3i (III) has a knack for spotting worthy private equity investment opportunities at the moment. The investment manager gained a gross return on these investments of more than £1bn last year, representing a 32 per cent return on the opening portfolio at the start of the year. As a result, the group plans to reward shareholders with a more generous dividend policy. Chief executive Simon Borrows evidently wants a piece of the income on offer, buying £2.5m* in shares in the investment group.
IC TIP:
Hold
at
550p
Minimum annual dividend payouts will be increased to 16p from 8.1p from the financial year ending 31 March 2017. Shareholders will also receive an additional final dividend each year, taking into account cash realisations, the investment pipeline and the balance sheet. In addition, the final dividend will only be paid out provided gross debt is less than £1bn and gearing less than 20 per cent.
*3 June 2016: The original version of this article reported that Mr Borrows had bought £2m in shares. This has been updated.
| Buys | |||||||
|---|---|---|---|---|---|---|---|
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 3i | Caroline J Banszky | 19 May 16 | 3,000 | 500 | 15,000 | 9,000 | 0.001 |
| 3i | Simon Borrows (ceo) | 19 May 16 | 500,000 | 500 | 2,500,000 | 10,640,192 | 1.094 |
| Aviva♥ | Mark Wilson (ceo) | 20 May 16 | 7,500 | 436 | 32,700 | 458,370 | 0.011 |
| BBA Aviation♥ | Nigel Rudd (ch) | 23 May 16 | 4,710 | 201.4188 | 9,487 | 230,760 | 0.022 |
| BBA Aviation | Nigel Rudd (ch) | 23 May 16 | 5,140 | 201.4188 | 10,353 | 226,590 | 0.022 |
| Close Brothers | Preben Prebensen (ceo) | 20 May 16 | 23,357 | 1279.6784 | 298,894 | 740,921 | 0.494 |
| Conviviality | Ian Jones | 20 May 16 | 7,317 | 205 | 15,000 | 17,317 | 0.010 |
| Conviviality* | Andrew Humphreys (cfo) | 20 May 16 | 7,317 | 205 | 15,000 | 29,983 | 0.018 |
| Conviviality* | Martin Newman | 20 May 16 | 9,756 | 205 | 20,000 | 28,689 | 0.017 |
| Conviviality* | David Adams (ch) | 20 May 16 | 15,000 | 205 | 30,750 | 48,163 | 0.028 |
| Conviviality* | Stephen Wilson | 20 May 16 | 25,000 | 205 | 51,250 | 125,000 | 0.073 |
| Devro | Peter Page (ceo) | 23 May 16 | 10,000 | 251.75 | 25,175 | 682,440 | 0.409 |
| Devro | Rutger Helbing (fd) | 23 May 16 | 10,000 | 252.74 | 25,274 | 10,000 | 0.006 |
| Ergomed* | Peter George | 24 May 16 | 100,000 | 140 | 140,000 | 131,250 | 0.330 |
| Ergomed* | Stephen Stamp (cfo) | 24 May 16 | 200,000 | 140 | 280,000 | 200,000 | 0.503 |
| Ergomed* | Miroslav Reljanovic (ceo) | 24 May 16 | 400,000 | 140 | 560,000 | 17,632,237 | 44.385 |
| Grainger | Robert Wilkinson | 23 May 16 | 10,000 | 240 | 24,000 | 10,000 | 0.002 |
| Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 23 May 16 | 1,162,270 | 0.8 | 9,298 | 327,764,123 | 80.016 |
| Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 20 May 16 | 14,476,247 | 0.8 | 115,810 | 326,601,853 | 79.732 |
| Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 25 May 16 | 28,806,438 | 0.8 | 230,452 | 356,570,561 | 87.049 |
| Helical Bar♥ | Richard Cotton | 25 May 16 | 10,000 | 399.5 | 39,950 | 10,000 | 0.008 |
| Homeserve | Mark Morris | 25 May 16 | 3,763 | 475.5 | 17,893 | 34,231 | 0.011 |
| Homeserve | Richard Harpin (ceo) | 25 May 16 | 8,550 | 465 | 39,758 | 38,528,209 | 12.513 |
| Homeserve | Ben Mingay | 25 May 16 | 10,000 | 461 | 46,100 | 47,143 | 0.015 |
| Homeserve♥ | Ben Mingay | 25 May 16 | 10,000 | 461 | 46,100 | 57,142 | 0.019 |
