Directors buying shares in a company after a major announcement is often viewed as an attempt to signal their confidence to the market. In the case of Augean (AUG), however, the share price spike that followed full-year results last month indicated the market had a fair amount of confidence already, despite a 19 per cent drop in profits.
The purchases made by executive chairman Jim Meredith and non-execs Roger McDowell and Christopher Mills should therefore be taken as an indicator of future growth. All three significantly increased their already sizable stakes in the waste management group, with Mr Mills making the largest purchase through the North Atlantic Smaller Companies Trust, of which he is the chief executive.
All three purchases were made before HMRC issued pre-assessment notifications to the group for £37.6m. Management was expecting the notification and said the correct landfill tax had been collected and paid, according to legal advice and independent reviews. In an announcement the group said the notifications were “without merit”.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| 4imprint | David Seekings | 27 Mar 18 | 1,000 | 1,818 | 18,180 | 177,269 | 0.631 |
| 4imprint | Kevin Lyons-Tarr | 28 Mar 18 | 1,000 | 1,818 | 18,180 | 252,827 | 0.900 |
| Augean♥ | Christopher Mills | 22 Mar 18 | 450,000 | 27 | 121,500 | 21,850,000 | 21.224 |
| Augean♥ | Christopher Mills | 22 Mar 18 | 1,550,000 | 27 | 418,500 | 20,150,000 | 19.573 |
| Augean♥ | Christopher Mills | 23 Mar 18 | 350,000 | 26 | 91,000 | 22,200,000 | 21.564 |
| Augean♥ | Christopher Mills | 23 Mar 18 | 1,250,000 | 26 | 325,000 | 21,400,000 | 20.787 |
| Augean | Jim Meredith (ch) | 22 Mar 18 | 1,000,000 | 27 | 270,000 | 2,500,000 | 2.428 |
| Augean | Roger McDowell | 23 Mar 18 | 1,000,000 | 26.03 | 260,300 | 4,000,000 | 3.885 |
| Baillie Gifford US Growth Trust | Graham Paterson | 23 Mar 18 | 50,000 | 100 | 50,000 | 50,000 | 0.029 |
| Baillie Gifford US Growth Trust | Tom Burnet (ch) | 23 Mar 18 | 50,000 | 100 | 50,000 | 50,000 | 0.029 |
| Baillie Gifford US Growth Trust | Sue Inglis | 23 Mar 18 | 50,000 | 100 | 50,000 | 50,000 | 0.029 |
| BCA Marketplace | Avril Palmer-Baunack | 21 Mar 18 | 13,524 | 147.05 | 19,887 | 13,839,162 | 1.721 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 1,315 | 150.35 | 1,977 | 13,847,729 | 1.722 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 1,317 | 150.18 | 1,978 | 13,842,458 | 1.721 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 1,971 | 150.8 | 2,972 | 13,849,700 | 1.722 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 1,976 | 150.4 | 2,972 | 13,846,414 | 1.722 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 1,979 | 150.2 | 2,972 | 13,841,141 | 1.721 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 1,980 | 150.1 | 2,972 | 13,844,438 | 1.721 |
| BCA Marketplace | Avril Palmer-Baunack | 22 Mar 18 | 3,291 | 150.8 | 4,963 | 13,852,991 | 1.722 |
| BCA Marketplace | Avril Palmer-Baunack | 23 Mar 18 | 17,144 | 152.41 | 26,129 | 13,870,135 | 1.725 |
| Dunelm | Keith Down (cfo) | 22 Mar 18 | 7,645 | 518 | 39,601 | 47,743 | 0.024 |
| FIH | Robin Williams | 27-Mar-18 | 1,935 | 303 | 5,863 | 1,935 | 0.016 |
