Join our community of smart investors

Private equity offloads Al Noor

Two Al Noor non-executive directors are cashing in thanks to their association with one of Al Noor's original backers
April 23, 2015

There might be a reason for Al Noor's (ANH) share price falling from nearly 1,100p to 890p in the past month. Ithmar Capital - through its special purpose vehicle Astro II - has sold its remaining 20 per cent stake in the UAE-based hospital operator to the tune of £216m. The founder of the group, Kassem Alom, said the sale would improve Al Noor's liquidity and allow new investors to buy into the stock.

IC TIP: Hold at 890p

Astro II was one of the group's founding shareholders when it joined the London market in 2013. It's not its first sale, either; last September it offloaded a 7.3 per cent stake in Al Noor in a deal expected to net close to £87.5m. Al Noor non-executive directors Faisal Belhoul and Khaldoun Haj Hasan are also co-founders of Ithmar Capital. The former serves as managing partner and the latter as executive director.

Buys
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Amerisur Resources Giles Clarke (ch)10 Apr 15198,45125.1849,97016,755,2271.577
Amerisur Resources George Woodcock10 Apr 15145,0002536,2501,500,0000.141
Amerisur Resources George Woodcock10 Apr 1579,0002418,9601,355,0000.128
Arian Silver CorpJames Williams (ce)13 Apr 1520,00030.656,129500,0001.475
BATM Advanced Communications Dr. Zvi Marom (ce)15 Apr 15250,00012.531,25094,144,50023.352
Carr's♥ John Worby14 Apr 1525,000155.738,92525,0000.028
Charles Taylor*David Watson9 Apr 154,2851556,64214,2850.022
Charles Taylor*Edward Creasy9 Apr 151,8391552,8506,1300.009
Charles Taylor*Mark Keogh9 Apr 1510,00015515,50010,0000.015
Charles Taylor*Rupert Robson (ch)9 Apr 158,78215513,61278,2190.119
Charles Taylor *Damian Ely9 Apr 1524,61815538,15882,0640.125
Charles Taylor *Barnabas Hurst-Bannister9 Apr 158,15015512,6338,1500.012
Charles Taylor *David Marock (ce)9 Apr 15158,034155244,953620,3620.943
Concurrent Technologies David Evans-Hughes9 Apr 158,755453,940948,2061.306
Dunedin Enterprise Investment Trust Duncan Budge (ch)9 Apr 1520,000340.9868,19635,9000.172
Ferrexpo Bert Nacken14 Apr 1520,00067.713,54020,0000.003
Frontier IP*  David Cairns13 Apr 1595,2382120,000840,2383.159
Frontier IP*  Andrew Richmond (ch)13 Apr 15100,0002121,0001,000,0003.759
Frontier IP*  Mike Bourne13 Apr 1595,2382120,000270,2381.016
Frontier IP*  Neil Crabb (ce)13 Apr 15119,0482125,0002,834,16810.654
Henderson Global Trust Dr. Lance Moir15 Apr 151,800414.967,46912,8830.034
Hutchison China Meditech Simon To (ch)15 Apr 1528,0001,585443,800180,0000.339
Hutchison China Meditech Simon To (ch)10 Apr 1525,0001,421.50355,375152,0000.286
KBC Advanced Technologies♥Oliver Scott10 Apr 1565,00097.2763,22510,552,55012.869
Lowland Investment CoΩKarl Sternberg10 Apr 156001,328.267,9705,0600.019
Majestic Wine Ian Harding10 Apr 153,000299.658,9908,0000.011
Majestic Wine Phil Wrigley (ch)14 Apr 1510,000356.535,65010,0000.014
Michelmersh Brick Frank Hanna9 Apr 1521,9856814,9501,250,0001.546
Petro Matad Ridvan Karpuz10 Apr 1570,0006.24,340690,7880.247
PureCircle P E Selway-Swift (ch)10 Apr 153,000489.5114,685210,8000.124
PureCircle William Mitchell10 Apr 153,00050015,000939,5400.553
PureCircle William Mitchell10 Apr 153,00050015,000942,5400.555
Rotala Simon Dunn (ce)15 Apr 1517,7216210,9871,382,3553.602
Scottish American Investment Co (The) Lord Kerr of Kinlochard GCMG10 Apr 156,036251.2515,165131,6070.099
Severfield Alun Griffiths14 Apr 1520,00065.9113,18220,0000.007
Standard Life Elizabeth Noel Harwerth9 Apr 151,8934728,93510,0740.001
SVG Capital David Robins10 Apr 153,000514.9915,4507,0000.004
Synety  Allan Ward10 Apr 1528,07589.0525,001234,8701.936
Synety* Paul Williams9 Apr 1522,2009019,98074,0570.610
Synety* Paul Williams9 Apr 1510,000909,00074,0570.610
Synety* Dr George Oehm9 Apr 1515,0009013,50015,0000.124
Synety* Mark Seemann (ce)9 Apr 1540,3009036,270916,3777.554
Synety* Simon Cleaver (ch)9 Apr 1556,8129051,131374,0663.084
VinaLand Charles Isaac10 Apr 15400,00051.9207,600624,0000.144
VinaLand Michel Casselman (ch)13 Apr 15350,00052182,0001,270,5000.294
Sells
CompanyDirectorDateNo of sharesPrice (p)Value (£)Holding (shares)Holding (%)
Al Noor Hospitals♥†Khaldoun Haj Hasan14 Apr 1523,373,242924.04215,977,49800.000
CVS  Simon Innes (ce)9 Apr 15300,0005551,665,000246,4750.416
Gemfields Devidas Shetty15 Apr 15100,00059.7559,75000.000
Howden Joinery  Mark Robson (cfo)13 Apr 15137,453465.1639,2942,329,0350.357
Howden Joinery♥ Mark Robson (cfo)13 Apr 15482,434462.82,232,7051,846,6010.283
Maintel Dale Todd (fd)15 Apr 1510,00064064,00037,3970.347
Michelmersh BrickFrank Hanna10 Apr 15183,40067.7124,1621,066,6001.313
Michelmersh Brick♥Frank Hanna10 Apr 1516,60067.711,2381,050,0001.293
Nichols Peter Nichols (ch)13 Apr 1530,0001,190357,0002,030,0005.491

*Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust †Stake of private equity firm Ithmar Capital