John Menzies (MNZS) hasn’t had the smoothest take-off to life as a pure-play aviation services business. With a profit warning in July sending its shares nosediving to a 52-week low, the group swung to a £4.4m statutory pre-tax loss in the first half of 2019. This came amid weak volumes in its cargo handling business, airlines trimming their flight schedules and the loss of exclusive licences in 2018.
IC TIP:
Sell
at
408p
Against this turbulent backdrop, executive chairman Philipp Joeinig recently acquired 1.2m shares worth £4.7m, taking his stake to 1.54 per cent. Having assumed the role in July, 850,000 of the purchased shares relate to a new ‘transformation incentive plan’ (TIP) approved at the general meeting last month. Under this “matching award”, if certain performance targets are achieved by the end of 2022, Mr Joeinig will be rewarded with an equal number of shares.
Perhaps in a sign of confidence, he chose to acquire an additional 350,000 shares, separate to the TIP, at the same time.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Acorn Income Fund | Nigel Ward (ch) | 25 Sep 19 | 7,000 | 340.5 | 23,835 | 7,000 | 0.044 |
| AFH Financial | Mark Chambers | 23 Sep 19 | 8,620 | 290 | 24,998 | 58,223 | 0.136 |
| Airtel Africa | Liisa Poutiainen | 20 Sep 19 | 11,000 | 62.94 | 6,923 | 11,000 | 0.000 |
| Amigo | Richard Price | 19 Sep 19 | 126,569 | 73.2 | 92,649 | 460,000 | 0.097 |
| Angus Energy♥ | George Lucan | 25 Sep 19 | 719,082 | 1.384 | 9,952 | 2,174,880 | 0.402 |
| Asiamet Resources | Antony Manini (ch) | 19 Sep 19 | 200,000 | 3.25 | 6,500 | 33,892,183 | 3.090 |
| Aviva | Glyn Barker | 20 Sep 19 | 25,000 | 390.528 | 97,632 | 47,700 | 0.001 |
| Belvoir* | Michael Stoop (ch) | 23 Sep 19 | 10,000 | 105 | 10,500 | 20,000 | 0.057 |
| Belvoir* | Paul George | 23 Sep 19 | 10,000 | 105 | 10,500 | 20,000 | 0.057 |
| Bigblu Broadband | Francis Waters (cfo) | 20 Sep 19 | 9,100 | 109.75 | 9,987 | 305,580 | 0.531 |
| Bonhill | David Brown (fd) | 23 Sep 19 | 192,307 | 52 | 100,000 | 983,973 | 2.025 |
| Boot (Henry) | Darren Littlewood (fd) | 19 Sep 19 | 5,000 | 237.5 | 11,875 | 152,500 | 0.115 |
| Cambridge Cognition | Steven Powell (ch) | 20 Sep 19 | 25,000 | 26.5 | 6,625 | 116,375 | 0.481 |
| Cambridge Cognition | Steven Powell (ch) | 20 Sep 19 | 25,000 | 27.5 | 6,875 | 141,375 | 0.585 |
| Cambridge Cognition | Matthew Stork (ceo) | 24 Sep 19 | 50,000 | 28.5 | 14,250 | 50,000 | 0.207 |
| Cenkos Securities | Jeremy Miller | 19 Sep 19 | 20,000 | 51.75 | 10,350 | 20,000 | 0.035 |
| City of London Investment | Susannah Nicklin | 19 Sep 19 | 1,175 | 422 | 4,959 | 4,309 | 0.016 |
| Clinigen | Nicholas Keher (cfo) | 19 Sep 19 | 3,900 | 893 | 34,827 | 3,900 | 0.003 |
| Coral Products | Joseph Grimmond (ch) | 25 Sep 19 | 250,000 | 5.69 | 14,225 | 5,623,337 | 6.807 |
| Coral Products | Paul Freud | 25 Sep 19 | 100,000 | 5.69 | 5,690 | 2,048,333 | 2.479 |
| Coral Products | Joseph Grimmond (ch) | 25 Sep 19 | 250,000 | 5.799 | 14,498 | 5,873,337 | 7.109 |
| Falanx | Alexander Hambro (ch) | 24 Sep 19 | 250,000 | 1.75 | 4,375 | 500,000 | 0.125 |
| Falanx | Michael Read (ceo) | 24 Sep 19 | 400,000 | 1.789 | 7,156 | 11,053,940 | 2.761 |
| Falanx | Alexander Hambro (ch) | 24 Sep 19 | 750,000 | 1.975 | 14,813 | 1,250,000 | 0.312 |
| Hunters Property | Harry Hill | 25 Sep 19 | 30,000 | 42.5 | 12,750 | 642,505 | 1.960 |