| Fevertree | Jeff Popkin | 27 Mar 18 | 600 | 2844.64049 | 17,068 | 1,100 | 0.001 |
| FirstGroup | Tim O'Toole (ceo) | 23 Mar 18 | 18,083 | 78.25 | 14,150 | 1,246,120 | 0.103 |
| GETECH | Peter Stephens | 23 Mar 18 | 250,000 | 26.5 | 66,250 | 1,888,500 | 5.027 |
| Greggs | Richard Hutton (fd) | 23 Mar 18 | 1,146 | 1,181.50 | 13,540 | 30,820 | 0.030 |
| Greggs | Roger Whiteside (ceo) | 23 Mar 18 | 3,477 | 1,181.50 | 41,081 | 198,949 | 0.197 |
| HICL Infrastructure | Chris Russell | 26 Mar 18 | 20,000 | 135.85 | 27,170 | 113,895 | 0.006 |
| HICL Infrastructure | Susie Farnon | 26 Mar 18 | 20,000 | 135.85 | 27,170 | 59,931 | 0.003 |
| HSBC | Joachim Faber | 27 Mar 18 | 26,616 | 672.85 | 179,086 | 93,221 | 0.000 |
| Horizon Discovery♥ | Jonathan Milner | 26 Mar 18 | 304,000 | 161.7 | 491,568 | 10,445,172 | 7.006 |
| JPMorgan Mid Cap Investment Trust | Michael Hughes (ch) | 22 Mar 18 | 3,500 | 1190 | 41,650 | 12,500 | 0.052 |
| Johnson Matthey♥ | John O'Higgins | 23 Mar 18 | 1,500 | 3072 | 46,080 | 1,500 | 0.001 |
| Kenmare Resources | Graham Martin | 23 Mar 18 | 20,500 | 235 | 48,175 | 57,820 | 0.053 |
| Murray International Trust | Kevin Carter (ch) | 21 Mar 18 | 5,000 | 1,195.24 | 59,762 | 35,000 | 0.027 |
| Murray International Trust | Kevin Carter (ch) | 21 Mar 18 | 5,000 | 1,196 | 59,800 | 40,000 | 0.031 |
| Pennon | Sir John Parker (ch) | 27 Mar 18 | 17,027 | 587.28 | 99,996 | 27,027 | 0.006 |
| Pets at Home | Mike Iddon (cfo) | 27 Mar 18 | 30,333 | 163.88 | 49,710 | 76,329 | 0.014 |
| Pets at Home | Stanislas Laurent | 27 Mar 18 | 30,000 | 167 | 50,100 | 30,000 | 0.005 |
| Segro | Carol Fairweather | 23 Mar 18 | 12,000 | 584.6483 | 70,158 | 12,000 | 0.001 |
| Taptica International | Hagai Tal (ceo) | 26 Mar 18 | 17,250 | 365.75 | 63,092 | 9,428,759 | 13.950 |
| Taptica International | Hagai Tal (ceo) | 26 Mar 18 | 25,000 | 360 | 90,000 | 9,453,759 | 13.987 |
| Taptica International | Tim Weller (ch) | 26 Mar 18 | 5,634 | 354.75 | 19,987 | 87,332 | 0.129 |
| Vectura | Juliet Thompson | 22 Mar 18 | 49,033 | 74 | 36,284 | 49,033 | 0.007 |
| Venture Life | Sharon Collins | 26 Mar 18 | 82,916 | 47.6288 | 39,492 | 1,665,333 | 4.521 |
| Wood (John) | Roy Franklin | 23 Mar 18 | 6,000 | 555.996 | 33,360 | 6,000 | 0.001 |
| Sells | ||||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) | |
| BlackRock Frontiers Investment Trust | Sarmad El Zaouk | 21 Mar 18 | 1,578 | 162 | 2,556 | 8,378 | 0.004 | |
| BlackRock Frontiers Investment Trust | Sarmad El Zaouk | 22 Mar 18 | 8,378 | 160.835 | 13,475 | 0 | 0.000 | |
| Escher | Fionnuala Higgins | 27 Mar 18 | 895,160 | 185 | 1,656,046 | 0 | 0.000 | |
| Escher | Liam Church (ceo) | 27 Mar 18 | 895,160 | 185 | 1,656,046 | 0 | 0.000 | |
| Greggs | Roger Whiteside (ceo) | 27 Mar 18 | 20,601 | 1,209.91 | 249,253 | 222,451 | 0.220 | |
| Impax Asset Management♥ | Ian Simm (ceo) | 27 Mar 18 | 8,955 | 153 | 13,701 | 9,477,047 | 7.267 | |
| Independent Investment Trust (The) | D McDougall (ch) | 21 Mar 18 | 50,000 | 741 | 370,500 | 8,299,500 | 14.962 | |
| Independent Investment Trust (The)♥ | James Ferguson | 23 Mar 18 | 15,000 | 720.5 | 108,075 | 925,000 | 1.668 | |
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