| Homeserve♥ | Richard Harpin (ceo) | 25 May 16 | 10,568 | 465 | 49,141 | 38,528,773 | 12.513 |
| Homeserve | Chris Havemann | 25 May 16 | 11,822 | 465 | 54,972 | 11,822 | 0.004 |
| Homeserve | J M Barry Gibson (ch) | 25 May 16 | 24,000 | 460 | 110,400 | 150,070 | 0.049 |
| Homeserve | Stella David | 25 May 16 | 42,817 | 467.1 | 199,998 | 68,945 | 0.022 |
| ICAP | Stuart Bridges (fd) | 20 May 16 | 25,000 | 427.7 | 106,925 | 50,000 | 0.008 |
| Informa♥ | Stephen Davidson | 20 May 16 | 2,680 | 663.6669 | 17,786 | 2,680 | 0.000 |
| Inspirit Energy*♥ | John Gunn (ch & ceo) | 20 May 16 | 10,000,000 | 0.5 | 50,000 | 370,029,580 | 39.499 |
| Keller | Peter Hill | 25 May 16 | 10,000 | 934.04 | 93,404 | 10,000 | 0.014 |
| Meggitt♥ | Nigel Rudd (ch) | 23 May 16 | 5,100 | 382.9 | 19,528 | 119,500 | 0.015 |
| Meggitt | Nigel Rudd (ch) | 23 May 16 | 17,400 | 382.9 | 66,625 | 114,400 | 0.015 |
| Minds + Machines | Guy Elliott (ch) | 25 May 16 | 300,000 | 10 | 30,000 | 23,000,000 | 3.041 |
| Molins | Phil Moorhouse (ch) | 25 May 16 | 20,000 | 59.5 | 11,900 | 20,000 | 0.099 |
| Mothercare | Richard Rivers | 20 May 16 | 8,600 | 123 | 10,578 | 78,869 | 0.046 |
| Mothercare | Richard Smothers (cfo) | 20 May 16 | 20,000 | 123 | 24,600 | 96,524 | 0.056 |
| Mothercare | Mark Newton-Jones (ceo) | 20 May 16 | 20,143 | 123 | 24,776 | 268,972 | 0.157 |
| Mothercare | Alan Parker (ch) | 20 May 16 | 20,576 | 121.5 | 25,000 | 462,428 | 0.271 |
| Real Estate Investors | Marcus Daly (fd) | 24 May 16 | 20,000 | 60.5 | 12,100 | 1,520,000 | 0.815 |
| Reckitt Benckiser | Mary Harris | 23 May 16 | 1,457 | 6812 | 99,251 | 1,729 | 0.000 |
| Regus | François Pauly | 19 May 16 | 12,282 | 295.9 | 36,342 | 50,000 | 0.005 |
| Securities Trust of Scotland | Angus Lennox | 20 May 16 | 80,000 | 132.25 | 105,800 | 100,000 | 0.089 |
| Sirius Real Estate | Andrew Coombs (ceo) | 24 May 16 | 53,000 | 51 | 27,030 | 4,292,879 | 0.571 |
| Sirius Real Estate | Alistair Marks (cfo) | 25 May 16 | 56,053 | 51 | 28,587 | 2,280,125 | 0.303 |
| Sinclair Pharma | Christophe Foucher | 20 May 16 | 31,500 | 35.5 | 11,183 | 222,700 | 0.045 |
| Sinclair Pharma♥ | Chris Spooner (ceo) | 20 May 16 | 150,000 | 35.4 | 53,100 | 9,139,164 | 1.837 |
| Sinclair Pharma | Jean-Charles Tschudin | 20 May 16 | 250,000 | 35 | 87,500 | 3,250,117 | 0.653 |
| Thomas Cook | Michael Healy (cfo) | 19 May 16 | 28,258 | 81.7 | 23,087 | 1,212,890 | 0.079 |
| Treatt♥ | Tim Jones (ch) | 19 May 16 | 5,176 | 178 | 9,213 | 117,403 | 0.223 |
| Sells | |||||||
|---|---|---|---|---|---|---|---|
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Amati VCT | Peter Lawrence (ch) | 23 May 16 | 22,298 | 67 | 14,940 | 166,926 | 0.293 |
| Amiad Water Systems | Simon Olswang | 24 May 16 | 16,500 | 174 | 28,710 | 0 | 0.000 |
| Assura | Simon Laffin (ch) | 23 May 16 | 114,942 | 57.23 | 65,781 | 3,257,439 | 0.199 |
| Gamma Communications | Andrew Stone | 20 May 16 | 300,000 | 448 | 1,344,000 | 2,200,000 | 2.408 |
| Hill & Smith | Mark Pegler (fd) | 20 May 16 | 48,000 | 981 | 470,880 | 60,407 | 0.077 |
| Howden Joinery | Matthew Ingle (ceo) | 19 May 16 | 1,400,000 | 486.62 | 6,812,680 | 3,021,216 | 0.476 |
| Town Centre Securities | Michael Ziff | 20 May 16 | 250,000 | 302.4 | 756,000 | 2,636,513 | 4.959 |
| Witan Investment Trust♥ | Catherine Claydon | 20 May 16 | 5,893 | 725.25 | 42,739 | 49,037 | 0.026 |
| *Placing/tender/open offer ♥Spouse/connected party | |||||||
