Last month veterinary pharmaceuticals specialist Dechra (DPH) completed its proposed acquisition of Putney Inc, a US company that develops low-cost pet medication. Despite the fact that this acquisition is expected to more the double the size of Dechra's US business, investors haven't been terribly enthusiastic and the share price has experienced an uncharacteristic fall in recent months.
One investor not to be deterred was non-executive director Tony Rice* who, at the start of June, spent roughly £228,000 on 20,000 shares in the company, giving him a 0.02 per cent holding. While non-executive directors are required to acquire and retain a stake in Dechra by the third anniversary of their appointment, Mr Rice's purchase was well above the level he is required to hold, indicating a significant dose of confidence.
*17 June 2016: This original version of this article referred to Mr Rice as Tim Rice. This has been updated.
Buys | |||||||
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Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Actual Experience | Robin Young | 07 Jun 16 | 3,500 | 274.9 | 9,622 | 7,200 | 0.019 |
Blancco Technology | Jog Dhody (cfo) | 07 Jun 16 | 15,000 | 215 | 32,250 | 23,469 | 0.040 |
Blancco Technology♥ | Matthew Peacock (ch) | 07 Jun 16 | 100,000 | 215 | 215,000 | 209,728 | 0.360 |
Caffyns | Mike Warren | 07 Jun 16 | 5,000 | 585 | 29,250 | 5,000 | 0.181 |
Capital & Regional♥ | Louis Norval | 07 Jun 16 | 2,500,000 | 60.4 | 1,510,000 | 136,460,303 | 19.500 |
Carclo♥ | Peter Slabbert | 07 Jun 16 | 10,000 | 158.36 | 15,836 | 10,000 | 0.015 |
Challenger Acquisitions | Mark Gustafson (ceo) | 06 Jun 16 | 15,000 | 24 | 3,600 | 825,000 | 5.545 |
Challenger Acquisitions | Mark Gustafson (ceo) | 06 Jun 16 | 15,000 | 24.5 | 3,675 | 860,000 | 5.780 |
Challenger Acquisitions | Mark Gustafson (ceo) | 06 Jun 16 | 20,000 | 23.75 | 4,750 | 810,000 | 5.444 |
Challenger Acquisitions | Mark Gustafson (ceo) | 06 Jun 16 | 20,000 | 24 | 4,800 | 845,000 | 5.680 |
Challenger Acquisitions | Mark Gustafson (ceo) | 06 Jun 16 | 30,000 | 25 | 7,500 | 890,000 | 5.982 |
Computacenter | Greg Lock (ch) | 02 Jun 16 | 4,000 | 837.5 | 33,500 | 464,000 | 0.378 |
Computacenter♥ | Greg Lock (ch) | 02 Jun 16 | 4,940 | 836.5 | 41,323 | 476,700 | 0.389 |
Computacenter♥ | Greg Lock (ch) | 03 Jun 16 | 1,900 | 840.5 | 15,970 | 478,600 | 0.390 |
Computacenter | Greg Lock (ch) | 03 Jun 16 | 4,700 | 840.5 | 39,504 | 471,760 | 0.385 |
Croma Security Solutions | Nicholas Hewson | 08 Jun 16 | 13,750 | 38.1818 | 5,250 | 203,565 | 1.205 |
Croma Security Solutions | Roberto Fiorentino (ceo) | 08 Jun 16 | 25,000 | 37 | 9,250 | 3,775,000 | 22.346 |
Dechra Pharmaceuticals | Tony Rice | 03 Jun 16 | 20,000 | 1140.7 | 228,140 | 20,000 | 0.022 |
EKF Diagnostics* | Julian Baines (ceo) | 07 Jun 16 | 133,333 | 11.25 | 15,000 | 1,855,288 | 0.400 |
EKF Diagnostics* | Adam Reynolds | 07 Jun 16 | 88,889 | 11.25 | 10,000 | 3,318,613 | 0.715 |
Fidelity Japanese Values | Mami Mizutori | 07 Jun 16 | 11,063 | 90.39 | 10,000 | 11,063 | 0.008 |
Fisher (James) & Sons | Charles Rice (ch) | 07 Jun 16 | 2,294 | 1363 | 31,267 | 24,310 | 0.048 |
Greka Engineering & Technology♥ | Randeep Grewal (ch & ceo) | 06 Jun 16 | 37,167,298 | 0.8 | 297,338 | 396,868,528 | 96.886 |
Hydrodec | Lord Moynihan (ch) | 08 Jun 16 | 472,267 | 1.9 | 8,973 | 11,347,050 | 1.525 |
JPMorgan Japan Smaller Companies Trust | Deborah Guthrie | 03 Jun 16 | 7,341 | 270.95 | 19,890 | 7,341 | 0.016 |
JPMorgan Japan Smaller Companies Trust | Deborah Guthrie | 06 Jun 16 | 7,269 | 273.64 | 19,891 | 14,610 | 0.031 |
