Ah, Tungsten (TUNG). Is it an undervalued disruptive tech giant in the making, or a doomed, cash-shedding vanity project? The company, which promises to milk a global market for e-invoicing, has suffered a concerted short-selling attack that has sent its shares down a whopping 80 per cent this year.
IC TIP:
Sell
at
63p
Founder Edmund Truell, who will move from chief executive to the newly created role of vice chairman next month, has sunk another £3m into the company following the £734,000 he stumped up in March, raising his stake to 17 per cent. Chief operating officer Lincoln Jopp has also taken advantage of the falls in the share price, as has non-executive director Peter Kiernan. City heavyweights that have previously backed Mr Truell in this venture, with little so far to show for it, include his brother Danny, chief investment officer of the Wellcome Trust.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Alliance Pharma | Nigel Clifford | 16 Jun 15 | 55,696 | 39.5 | 22,000 | 55,696 | 0.021 |
| Alliance Pharma ♥ | Nigel Clifford | 16 Jun 15 | 58,227 | 39.5 | 23,000 | 113,923 | 0.043 |
| Altitude | Martin Varley | 15 Jun 15 | 425,000 | 9.38 | 39,844 | 11,897,559 | 27.728 |
| Cambian | Christopher Brinsmead | 15 Jun 15 | 10,000 | 281.5 | 28,150 | 10,000 | 0.005 |
| Compass | Paul Walsh (ch) | 15 Jun 15 | 5,000 | 1,107 | 55,350 | 21,411 | 0.001 |
| CRH | Nicky Hartery (ch) | 15 Jun 5 | 4,000 | 1,836.24 | 73,450 | 16,478 | 0.002 |
| DDD | Nicholas Brigstocke (ch) | 12 Jun 15 | 1,000,000 | 2.125 | 21,250 | 3,007,045 | 1.810 |
| Development Securities | Richard Upton | 15 Jun 15 | 7,140 | 276.86 | 19,767 | 2,759,806 | 2.209 |
| Flowgroup | Tony Stiff (ce) | 17 Jun 15 | 110,742 | 13.75 | 15,227 | 2,305,170 | 0.726 |
| Flowgroup | Dr Henry Cialone | 17 Jun 15 | 100,000 | 14.2 | 14,200 | 444,692 | 0.140 |
| GETECH ♥ | Peter Stephens | 12 Jun 15 | 25,000 | 53 | 13,250 | 1,038,000 | 3.195 |
| Gusbourne * | Andrew Weeber (ch) | 17 Jun 15 | 777,777 | 50 | 388,889 | 2,722,221 | 11.885 |
| Gusbourne * | Ben Walgate (ce) | 17 Jun 15 | 30,000 | 50 | 15,000 | 90,000 | 0.393 |
| Gusbourne * | Ian Robinson | 17 Jun 15 | 32,577 | 50 | 16,289 | 114,019 | 0.498 |
| Gusbourne * | Paul Bentham | 17 Jun 15 | 244,296 | 50 | 122,148 | 855,036 | 3.733 |
| HSBC † | Kathleen Casey | 12 Jun 15 | 3,500 | 610.40 | 21,364 | 3,500 | 0.000 |
| HSBC † | Phillip Ameen | 16 Jun 15 | 5,000 | 595.90 | 29,795 | 5,000 | 0.000 |
| Oxford BioMedica ♥ | Martin Diggle | 12 Jun 15 | 283,978 | 9.01 | 25,586 | 450,000,000 | 17.519 |
| Oxford BioMedica ♥ | Martin Diggle | 11 Jun 15 | 416,022 | 9 | 37,442 | 449,716,022 | 17.508 |
| Pennon | Sir John Parker | 12 Jun 15 | 10,000 | 834 | 83,400 | 10,000 | 0.002 |
| Petra Diamonds | Anthony Lowrie | 17 Jun 15 | 1,000,000 | 155.053 | 1,550,530 | 1,000,000 | 0.194 |
| Petropavlovsk | Robert Jenkins | 15 Jun 15 | 750,000 | 7.10 | 53,213 | 750,000 | 0.023 |
| Publishing Technology * | AB Moug (cfo) | 15 Jun 15 | 125,000 | 120 | 150,000 | 601,795 | 3.688 |
| Publishing Technology * | MA Rowse | 15 Jun 15 | 166,667 | 120 | 200,000 | 440,277 | 2.698 |
| Publishing Technology * | MC Rose (ch) | 15 Jun 15 | 1,945,000 | 120 | 2,334,000 | 4,453,112 | 27.287 |
| RIT Capital Partners | Mike Wilson | 16 Jun 15 | 10,000 | 1,545 | 154,500 | 20,000 | 0.013 |
