The directors of polymers manufacturer Zotefoams (ZTF) have backed their expansion plans by acquiring 55,736 of the 3.98m shares placed by the company at an issue price of 220p per share.
IC TIP:
Hold
at
250p
The company, which sells foam products used in packaging, car wing mirrors and aeroplanes, expanded its share capital by just under 10 per cent by placing shares with institutional investors, raising gross proceeds of about £8.8m. These funds will go towards a $22m (£13.4m) investment in the company's US foam production facility, with the rest of the money coming from debt, operational cash flows and government incentives.
At present, only the final stage of Zotefoams production process takes place in Walton, Kentucky, meaning that US sales are satisfied in part by the group’s UK manufacturing facilities in Croydon. By upgrading the capabilities of the Walton site, which is expected to take two years, Zotefoams should be able to produce most products sold into the US locally, lowering operating costs and further boosting its presence across the Atlantic.
Broker Investec expects extra revenues from the investment to arrive in the 2016 financial year, with EPS jumping 18 per cent to 17.0p in 2017. Meanwhile, the placing will dilute next year's EPS, which is now forecast to be 11.5p.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Aberdeen Asian Income Fund | C Clarke | 11-Sep-14 | 49,250 | 213.00 | 104,903 | 60,000 | 0.03 |
| Aberforth Smaller Companies Trust | Ms. Paula Hay-Plumb | 16-Sep-14 | 300 | 1020.00 | 3,060 | 800 | 0.00 |
| Anglo Pacific Group | Mr. M Potter (cio) | 11-Sep-14 | 18,719 | 162.00 | 30,325 | 100,000 | 0.09 |
| Armadale Capital | J L G Lewis | 12-Sep-14 | 10,000,000 | 0.09 | 8,770 | 93,000,000 | 2.54 |
| Ashmore Group | C Outhwaite | 12-Sep-14 | 6,000 | 327.28 | 19,637 | 46,000 | 0.01 |
| AVEVA Group | P S Aiken (ch) | 16-Sep-14 | 600 | 1540.00 | 9,240 | 1,537 | 0.00 |
| AVEVA Group | Jennifer Allerton | 16-Sep-14 | 1,000 | 1541.00 | 15,410 | 3,000 | 0.00 |
| AVEVA Group | Mr. J Brooks | 16-Sep-14 | 1,500 | 1544.00 | 23,160 | 1,500 | 0.00 |
| Bankers Petroleum | Mr. D French (p & ceo) | 11-Sep-14 | 28,500 | 354.28 | 100,971 | 168,719 | 0.06 |
| Cape | M J Speakman (cfo) | 17-Sep-14 | 8,708 | 287.07 | 24,998 | 44,060 | 0.04 |
| Cape♥ | J M Oatley (ceo) | 17-Sep-14 | 7,000 | 286.28 | 20,040 | 62,000 | 0.05 |
| Carr's Milling Industries | N Austin (fd) | 11-Sep-14 | 1,000 | 1630.00 | 16,300 | 2,000 | 0.02 |
| Charlemagne Capital | M Baer (ch) | 17-Sep-14 | 300,000 | 14.38 | 43,125 | 800,000 | 0.28 |
| Charlemagne Capital | Jayne A Sutcliffe (ce) | 17-Sep-14 | 200,000 | 14.50 | 29,000 | 31,708,519 | 10.96 |
