Midway through June, a handful of Volex (VLX) board members, including new principals Karen Slatford and Christoph Eisenhardt, picked up just over £200,000 worth of shares at an average price of just over 80p apiece. That's a sobering price for anyone who participated in December’s secondary share sale and placing at 116p.
IC TIP:
Buy
at
83p
The transactions took place just days after the cabling solutions provider announced it was raising another £18m in a bid to tackle the existing level of bank debt, which has hindered the group’s attempts to implement the "Volex Transformation Plan".
Mr Eisenhardt has been in the driving seat as chief executive since last July. Besides the need to shore-up the balance sheet, he has faced a fall-away in infrastructure remits as the roll-out of 4G data projects in the US and Japan have ground to a halt. With its immediate debt issues resolved, management should now be able to focus more closely on the requirements of its customers.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 21st Century Technology | Glenn Robinson (fd) | 13 Jun 14 | 400,000 | 5.75 | 23,000 | 1,394,817 | 1.496 |
| 21st Century Technology | Russ Singleton (ce) | 13 Jun 14 | 600,000 | 5.75 | 34,500 | 2,100,000 | 2.252 |
| Belvoir Lettings | Andrew Borkowski | 13 Jun 14 | 15,615 | 127.75 | 19,948 | 15,615 | 0.065 |
| Big Yellow | Richard Cotton | 18 Jun 14 | 5,000 | 461.40 | 23,070 | 63,919 | 0.045 |
| boohoo.com | Peter Williams (ch) | 16 Jun 14 | 100,000 | 50.68 | 50,680 | 300,000 | 0.027 |
| Carclo | Christopher Malley (ce) | 17 Jun 14 | 23,773 | 114.29 | 27,170 | 43,385 | 0.066 |
| Carclo ♥ | Robert Brooksbank (fd) | 17 Jun 14 | 40,500 | 111.35 | 45,097 | 236,555 | 0.358 |
| Cineworld ♥ | Israel Greidinger (coo) | 13 Jun 14 | 625,000 | 341.55 | 2,134,688 | 69,354,694 | 26.294 |
| Cineworld ♥ | Moshe Greidinger (ce) | 13 Jun 14 | 625,000 | 341.55 | 2,134,688 | 69,354,694 | 26.294 |
| Countrywide | David Watson (ch) | 13 Jun 14 | 3,630 | 547.71 | 19,882 | 12,505 | 0.006 |
| Ecofin Water & Power Opportunities | MAB Negre | 12 Jun 14 | 750,000 | 160.5 | 1,203,750 | 750,000 | 0.357 |
| Enteq Upstream | Martin Perry (ce) | 13 Jun 14 | 200,000 | 37 | 74,000 | 908,802 | 1.542 |
| Faroe Petroleum * | Dr Jonathan Cooper (cfo) | 18 Jun 14 | 23,686 | 120 | 28,423 | 33,644 | 0.013 |
| Faroe Petroleum * | Graham Stewart (ce) | 18 Jun 14 | 50,022 | 120 | 60,026 | 363,287 | 0.136 |
| Faroe Petroleum * | Helge Hammer (coo) | 18 Jun 14 | 30,604 | 120 | 36,725 | 245,027 | 0.092 |
| Fusionex International | Alan Lim Wai Loong | 12 Jun 14 | 4,500 | 398 | 17,910 | 24,500 | 0.057 |
| Gresham Computing ♥ | M Royde | 13 Jun 14 | 49,000 | 130.43 | 63,910 | 5,626,354 | 8.898 |
| Independent Resources * | GG Nash (ch) | 18 Jun 14 | 6,666,667 | 3 | 200,000 | 13,393,205 | 12.738 |
| Johnston Press * | Ashley Highfield (ce) | 13 Jun 14 | 6,626,080 | 3 | 198,782 | 7,642,350 | 0.144 |
| Johnston Press * | Camilla Rhodes | 13 Jun 14 | 511,178 | 3 | 15,335 | 981,588 | 0.019 |
| Johnston Press * | Ian Russell (ch) | 13 Jun 14 | 7,835,401 | 3 | 235,062 | 11,996,441 | 0.227 |
