Shares in BBA Aviation (BBA) have lost nearly 40 per cent in value since we advised offloading them in July (307p, 23 July 2015). We suspect that contraction has much to do with mounting concern over the group's US business and lack of profit growth evident in its results published in August. Since then, a seemingly unpopular acquisition - which will require a five-for-six rights issue to raise £748m and $1bn in new debt - has driven the shares down further.
IC TIP:
Sell
at
191p
In the wake of this decline, chairman Nigel Rudd, his wife and his vehicle Astara Management have all bought additional stakes in BBA to the tune of nearly £400,000. As a result of the transactions, Mr Rudd now holds a beneficial stake of 203,400 shares - or 0.09 per cent - in BBA.
| Buys | |||||||
|---|---|---|---|---|---|---|---|
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Alternative Liquidity Fund ♥ | Anthony Pickford | 08 Oct 15 | 50,000 | 29 | 14,500 | 50,000 | 0.034 |
| BBA Aviation | Sir Nigel Rudd (ch) | 13 Oct 15 | 73,500 | 192.1 | 141,194 | 77,500 | 0.017 |
| BBA Aviation | Sir Nigel Rudd (ch) | 13 Oct 15 | 55,700 | 192.1 | 107,000 | 203,400 | 0.043 |
| BBA Aviation ♥ | Sir Nigel Rudd (ch) | 13 Oct 15 | 70,200 | 192.1 | 134,854 | 147,700 | 0.032 |
| Capital & Regional | Tony Hales | 14 Oct 15 | 100,000 | 66.7 | 66,700 | 399,999 | 0.057 |
| Centrica | Iain Conn (ce) | 08 Oct 15 | 100,000 | 235.35 | 235,350 | 100,000 | 0.002 |
| Centrica | Steve Pusey | 08 Oct 15 | 20,000 | 235.35 | 47,070 | 20,000 | <0.001 |
| CLS Holdings | Sten Mortstedt (ch) | 08 Oct 15 | 3,103 | 1,800 | 55,854 | 21,359,635 | 50.687 |
| CLS Holdings | Sten Mortstedt (ch) | 09 Oct 15 | 1,325 | 1,800 | 23,850 | 21,360,960 | 50.690 |
| Dalradian Resources Inc * | Jim Rutherford | 08 Oct 15 | 62,500 | 49.036 | 30,647 | 62,500 | 0.029 |
| Dalradian Resources Inc * | Patrick Anderson (ch & ce) | 08 Oct 15 | 125,000 | 49.036 | 61,295 | 3,666,361 | 1.712 |
| Dalradian Resources Inc * | Patrick Downey | 08 Oct 15 | 80,000 | 49.036 | 39,229 | 130,000 | 0.061 |
| Dalradian Resources Inc * | Sean Roosen | 08 Oct 15 | 62,500 | 49.036 | 30,647 | 1,653,083 | 0.772 |
| Dignity | David Blackwood | 14 Oct 15 | 2,189 | 2,226.53 | 48,739 | 2,189 | 0.004 |
| Dunelm | John Browett | 09 Oct 15 | 18,608 | 927 | 172,496 | 20,253 | 0.010 |
| Dunelm | John Browett | 09 Oct 15 | 2,998 | 925 | 27,732 | 23,251 | 0.011 |
| Dunelm | Simon Emeny | 09 Oct 15 | 2,155 | 926 | 19,955 | 28,555 | 0.014 |
| Dunelm | William Reeve | 09 Oct 15 | 2,500 | 944 | 23,600 | 2,500 | 0.001 |
| GameAccount Network | Dermot Smurfit (ce) | 12 Oct 15 | 45,000 | 37 | 16,650 | 7,475,075 | 13.376 |
| GVC Holdings | Richard Cooper (fd) | 13 Oct 15 | 13,333 | 413 | 55,065 | 350,000 | 0.571 |
| hVIVO | Jaime Ellertson (ch) | 09 Oct 15 | 4,616 | 433 | 19,987 | 25,165 | 0.037 |
| John Laing | David Rough | 12 Oct 15 | 20,000 | 192.3 | 38,460 | 30,256 | 0.008 |
| John Laing ♥ | David Rough | 12 Oct 15 | 5,000 | 191.3 | 9,565 | 35,256 | 0.010 |
| Microsaic Systems | Colin Nicholl (ch) | 12 Oct 15 | 50,000 | 27.65 | 13,825 | 3,318,711 | 5.236 |
| Microsaic Systems | Eric Yeatman | 13 Oct 15 | 18,000 | 27.65 | 4,977 | 3,305,723 | 5.215 |
| Miton Worldwide Growth Inv | Hugh Cutsem | 08 Oct 15 | 6,234 | 158.24 | 9,865 | 6,234 | 0.025 |
| Monks Investment Trust (The) | Jeremy Tigue | 13 Oct 15 | 12,519 | 397.4 | 49,751 | 40,731 | 0.019 |
| mporium | Nigel Walder (ch) | 09 Oct 15 | 1,538,460 | 6.5 | 100,000 | 8,088,460 | 1.875 |
| mporium ♥ | Nigel Walder (ch) | 13 Oct 15 | 121,614 | 7.39 | 8,987 | 8,210,074 | 1.904 |