| IG | June Felix (ceo) | 19 Sep 19 | 7,800 | 625.5 | 48,789 | 97,049 | 0.026 |
| Inspiration Healthcare* | Mike Briant (cfo) | 24 Sep 19 | 34,323 | 58 | 19,907 | 34,323 | 0.089 |
| Inspiration Healthcare* | Mark Abrahams (ch) | 24 Sep 19 | 86,047 | 58 | 49,907 | 241,201 | 0.628 |
| Inspiration Healthcare* | Brook Nolson | 24 Sep 19 | 34,323 | 58 | 19,907 | 34,323 | 0.089 |
| Landore Resources* | William Humphries (ceo) | 24 Sep 19 | 13,793,103 | 0.725 | 100,000 | 87,294,365 | 6.696 |
| LoopUp | Stephen Flavell (co-ceo) | 23 Sep 19 | 89,285 | 56 | 50,000 | 2,625,875 | 4.763 |
| LoopUp | Michael Hughes (co-ceo) | 23 Sep 19 | 133,500 | 56 | 74,760 | 2,606,627 | 4.728 |
| LoopUp | Simon Healey (cfo) | 23 Sep 19 | 44,500 | 56 | 24,920 | 64,500 | 0.117 |
| Menzies (John) | Philipp Joeinig (ch) | 23 Sep 19 | 1,200,000 | 390.3 | 4,683,600 | 1,300,000 | 1.543 |
| Mereo BioPharma | Denise Scots-Knight (ceo) | 19 Sep 19 | 13,500 | 59 | 7,965 | 911,699 | 0.931 |
| Murray Income Trust | Merryn Somerset Webb | 23 Sep 19 | 1,200 | 851.8999 | 10,223 | 1,200 | 0.002 |
| Newmark Security | Robert Waddington | 20 Sep 19 | 1,000,000 | 0.695 | 6,950 | 2,800,000 | 0.597 |
| Personal Group | Michael Dugdale (cfo) | 23 Sep 19 | 1,168 | 350.75 | 4,097 | 41,353 | 0.134 |
| Quixant | Gaye Hudson | 19 Sep 19 | 5,000 | 164.5 | 8,225 | 7,350 | 0.011 |
| Safestyle | Julia Porter | 21 Sep 19 | 9,671 | 55.8 | 5,396 | 9,671 | 0.012 |
| Sage Group (The) | Jonathan Bewes | 23 Sep 19 | 10,000 | 680.4 | 68,040 | 10,000 | 0.001 |
| Shearwater♥† | David Williams (ch) | 25 Sep 19 | 5,000,000 | 1.7 | 85,000 | na | na |
| Shearwater♥† | Philip Higgins (ceo) | 25 Sep 19 | 5,000,000 | 1.72 | 86,000 | na | na |
| Shires Income | Robin Archibald | 20 Sep 19 | 3,841 | 260.315 | 9,999 | 15,504 | 0.051 |
| SVM UK Emerging Fund | Peter Dicks (ch) | 24 Sep 19 | 25,000 | 86.5 | 21,625 | 297,500 | 4.917 |
| UIL | Peter Burrows (ch) | 19 Sep 19 | 60,000 | 248 | 148,800 | 799,617 | 0.911 |
| Wameja♥ | John Conoley (ch) | 20 Sep 19 | 188,114 | 5.3 | 9,970 | 2,626,692 | 0.217 |
| XLMedia | Ory Weihs (ceo) | 23 Sep 19 | 100,000 | 60 | 60,000 | 5,990,972 | 3.202 |
| XLMedia | Ory Weihs (ceo) | 23 Sep 19 | 224,000 | 62 | 138,880 | 5,890,972 | 2.849 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Clarkson♥ | Birger Nergaard | 24 Sep 19 | 75,000 | 2,326.25 | 1,744,688 | 30,869 | 0.102 |
| GAN | Dermot Smurfit (ceo) | 20 Sep 19 | 250,000 | 84.92 | 212,300 | 8,613,447 | 10.108 |
| MJ Gleeson♥ | Christopher Mills | 20 Sep 19 | 50,000 | 792 | 396,000 | 6,059,640 | 11.101 |
| MJ Gleeson♥ | Christopher Mills | 20 Sep 19 | 4,640 | 814.6733 | 37,801 | 6,055,000 | 11.092 |
| Riverstone Energy♥†† | Ken Ryan/David Leuschen/Pierre Lapeyre, Jr | 19 Sep 19 | 130,874 | 662.99 | 867,682 | 6,791,494 | 8.500 |
| Riverstone Energy♥††† | Ken Ryan/David Leuschen/Pierre Lapeyre, Jr | 19 Sep 19 | 169,126 | 662.99 | 1,121,288 | 6,803,242 | 8.515 |
| *Placing/tender/open offer ♥Spouse/connected party | |||||||
| †Share purchases were completed prior to the share capital consolidation of 100 to 1, effected on 26 Sep | |||||||
| ††Riverstone Energy Limited Capital Partners, LP – a personal closely associated (PCA) with three directors of Riverstone Energy – has sold 130,874 shares in the company. | |||||||
| †††REL Coinvestment, LP – a PCA with three directors of Riverstone Energy – has sold 169,126 shares in the company. | |||||||
