Medical centre landlord Primary Health Properties (PHP) already owns 280 purpose-built medical centres, but there is a crying need for many more. Most GP surgeries are simply not suitable for enlargement to contain an improved range of facilities to take some of the workload from hard-pressed NHS facilities.
So, in March, the group announced plans to raise £120m through a share placing. But such has been the demand that this was increased to £150m, and the offer was still significantly oversubscribed. And in a departure from the norm, half of the new shares were offered to new and existing shareholders rather than just being placed with institutional investors. It goes some way to highlighting the group's strong growth potential that several board members took advantage of the offer, and the funds raised will be used to expand the portfolio both in the UK and Ireland, where there is already a pipeline of opportunities. Crucially, PHP enjoys an extremely robust revenue stream, with nearly all the rental stream paid by the UK Treasury via GPs.
| Buys | |||||||
|---|---|---|---|---|---|---|---|
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 1pm♥ | Ron Russell | 14 Apr 16 | 30,000 | 67 | 20,100 | 10,218,300 | 19.451 |
| Aberforth Smaller Companies Trust | S P Trickett (ch) | 15 Apr 16 | 1,590 | 1035 | 16,457 | 6,860 | 0.007 |
| Bailey (C H) | Charles Bailey (ceo) | 20 Apr 16 | 69,600 | 150 | 104,400 | 5,347,286 | 70.074 |
| Cenkos Securities | Jim Durkin (ceo) | 14 Apr 16 | 16,410 | 135.2 | 22,186 | 4,974,456 | 8.774 |
| Cenkos Securities | Jim Durkin (ceo) | 15 Apr 16 | 10,000 | 145 | 14,500 | 4,984,456 | 8.792 |
| Cenkos Securities | Paul Hodges | 14 Apr 16 | 16,410 | 135.2 | 22,186 | 5,081,813 | 8.963 |
| Cenkos Securities | Paul Hodges | 15 Apr 16 | 10,000 | 145 | 14,500 | 5,091,813 | 8.981 |
| Charles Taylor | Mark Keogh (cfo) | 20 Apr 16 | 10,989 | 273 | 30,000 | 27,938 | 0.042 |
| Chrysalis VCT | Peter Harkness (ch) | 20 Apr 16 | 42,500 | 60 | 25,500 | 243,418 | 0.814 |
| Concurrent Technologies | David Evans-Hughes | 19 Apr 16 | 6,800 | 72.5 | 4,930 | 885,006 | 1.219 |
| Concurrent Technologies | Glen Fawcett | 18 Apr 16 | 7,303 | 70.375 | 5,139 | 1,688,181 | 2.326 |
| Concurrent Technologies | Jane Annear | 19 Apr 16 | 7,000 | 71 | 4,970 | 1,855,096 | 2.556 |
| Dunelm | Keith Down (cfo) | 20 Apr 16 | 3,246 | 915 | 29,701 | 8,511 | 0.004 |
| Essentra♥ | Paul Lester | 18 Apr 16 | 7,500 | 822.5 | 61,688 | 7,500 | 0.003 |
| F&C Private Equity Trust | John Rafferty | 15 Apr 16 | 3,000 | 247.18 | 7,415 | 38,000 | 0.052 |
| Foreign & Colonial Investment Trust | Nicholas Moakes | 18 Apr 16 | 5,000 | 440.31 | 22,016 | 76,252 | 0.014 |
| Hansteen Holdings | David Rough | 20 Apr 16 | 7,500 | 106.85 | 8,014 | 67,500 | 0.009 |
| Hansteen Holdings♥ | David Rough | 20 Apr 16 | 7,500 | 106.85 | 8,014 | 75,000 | 0.010 |
| Hilton Food | Christine Cross | 15 Apr 16 | 5,000 | 580 | 29,000 | 5,000 | 0.007 |
| hVIVO | Jaime Ellertson (ch) | 19 Apr 16 | 7,731 | 181.5 | 14,032 | 38,693 | 0.050 |
| hVIVO | Jim Winschel | 19 Apr 16 | 2,204 | 181.5 | 4,000 | 30,340 | 0.039 |
| John Laing | Olivier Brousse (ceo) | 15 Apr 16 | 8,800 | 225.16 | 19,814 | 118,734 | 0.032 |