| Johnston Press * | Kjell Aamot | 13 Jun 14 | 2,114,008 | 3 | 63,420 | 2,781,296 | 0.053 |
| Johnston Press * | Mark Pain | 13 Jun 14 | 803,473 | 3 | 24,104 | 1,498,791 | 0.028 |
| Johnston Press * | Ralph Marshall | 13 Jun 14 | 1,052,668 | 3 | 31,580 | 1,790,735 | 0.034 |
| Johnston Press * | Stephen van Rooyen | 13 Jun 14 | 307,444 | 3 | 9,223 | 354,598 | 0.007 |
| Metal Tiger * ♥ | Cameron Parry (ce) | 17 Jun 14 | 27,000,000 | 0.5 | 135,000 | 27,000,000 | 16.177 |
| Oxford BioMedica * | Dr Paul Blake | 17 Jun 14 | 1,250,000 | 2 | 25,000 | 1,783,097 | 0.071 |
| Oxford BioMedica * | Martin Diggle | 17 Jun 14 | 132,250,000 | 2 | 2,645,000 | 533,250,100 | 21.376 |
| Oxford BioMedica * | Tim Watts (cfo & cs) | 17 Jun 14 | 1,625,000 | 2 | 32,500 | 5,307,829 | 0.213 |
| Record | David Morrison | 18 Jun 14 | 40,000 | 34.6 | 13,850 | 40,000 | 0.018 |
| Rio Tinto | Ann Godbehere | 16 Jun 14 | 3,350 | 3,051 | 102,209 | 6,331 | <0.001 |
| RM2 International SA | Jan Dekker | 18 Jun 14 | 100,000 | 52 | 52,000 | 2,400,000 | 0.751 |
| Rotork ♥ | M J Lamb | 13 Jun 14 | 2,000 | 2,638 | 52,760 | 2,000 | 0.002 |
| Sirius Real Estate | James Peggie | 16 Jun 14 | 50,000 | 34.8 | 17,375 | 602,678 | 0.118 |
| Symphony International Holdings | Anil Thadani | 17 Jun 14 | 200,000 | 70 | 140,000 | 54,966,950 | 10.499 |
| Symphony International Holdings | Anil Thadani | 18 Jun 14 | 200,000 | 70 | 140,000 | 55,416,950 | 10.585 |
| Symphony International Holdings | Anil Thadani | 17 Jun 14 | 250,000 | 70 | 175,000 | 55,216,950 | 10.546 |
| Symphony International Holdings | Sunil Chandiramani | 17 Jun 14 | 150,000 | 70 | 105,000 | 14,823,744 | 2.831 |
| Symphony International Holdings | Sunil Chandiramani | 18 Jun 14 | 150,000 | 70 | 105,000 | 14,973,744 | 2.860 |
| Telit Communications | Oozi Cats (ce) | 13 Jun 14 | 100,000 | 208 | 208,000 | 22,300,357 | 19.681 |
| Volex | Christoph Eisenhardt (ce) | 13 Jun 14 | 63,274 | 79.02 | 49,999 | 88,274 | 0.133 |
| Volex | Daren Morris | 16 Jun 14 | 50,000 | 80.6 | 40,300 | 80,000 | 0.121 |
| Volex | Geraint Anderson | 19 Jun 14 | 30,000 | 80.92 | 24,276 | 24,276 | 0.040 |
| Volex | John Allkins | 17 Jun 14 | 87,500 | 80.05 | 70,044 | 87,500 | 0.132 |
| Volex | Karen Slatford (ch) | 19 Jun 14 | 25,000 | 80.96 | 20,240 | 55,000 | 0.080 |
| Wolseley | Alan Murray | 17 Jun 14 | 2,500 | 3,214 | 80,350 | 2,500 | <0.001 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Bloomsbury Publishing | Nigel Newton (ce) | 12 Jun 14 | 227,600 | 166.57 | 379,113 | 1,147,263 | 1.530 |
| CareTech Holdings ♥ | Stewart Wallace | 12 Jun 14 | 300,000 | 260.2 | 780,600 | 506,124 | 0.973 |
| Good Energy ♥ | Garry Peagam | 13 Jun 14 | 10,000 | 230 | 23,000 | 70,000 | 0.477 |
| Investec | Glynn Burger (fd) | 17 Jun 14 | 110,000 | 537 | 591,199 | 627,076 | 0.103 |
| Sanderson † | Christopher Winn (ch) | 13 Jun 14 | 300,000 | 66 | 198,000 | 12,465,000 | 23.986 |
| * placing/tender/open offer ♥ spouse/connected party † exercised 2.02m options at 50-54p on same day | |||||||