| Nanoco | David Blain (cfo) | 14 Oct 15 | 14,700 | 57.97 | 8,522 | 14,700 | 0.006 |
| Nanoco Ω | Anthony Clinch (ch) | 13 Oct 15 | 37,467 | 57.38 | 21,499 | 95,107 | 0.040 |
| Next Fifteen Communications | Richard Eyre (ch) | 14 Oct 15 | 10,154 | 195 | 19,800 | 177,671 | 0.268 |
| Ovoca Gold | Kirill Golovanov | 12 Oct 15 | 4,600,000 | 5.4 | 248,400 | 16,256,204 | 19.931 |
| Polar Capital Technology Trust | RAS Montagu | 12 Oct 15 | 4,000 | 546.5 | 21,860 | 19,500 | 0.015 |
| Polar Capital Technology Trust | RAS Montagu | 14 Oct 15 | 4,000 | 554 | 22,160 | 23,500 | 0.018 |
| Porta Communications ♥ | Bob Morton (ch) | 12 Oct 15 | 100,000 | 6.1 | 6,100 | 42,686,318 | 15.392 |
| Porta Communications ♥ | Bob Morton (ch) | 12 Oct 15 | 250,000 | 6.25 | 15,625 | 42,936,318 | 15.482 |
| Porta Communications Ω | Eugene Golembiewski (fd) | 12 Oct 15 | 643,000 | 7 | 45,010 | 1,412,230 | 0.509 |
| Porta Communications Ω | David Wright (ce) | 12 Oct 15 | 714,285 | 7 | 50,000 | 4,055,677 | 1.462 |
| PureTech Health | Dame Marjorie Scardino | 08 Oct 15 | 13,100 | 130 | 17,030 | 782,710 | 0.330 |
| PuriCore | Daniel Hegglin | 13 Oct 15 | 500,000 | 18 | 90,000 | 5,909,091 | 11.786 |
| Rightmove | Colin Kemp | 09 Oct 15 | 500 | 3,490 | 17,450 | 2,500 | 0.003 |
| Rolls-Royce Holdings | Irene Dorner | 08 Oct 15 | 5,000 | 740.09 | 37,005 | 5,000 | <0.001 |
| Safestay | Stephen Moss | 12 Oct 15 | 83,333 | 60 | 50,000 | 83,333 | 0.244 |
| Satellite Solutions Worldwide | Michael Tobin (ch) | 13 Oct 15 | 247,000 | 4 | 9,880 | 827,000 | 0.268 |
| Sopheon | Stuart Silcock | 09 Oct 15 | 8,250 | 71.2 | 5,874 | 237,227 | 3.259 |
| Sopheon | Stuart Silcock | 09 Oct 15 | 15,000 | 82 | 12,300 | 252,227 | 3.465 |
| Sopheon | Dr. Bernard Al | 09 Oct 15 | 8,250 | 71.2 | 5,874 | 94,406 | 1.297 |
| Tesco | Alan Stewart (cfo) | 08 Oct 15 | 50,000 | 202.4 | 101,200 | 50,404 | 0.001 |
| Tesco | Dave Lewis (ce) | 08 Oct 15 | 99,950 | 200.1 | 200,000 | 100,413 | 0.001 |
| Tesco | John Allan (ch) | 08 Oct 15 | 50,891 | 196.5 | 100,001 | 81,973 | 0.001 |
| Tesco | Richard Cousins | 08 Oct 15 | 17,357 | 199 | 34,540 | 17,357 | <0.001 |
| Tesco | Mikael Olsson | 08 Oct 15 | 5,000 | 200.1 | 10,005 | 5,000 | <0.001 |
| Tesco † | Deanna Oppenheimer | 08 Oct 15 | 51,000 | 200.94 | 102,480 | 103,500 | 0.001 |
| Tri-Star Resources | Guy Eastaugh (ce) | 08 Oct 15 | 4,308,090 | 0.166 | 7,151 | 12,369,690 | 0.146 |
| Value & Income Trust | Prof John Kay | 13 Oct 15 | 9,004 | 247.67 | 22,300 | 225,218 | 0.494 |
| Witan Investment Trust | RW Boyle | 12 Oct 15 | 1,986 | 762.49 | 15,143 | 52,406 | 0.027 |
| Scotgold Resources * | Nathaniel Le Roux (ch) | 12 Oct 15 | 45,656,433 | 0.62 | 283,377 | 502,220,806 | 40.808 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Arrow Global ♣ | Robert Memmott (cfo) | 13 Oct 15 | 642,340 | 250 | 1,605,850 | 1,585,724 | 0.909 |
| Arrow Global ♣ | Tom Drury (ce) | 13 Oct 15 | 956,430 | 250 | 2,391,075 | 7,818,714 | 4.482 |
| Arrow Global ♥ ♣ | Tom Drury (ce) | 13 Oct 15 | 956,431 | 250 | 2,391,078 | 6,862,283 | 3.934 |
| Arrow Global ♥ ♣ | Robert Memmott (cfo) | 12 Oct 15 | 5,000 | 250 | 12,500 | 2,342,020 | 1.343 |
| Polypipe ♥ | Glen Sabin | 14 Oct 15 | 131,482 | 315.55 | 414,893 | 3,345,555 | 0.301 |
| Source BioScience | Laurence Turnbull (ch) | 12 Oct 15 | 2,000,000 | 17 | 340,000 | 2,750,000 | 0.788 |
*Placing/tender/open offer ♥Spouse/connected party Ω ISA/SIPP/Trust †Depositary receipts ♣Sold pursuant to secondary placing announced on 12 Oct | |||||||