| RM2 International SA | Paul Walsh | 15 Jun 15 | 100,000 | 68.5 | 68,500 | 1,739,091 | 0.538 |
| RM2 International SA | Amaury de Seze | 17 Jun 15 | 100,000 | 72.5 | 72,500 | 1,450,000 | 0.449 |
| Share | Richard Tolkien | 17 Jun 15 | 151,515 | 33 | 50,000 | 290,394 | 0.202 |
| Standard Chartered | Andy Halford (fd) | 17 Jun 15 | 58,876 | 1,025 | 603,479 | 92,055 | 0.004 |
| Summit Therapeutics † | Valerie Andrews | 17 Jun 15 | 10,500 | 147.12 | 15,447 | 10,500 | 0.017 |
| Tate & Lyle | Sir Peter Gershon (ch) | 11 Jun 15 | 7,000 | 544 | 38,080 | 123,006 | 0.026 |
| Topps Tiles ♥ | Darren Shapland (ch) | 11 Jun 15 | 80,000 | 139.96 | 111,968 | 80,000 | 0.041 |
| Tungsten Corp * | Nicholas Parker | 16 Jun 15 | 31,250 | 80 | 25,000 | 78,392 | 0.063 |
| Tungsten Corp * | Edmund Truell (ce) | 16 Jun 15 | 3,762,500 | 80 | 3,010,000 | 18,381,084 | 16.937 |
| Tungsten Corp * | Lincoln Jopp | 16 Jun 15 | 25,000 | 80 | 20,000 | 28,212 | 0.026 |
| Tungsten Corp * | Peter Kiernan | 16 Jun 15 | 12,500 | 80 | 10,000 | 185,056 | 0.171 |
| Verona Pharma | Dr. David Ebsworth (ch) | 17 Jun 15 | 250,000 | 4.7 | 11,750 | 3,829,774 | 0.379 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Avesco Ω | Richard Murray (ch) | 11 Jun 15 | 540,000 | 175 | 945,000 | 5,181,211 | 27.159 |
| Babcock International | Kevin Thomas | 15 Jun 15 | 12,000 | 1,115 | 133,800 | 240,425 | 0.048 |
| Babcock International | William Tame | 17 Jun 15 | 100,000 | 1,111.21 | 1,111,210 | 469,518 | 0.093 |
| Bank of Georgia | Irakli Burdiladze | 11 Jun 15 | 3,000 | 1,816 | 54,480 | 54,000 | 0.137 |
| First Derivatives | David Anderson | 11 Jun 15 | 2,500 | 1,455 | 36,375 | 127,500 | 0.549 |
| First Derivatives | Graham Ferguson (cfo) | 12 Jun 15 | 40,000 | 1,500 | 600,000 | 172,647 | 0.743 |
| First Derivatives ♥ | David Anderson | 11 Jun 15 | 2,500 | 1,455 | 36,375 | 125,000 | 0.538 |
| GW Pharmaceuticals † | James Noble | 12 Jun 15 | 20,000 | 636 | 127,200 | 27,500 | 0.011 |
| Lloyds Banking | Juan Colombas | 12 Jun 15 | 2,750,000 | 86.5 | 2,378,750 | 2,250,178 | 0.003 |
| OMG | Catherine Robertson | 15 Jun 15 | 176,000 | 44.5 | 78,320 | 1,286,801 | 1.106 |
| OMG | Nick Bolton (ce) | 15 Jun 15 | 401,916 | 44.5 | 178,853 | 1,172,467 | 1.008 |
| Patisserie | Chris Marsh (fd) | 17 Jun 15 | 51,000 | 312 | 159,120 | 465,052 | 0.465 |
| Patisserie | James Horler | 17 Jun 15 | 147,000 | 312 | 458,640 | 147,116 | 0.147 |
| Patisserie | Luke Johnson (ch) | 17 Jun 15 | 4,046,823 | 312 | 12,626,088 | 38,621,181 | 38.621 |
| Patisserie | Paul May (ce) | 17 Jun 15 | 506,000 | 312 | 1,578,720 | 4,554,000 | 4.554 |
| Powerflute Oyj | Dermot Smurfit | 11 Jun 15 | 92,500 | 67.06 | 62,031 | 1,503,056 | 0.529 |
| Share | Gavin Oldham (ch) | 17 Jun 15 | 9,595,638 | 33 | 3,166,561 | 99,722,178 | 69.419 |
| Share ♥ | Gavin Oldham (ch) | 17 Jun 15 | 818,182 | 33 | 270,000 | 98,903,996 | 68.850 |
| Smurfit Kappa | Gary McGann (ce) | 16 Jun 15 | 65,000 | 2,584.46 | 1,679,899 | 426,810 | 0.182 |
| Town Centre Securities | Dr. Michael Ziff | 15 Jun 15 | 300,000 | 293.27 | 879,810 | 2,871,513 | 5.401 |
| XP Power | Mike Laver | 16 Jun 15 | 4,000 | 1,600 | 64,000 | 119,969 | 0.623 |
| *Placing/tender/open offer ♥Spouse/connected party ΩIsa/Sipp/trust †Depositary receipts ΩPurchased by senior executives of Avesco | |||||||