| Compass Group | Ms. Carol Arrowsmith | 11-Sep-14 | 4,035 | 985.99 | 39,785 | 4,035 | 0.00 |
| Corac Group | P Cartmell (ceo) | 15-Sep-14 | 158,800 | 6.25 | 9,925 | 1,896,720 | 0.45 |
| Corac Group | Mr. R W King (ch) | 15-Sep-14 | 165,000 | 6.20 | 10,230 | 605,476 | 0.14 |
| Enteq Upstream | D M Steel (fd & cs) | 12-Sep-14 | 20,000 | 32.70 | 6,540 | 68,581 | 0.12 |
| Enteq Upstream | M Perry (ceo) | 12-Sep-14 | 50,000 | 32.70 | 16,350 | 958,802 | 1.63 |
| Eurasia Mining | D Suschov | 11-Sep-14 | 18,750,000 | 0.48 | 90,000 | 253,250,000 | 24.42 |
| Gable Holdings | M B V Hirschfield (gfd) | 11-Sep-14 | 13,150 | 75.25 | 9,895 | 368,150 | 0.27 |
| Gable Holdings | J Pilgrim | 12-Sep-14 | 30,000 | 74.00 | 22,200 | 30,000 | 0.02 |
| Gable Holdings | W Dewsall (ce) | 11-Sep-14 | 100,000 | 75.50 | 75,500 | 24,639,467 | 18.21 |
| Grainger♥ | M Greenwood (fd) | 17-Sep-14 | 10,121 | 194.03 | 19,638 | 274,335 | 0.07 |
| Henderson EuroTrust | D J Marsh CBE | 11-Sep-14 | 4,073 | 803.66 | 32,733 | 4,073 | 0.02 |
| Hogg Robinson Group | D J C Radcliffe (gce) | 12-Sep-14 | 25,000 | 50.75 | 12,688 | 2,453,062 | 0.76 |
| Hydrogen Group♥ | T Smeaton (ceo) | 16-Sep-14 | 35,000 | 88.00 | 30,800 | 2,863,677 | 12.01 |
| IFG Group | J Cotter (gfd) | 12-Sep-14 | 50,000 | 164.00 | 82,000 | 50,000 | 0.05 |
| IFG Group | Mr. P McNamara (gceo) | 12-Sep-14 | 100,000 | 164.00 | 164,000 | 100,000 | 0.10 |
| Immedia Group | G Howard-Spink (ch) | 17-Sep-14 | 34,200 | 14.39 | 4,921 | 447,280 | 3.07 |
| International Personal Finance | Edyta Kurek | 15-Sep-14 | 2,092 | 510.50 | 10,680 | 3,879 | 0.00 |
| Intu Properties♥ | R M Gordon | 16-Sep-14 | 5,000 | 334.00 | 16,700 | 6,999,818 | 0.53 |
| John Laing Infrastructure Fund♥ | P J Lester CBE (ch) | 12-Sep-14 | 19,379 | 116.00 | 22,480 | 139,379 | 0.02 |
| Kalibrate Technologies | N Davis | 16-Sep-14 | 25,000 | 122.10 | 30,525 | 25,000 | 0.08 |
| Lombard Risk Management | Mr. N J Gurney (cfo) | 15-Sep-14 | 110,000 | 13.50 | 14,850 | 110,000 | 0.04 |
| Low & Bonar | M C Flower (ch) | 12-Sep-14 | 75,000 | 65.50 | 49,125 | 556,912 | 0.17 |
| Low & Bonar | Mr. B Simpson (gceo) | 12-Sep-14 | 75,000 | 65.50 | 49,125 | 75,000 | 0.02 |
| McBride | C D Bull (ceo) | 15-Sep-14 | 20,000 | 89.00 | 17,800 | 360,000 | 0.20 |
| Nature Group | Mr. J F Vesseur | 15-Sep-14 | 20,000 | 21.65 | 4,330 | 20,000 | 0.03 |
| NetPlay TV | A Kumar (gfd &cs) | 12-Sep-14 | 83,333 | 11.00 | 9,167 | 310,400 | 0.10 |
| Paragon Entertainment | M C Pyrah | 15-Sep-14 | 991,038 | 2.60 | 25,767 | 22,214,594 | 11.84 |
| Petrofac | T P Weller (cfo) | 16-Sep-14 | 20,000 | 1,033.03 | 206,606 | 77,068 | 0.02 |
| Pets at Home Group | Mr. P Moody | 11-Sep-14 | 27,470 | 179.25 | 49,240 | 27,470 | 0.01 |