| Jupiter European Opportunities Trust | Andrew Lang Sutch | 19 Apr 16 | 462 | 540.125 | 2,495 | 8,316 | 0.007 |
| Jupiter European Opportunities Trust | John Wallinger | 19 Apr 16 | 10,000 | 540.5 | 54,050 | 256,000 | 0.229 |
| Lloyds Banking | António Horta-Osório (ceo) | 18 Apr 16 | 2,803 | 67.4 | 1,889 | 11,765,058 | 0.016 |
| MJ Gleeson♥ | Jolyon Harrison (ceo) | 14 Apr 16 | 4,150 | 571 | 23,697 | 1,709,115 | 3.158 |
| Morgan Advanced Materials | Peter Turner (cfo) | 18 Apr 16 | 40,000 | 218.6252 | 87,450 | 40,000 | 0.014 |
| MySale | Iain McDonald (ch) | 15 Apr 16 | 100,000 | 50.9915 | 50,992 | 248,482 | 0.164 |
| Premier Oil | Anne Marie Cannon | 14 Apr 16 | 10,000 | 51.93 | 5,193 | 10,000 | 0.002 |
| Primary Health Properties* | Ian Rutter | 14 Apr 16 | 4,278 | 100 | 4,278 | 52,686 | 0.009 |
| Primary Health Properties* | Ian Rutter | 14 Apr 16 | 9,000 | 100 | 9,000 | 56,058 | 0.009 |
| Primary Health Properties* | Geraldine Kennell | 14 Apr 16 | 25,000 | 100 | 25,000 | 25,000 | 0.004 |
| Primary Health Properties*♥ | Alun Jones (ch) | 14 Apr 16 | 9,000 | 100 | 9,000 | 110,000 | 0.018 |
| Primary Health Properties*♥ | Alun Jones (ch) | 14 Apr 16 | 11,000 | 100 | 11,000 | 110,000 | 0.018 |
| Primary Health Properties*♥ | Harry Hyman | 14 Apr 16 | 28,919 | 100 | 28,919 | 2,645,198 | 0.443 |
| Primary Health Properties*♥ | Harry Hyman | 14 Apr 16 | 50,000 | 100 | 50,000 | 2,644,844 | 0.592 |
| Primary Health Properties* | Mark Creedy | 14 Apr 16 | 4,800 | 100 | 4,800 | 52,800 | 0.012 |
| Primary Health Properties*♥ | Phil Holland (fd) | 14 Apr 16 | 33,409 | 100 | 33,409 | 44,229 | 0.007 |
| Primary Health Properties*♥ | Steven Owen | 14 Apr 16 | 3,708 | 100 | 3,708 | 52,787 | 0.009 |
| Primary Health Properties*♥ | Steven Owen | 14 Apr 16 | 12,000 | 100 | 12,000 | 52,788 | 0.009 |
| Real Estate Investors | Marcus Daly (fd) | 18 Apr 16 | 156,667 | 62 | 97,134 | 1,500,000 | 0.805 |
| Real Estate Investors | Paul Bassi (ceo) | 18 Apr 16 | 341,667 | 62 | 211,834 | 10,000,000 | 5.364 |
| Silence Therapeutics | Ali Mortazavi (ceo) | 18 Apr 16 | 160,000 | 125 | 200,000 | 1,937,399 | 2.776 |
| Silence Therapeutics | Stephen Parker (ch) | 18 Apr 16 | 6,478 | 123.31 | 7,988 | 6,478 | 0.009 |
| Surface Transforms | David Bundred (ch) | 14 Apr 16 | 20,000 | 18.14 | 3,628 | 733,341 | 0.814 |
| Surface Transforms*♥ | David Bundred (ch) | 14 Apr 16 | 37,594 | 16 | 6,015 | 713,341 | 0.851 |
| Surface Transforms* | Kevin D'Silva | 14 Apr 16 | 81,073 | 16 | 12,972 | 907,276 | 1.007 |
| Surface Transforms* | Richard Gledhill | 14 Apr 16 | 516,876 | 16 | 82,700 | 11,818,853 | 13.119 |
| Tribal | Ian Bowles | 19 Apr 16 | 1,136,363 | 22 | 250,000 | 1,136,363 | 0.582 |
| Tribal | Richard Last (ch) | 19 Apr 16 | 2,272,727 | 22 | 500,000 | 2,272,727 | 1.163 |
| Tribal | Roger McDowell | 19 Apr 16 | 2,272,727 | 22 | 500,000 | 2,272,727 | 1.163 |
| Tullett Prebon | John Phizackerley (ceo) | 18 Apr 16 | 132,200 | 342.25 | 452,455 | 174,700 | 0.072 |
| TyraTech | Jim Hills | 14 Apr 16 | 100,000 | 5 | 5,000 | 2,129,957 | 0.974 |
| TyraTech | Jim Hills | 15 Apr 16 | 250,000 | 5 | 12,500 | 2,379,957 | 1.089 |