Kennedy Wilson Europe Real Estate | Mary Ricks | 03 Jun 16 | 20,000 | 1057 | 211,400 | 160,916 | 0.118 |
LXB Retail Properties | Daniel Kitchen | 08 Jun 16 | 72,660 | 64.37 | 46,771 | 540,587 | 0.321 |
Marks and Spencer | Helen Weir (cfo) | 07 Jun 16 | 20,500 | 364.51 | 74,725 | 25,000 | 0.002 |
Pets at Home | Dennis Millard | 03 Jun 16 | 8,000 | 261.02 | 20,882 | 24,327 | 0.005 |
Polypipe | Martin Payne (cfo) | 07 Jun 16 | 30,000 | 317 | 95,100 | 30,000 | 0.015 |
Quarto | Peter Read (ch) | 06 Jun 16 | 10,000 | 237.5 | 23,750 | 10,000 | 0.051 |
Regus | Nina Henderson | 06 Jun 16 | 14,300 | 318.877 | 45,599 | 30,800 | 0.003 |
Rolls-Royce Holdings | Ian Davis (ch) | 07 Jun 16 | 318 | 621.5 | 1,976 | 40,041 | 0.002 |
Rolls-Royce Holdings | Ruth Cairnie | 07 Jun 16 | 312 | 621.5 | 1,939 | 9,443 | 0.001 |
Rolls-Royce Holdings | Sir Frank Chapman | 07 Jun 16 | 637 | 621.5 | 3,959 | 18,855 | 0.001 |
Royal Mail | Orna Ni-Chionna | 03 Jun 16 | 9,321 | 532.3 | 49,616 | 12,634 | 0.001 |
Serco | Rupert Soames (ceo) | 02 Jun 16 | 120,000 | 107 | 128,400 | 1,030,825 | 0.094 |
Shanta Gold* | Toby Bradbury (ceo) | 07 Jun 16 | 250,000 | 6.5 | 16,250 | 650,000 | 0.112 |
Shanta Gold* | Anthony Durrant (ch) | 07 Jun 16 | 273,182 | 6.5 | 17,757 | 2,250,000 | 0.386 |
Shanta Gold* | Robin Fryer | 07 Jun 16 | 75,000 | 6.5 | 4,875 | 675,000 | 0.116 |
Stock Spirits | Miroslaw Stachowicz | 06 Jun 16 | 29,718 | 168.25 | 50,001 | 46,688 | 0.023 |
Symphony International Holdings | Anil Thadani | 02 Jun 16 | 250,000 | 72.9951 | 182,488 | 59,983,149 | 11.358 |
Symphony International Holdings | Anil Thadani | 02 Jun 16 | 250,000 | 74 | 185,000 | 60,233,149 | 11.406 |
Symphony International Holdings | Anil Thadani | 07 Jun 16 | 100,000 | 75 | 75,000 | 60,733,149 | 11.500 |
Symphony International Holdings | Anil Thadani | 07 Jun 16 | 200,000 | 72.5 | 145,000 | 60,433,149 | 11.444 |
Symphony International Holdings | Anil Thadani | 07 Jun 16 | 200,000 | 74 | 148,000 | 60,633,149 | 11.481 |
UDG Healthcare | Brendan McAtamney (ceo) | 02 Jun 16 | 30,000 | 595 | 178,500 | 80,000 | 0.032 |
Value and Income Trust♥ | Matthew Oakeshott | 03 Jun 16 | 25,000 | 227.36 | 56,840 | 2,766,043 | 6.073 |
Value and Income Trust♥ | Matthew Oakeshott | 06 Jun 16 | 107,500 | 231.3 | 248,648 | 2,741,043 | 6.018 |
Value and Income Trust | James Ferguson (ch) | 03 Jun 16 | 25,000 | 227.36 | 56,840 | 845,000 | 1.855 |
Value and Income Trust | James Ferguson (ch) | 06 Jun 16 | 25,000 | 230 | 57,500 | 869,500 | 1.909 |
Value and Income Trust | John Kay | 03 Jun 16 | 25,000 | 227.36 | 56,840 | 250,218 | 0.549 |
Value and Income Trust | John Kay | 06 Jun 16 | 25,000 | 223 | 55,750 | 275,218 | 0.604 |
Value and Income Trust♥ | John Kay | 08 Jun 16 | 10,000 | 241 | 24,100 | 285,218 | 0.626 |
Vesuvius | Nelda Connors | 07 Jun 16 | 9,000 | 341.67566 | 30,751 | 9,693 | 0.004 |
Sells | |||||||
---|---|---|---|---|---|---|---|
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Belvoir Lettings | Mike Goddard (ch & ceo) | 08 Jun 16 | 580,357 | 112 | 650,000 | 7,193,565 | 21.371 |
Berendsen | Andrew Wood | 02 Jun 16 | 5,000 | 1219 | 60,950 | 20,000 | 0.012 |
Derwent London | S P Silver | 08 Jun 16 | 30,000 | 3329 | 998,700 | 213,617 | 0.192 |
Mariana Resources | Eric Roth | 03 Jun 16 | 2,800,000 | 3.5 | 98,000 | 4,781,906 | 0.399 |
Premier Veterinary | Dominic Tonner (ceo) | 06 Jun 16 | 50,000 | 140 | 70,000 | 2,600,837 | 18.642 |
Premier Veterinary | Iain Ross (ch) | 07 Jun 16 | 200,000 | 135 | 270,000 | 505,809 | 3.625 |
*Placing/tender/open offer ♥Spouse/connected party |