| ProPhotonix | T P Losik (ceo) | 16-Sep-14 | 47,200 | 2.88 | 1,358 | 197,200 | 0.24 |
| Sefton Resources* | Dr. K A Morris | 17-Sep-14 | 10,883,840 | 0.17 | 18,503 | 19,549,671 | 2.15 |
| Sefton Resources* | M R Smith | 17-Sep-14 | 10,883,840 | 0.17 | 18,503 | 23,317,895 | 2.56 |
| Sefton Resources* | T G Milne | 17-Sep-14 | 10,883,840 | 0.17 | 18,503 | 20,960,581 | 2.30 |
| SpaceandPeople | G Dunlay (cfo & cs) | 11-Sep-14 | 10,000 | 46.00 | 4,600 | 10,000 | 0.05 |
| SpaceandPeople | G Watt | 11-Sep-14 | 25,000 | 47.00 | 11,750 | 25,000 | 0.13 |
| SQS Software Quality Systems♥ | Mr. D W Bellin (ch) | 17-Sep-14 | 2,800 | 570.00 | 15,960 | 2,800 | 0.01 |
| SQS Software Quality Systems♥ | Mr. D W Bellin (ch) | 17-Sep-14 | 2,800 | 570.00 | 15,960 | 5,600 | 0.02 |
| Volex | D Morris | 12-Sep-14 | 30,000 | 88.40 | 26,520 | 120,909 | 0.13 |
| Zotefoams* | R J Clowes | 17-Sep-14 | 4,000 | 220.00 | 8,800 | 44,000 | 0.10 |
| Zotefoams* | N G Howard (ch) | 17-Sep-14 | 6,300 | 220.00 | 13,860 | 69,300 | 0.16 |
| Zotefoams* | Ms. Marie-Louise Clayton | 17-Sep-14 | 11,800 | 220.00 | 25,960 | 29,800 | 0.07 |
| Zotefoams* | D B Stirling (md) | 17-Sep-14 | 15,000 | 220.00 | 33,000 | 335,233 | 0.77 |
| Zotefoams* | C G Hurst (fd) | 17-Sep-14 | 18,636 | 220.00 | 40,999 | 292,558 | 0.67 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Al Noor Hospitals Group♥ | F b J Alfalasi/Mr. K H Hasan | 11-Sep-14 | 8,516,612 | 1030.00 | 87,721,104 | 23,373,242 | 20.00 |
| Bank of Georgia Holdings | M Gomarteli | 11-Sep-14 | 13,549 | 2,372.00 | 321,382 | 30,851 | 0.09 |
| Carpetright | Rt Hon Lord Harris (ch) | 12-Sep-14 | 500,000 | 430.00 | 2,150,000 | 9,762,837 | 14.40 |
| Carpetright♥ | Rt Hon Lord Harris (ch) | 12-Sep-14 | 2,600,000 | 430.00 | 11,180,000 | 7,162,837 | 10.57 |
| First Quantum Minerals | M R Rowley | 16-Sep-14 | 24,370 | 1409.78 | 343,563 | 20,005 | 0.00 |
| Optimal Payments | K Butcher (cfo) | 12-Sep-14 | 64,000 | 525.10 | 336,064 | 80,624 | 0.05 |
| Park Group♥ | P R Johnson (ch) | 17-Sep-14 | 5,000,000 | 52.00 | 2,600,000 | 45,546,066 | 23.36 |
| Quintain Estates & Development | N J Kempner | 11-Sep-14 | 100,000 | 86.00 | 86,000 | 2,667,738 | 0.51 |
| Quintain Estates & Development | N J Kempner | 12-Sep-14 | 1,650,000 | 85.32 | 1,407,780 | 1,017,738 | 0.19 |
| Seeing Machines Ltd | M G Roberts | 15-Sep-14 | 8,500,000 | 6.22 | 528,700 | 4,995,376 | 0.61 |
| Versarien* | Mr. W Battrick (cto) | 16-Sep-14 | 375,000 | 29.50 | 110,625 | 7,625,000 | 7.23 |
| Versarien* | N G Ricketts (ceo) | 16-Sep-14 | 750,000 | 29.50 | 221,250 | 15,250,000 | 14.47 |
| * placing/tender/open offer ♥ spouse/connected party | |||||||
