | 13,578 | 22 | 2,987 | 120,000 | 0.112 |
| Filtronic * | Reg L Gott | 03 Dec 14 | 52,270 | 22 | 11,499 | 154,429 | 0.144 |
| Filtronic * | Rob Smith (cfo) | 03 Dec 14 | 45,454 | 22 | 10,000 | 57,656 | 0.054 |
| Fisher (James) & Sons ♥ | Nick Henry (ce) | 27 Nov 14 | 3,858 | 1,042 | 40,200 | 139,657 | 0.279 |
| Fisher (James) & Sons † | Stuart Kilpatrick (fd) | 28 Nov 14 | 250 | 1,046 | 2,615 | 15,289 | 0.031 |
| HSBC Holdings | Rona Fairhead | 27 Nov 14 | 53,600 | 631.17 | 338,307 | 76,300 | <0.001 |
| Informa | Stephen Carter (ce) | 28 Nov 14 | 31,324 | 475.3 | 148,883 | 36,324 | 0.006 |
| ITE | Marco Sodi (ch) | 08 Dec 14 | 6,096 | 155 | 9,449 | 120,699 | 0.060 |
| ITE | Marco Sodi (ch) | 08 Dec 14 | 18,904 | 155 | 29,301 | 150,000 | 0.060 |
| KBC Advanced Technologies ♥ | Oliver Scott | 02 Dec 14 | 100,000 | 87.57 | 87,570 | 9,470,928 | 11.611 |
| KEFI Minerals * | Harry Anagnostaras-Adams (ch) | 02 Dec 14 | 20,000,000 | 1 | 200,000 | 33,966,667 | 3.018 |
| KEFI Minerals * | Ian Plimer | 02 Dec 14 | 1,250,000 | 1 | 12,500 | 4,366,668 | 0.388 |
| KEFI Minerals * | John Leach (fd) | 02 Dec 14 | 1,250,000 | 1 | 12,500 | 2,250,000 | 0.200 |
| KEFI Minerals * | Jeffrey Rayner | 02 Dec 14 | 2,600,000 | 1 | 26,000 | 7,383,333 | 0.656 |
| MS International ♥ | Michael O'Connell (fd) | 03 Dec 14 | 2,795 | 151 | 4,220 | 1,529,285 | 9.130 |
| Omega Diagnostics † | Andrew Shepherd (ce) | 28 Nov 14 | 30,974 | 17 | 5,266 | 2,708,180 | 2.490 |
| Petroceltic International | Brian O'Cathain (ce) | 01 Dec 14 | 106,660 | 115.8 | 123,512 | 377,733 | 0.176 |
| Rio Tinto | Ann Godbehere | 01 Dec 14 | 100 | 2,979.50 | 2,980 | 6,431 | <.001 |
| Rio Tinto | Ann Godbehere | 01 Dec 14 | 1,000 | 2,979.82 | 29,798 | 8,561 | 0.001 |
| Rio Tinto | Ann Godbehere | 01 Dec 14 | 1,130 | 2,979.76 | 33,671 | 7,561 | 0.001 |
| Rio Tinto | John Varley | 01 Dec 14 | 6,700 | 2,952.48 | 197,816 | 9,685 | 0.001 |
| Safestyle UK ♥ | Christopher Davies | 02 Dec 14 | 7,500 | 178 | 13,350 | 120,000 | 0.154 |
| Spirax-Sarco Engineering ♥ | James Whalen | 27 Nov 14 | 858 | 2928 | 25,122 | 8,635 | 0.011 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Avon Rubber | Stella Pirie | 01 Dec 14 | 21,000 | 725.5 | 152,355 | 52,000 | 0.168 |
| Croda International ♥ | Dr Keith Layden | 28 Nov 14 | 634 | 2,456.5 | 15,574 | 75,514 | 0.056 |
| Ebiquity | AW Beach (fd) | 28 Nov 14 | 60,280 | 105 | 63,294 | 20,000 | 0.026 |
| Immunodiagnostic Systems Holdings | Dr Patrick Dahlen (ce) | 03 Dec 14 | 44,751 | 323 | 144,546 | 0 | 0.000 |
| ITE | Russell Taylor (ce) | 02 Dec 14 | 500,000 | 151 | 755,000 | 1,500,000 | 0.601 |
| Merlin Entertainments ** | Andrew Carr (cfo) | 03 Dec 14 | 945,000 | 383.9 | 3,627,855 | 2,835,123 | 0.280 |
| Rotala | Dr John Gunn (ch) | 02 Dec 14 | 100,000 | 53.5 | 53,500 | 9,457,447 | 24.581 |
| Solid State | Tony Frere (ch) | 28 Nov 14 | 50,000 | 650 | 325,000 | 56,000 | 0.672 |
| Solid State | Gordon Comben | 28 Nov 14 | 250,000 | 650 | 1,625,000 | 1,650,000 | 19.804 |
| Solid State | Gary Marsh (ce) | 28 Nov 14 | 100,000 | 650 | 650,000 | 443,439 | 5.322 |
| Solid State | John Lavery | 28 Nov 14 | 400,000 | 650 | 2,600,000 | 69,827 | 0.838 |
| Solid State | Bill Marsh | 28 Nov 14 | 150,000 | 650 | 975,000 | 1,150,000 | 13.803 |
| Young & Co's Brewery ♥ | Peter Whitehead (fd) | 02 Dec 14 | 2,900 | 1,030 | 29,870 | 1,253,988 | 4.281 |
* placing/tender/open offer ♥ spouse/connected party † SIPP ** Share Plan as nominee | |||||||
