RPC's (RPC) recent full-year numbers caused its shares to close 12 per cent lower, adding to the already significant de-rating suffered since last October. Despite reporting strong revenue and earnings growth, the company has been dogged by concerns over cash conversion. Issues were first raised by Northern Trust Capital Markets in the first quarter of last year, which suggested a run of acquisitions were masking disappointing capital returns. Strong growth has continued, but the company’s interpretation of performance metrics has seemingly scared off potential investors.
IC TIP:
Hold
at
697p
In light of this, it is hardly surprising to see Claire Pike, spouse of non-executive chairman Jamie Pike, taking advantage of the weak share price. Ms Pike bought just under 15,000 shares, topping up her family’s stake in the company to 0.089 per cent of the issued shares.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Accrol* | Dan Wright | 01 Jun 18 | 1,333,333 | 15 | 200,000 | 1,748,501 | 0.896 |
| Accrol* | Angus Martin Leitch | 01 Jun 18 | 266,666 | 15 | 40,000 | 266,666 | 0.137 |
| Accrol* | Gareth Paul Jenkins (ce) | 01 Jun 18 | 500,000 | 15 | 75,000 | 600,000 | 0.307 |
| Ariana Resources | Michael John de Villiers (ch & ce) | 05 Jun 18 | 3,923,077 | 1.25 | 49,038 | 45,923,077 | 4.334 |
| Assura | Jayne Cottam (cfo) | 31 May 18 | 26,000 | 57.5 | 14,950 | 43,543 | 0.002 |
| Bank of Georgia | Neil Janin | 01 Jun 18 | 651 | 1,959 | 12,750 | 651 | 0.001 |
| Bigblu Broadband | Stephen Gavin Morana | 31 May 18 | 10,850 | 109.85 | 11,919 | 199,783 | 0.355 |
| Bigblu Broadband♥ | Christopher Harwood Bernard Mills | 04 Jun 18 | 258,334 | 117.95 | 304,705 | 13,233,334 | 23.501 |
| Boot (Henry) | Darren Louis Littlewood (fd) | 31 May 18 | 7,206 | 299 | 21,546 | 57,206 | 0.043 |
| Coro Energy | James Graeme Menzies | 31 May 18 | 1,000,000 | 3.18 | 31,750 | 1,000,000 | 0.139 |
| Costain♥ | Jacqueline de Rojas | 04 Jun 18 | 3,194 | 469.52 | 14,996 | 3,194 | 0.003 |
| De La Rue | Nick P S Bray | 04 Jun 18 | 18,348 | 545 | 99,997 | 18,348 | 0.018 |
| Destiny Pharma♥† | Sir Anthony Nigel Russell Rudd (ch) | 04 Jun 18 | 35,800 | 110.04 | 39,394 | 1,229,900 | 2.823 |
| Destiny Pharma† | Sir Anthony Nigel Russell Rudd (ch) | 04 Jun 18 | 39,100 | 110.04 | 43,026 | 1,194,100 | 2.741 |
| Dignity | Mary Jane McNamara | 04 Jun 18 | 4,500 | 1,090 | 49,050 | 4,500 | 0.009 |
| DP Eurasia NV | Peter Wodehouse Williams (ch) | 31 May 18 | 6,360 | 157.67 | 10,028 | 81,769 | 0.056 |
| Echo Energy* | Fiona Margaret Barkham (ce) | 31 May 18 | 83,333 | 12 | 10,000 | 309,432 | 0.065 |
| EU Supply* | Steffen Patrik Karlsson | 31 May 18 | 100,000 | 15 | 15,000 | 1,637,267 | 2.283 |
| EU Supply* | Thomas Bo Beergrehn (ce) | 31 May 18 | 183,334 | 15 | 27,500 | 9,229,237 | 12.869 |
| FirstGroup | David Robbie | 31 May 18 | 30,000 | 91.84 | 27,551 | 60,000 | 0.005 |
| FirstGroup | Drummond Hall | 01 Jun 18 | 20,000 | 93.52 | 18,704 | 50,990 | 0.004 |
| Franchise Brands | David John Poutney | 01 Jun 18 | 250,000 | 81 | 202,500 | 3,250,791 | 4.182 |
| Galliford Try | Terry Miller | 06 Jun 18 | 1,800 | 991.5 | 17,847 | 2,066 | 0.002 |
| Georgia Capital | Irakli Gilauri (ch & ce) | 31 May 18 | 3,320 | 928 | 30,810 | 779,736 | 1.980 |
| Georgia Capital | Irakli Gilauri (ch & ce) | 01 Jun 18 | 45,000 | 1,065 | 479,250 | 824,736 | 2.094 |
| Georgia Capital | Jyrkie Talvitie | 06 Jun 18 | 4,000 | 1,089 | 43,547 | 5,762 | 0.015 |
| Georgia Capital | Kim Bradley | 05 Jun 18 | 6,700 | 1,118 | 74,873 | 7,950 | 0.020 |
| Georgia Capital | Massimo Gesua sive Salvadori | 01 Jun 18 | 1,050 | 1,080 | 11,340 | 11,699 | 0.030 |
| Georgia Capital | Massimo Gesua sive Salvadori | 01 Jun 18 | 1,140 | 1,051 | 11,981 | 10,649 | 0.027 |
| Georgia Capital | Massimo Gesua sive Salvadori | 31 May 18 | 1,606 | 949 | 15,241 | 9,509 | 0.024 |
| Georgia Capital | Massimo Gesua sive Salvadori | 31 May 18 | 5,290 | 950 | 50,255 | 7,383 | 0.019 |
| Gooch & Housego♥ | Gary Bruce Bullard | 06 Jun 18 | 1,750 | 1,385 | 24,238 | 1,750 | 0.007 |
| Gresham House | Simon Leslie Stilwell | 31 May 18 | 6,220 | 440 | 27,368 | 43,780 | 0.218 |
| Hydrogen | Richard James Green | 31 May 18 | 466,370 | 32 | 149,238 | 633,036 | 1.892 |
| Hydrogen | Stephen Ronald Puckett (ch) | 31 May 18 | 466,370 | 32 | 149,238 | 1,016,370 | 3.037 |
| Independent Oil & Gas | Mark Andrew Hughes | 05 Jun 18 | 178,000 | 22.33 | 39,747 | 178,000 | 0.144 |
| Investec | Hendrik du Toit | 31 May 18 | 106,000 | 567 | 601,020 | 106,000 | 0.016 |
| ITE | Mark Samuel Shashoua (ce) | 01 Jun 18 | 53,200 | 141 | 75,012 | 338,735 | 0.126 |
| Keras Resources | Brian Michael Moritz (ch) | 04 Jun 18 | 7,000,000 | 0.37 | 25,900 | 49,627,178 | 2.194 |
| Keras Resources | David Russell Stuart Reeves | 04 Jun 18 | 29,972,663 | 0.37 | 110,899 | 384,897,714 | 17.017 |
| Keras Resources | Russell John Lamming (ce) | 04 Jun 18 | 8,000,000 | 0.37 | 29,600 | 68,219,961 | 3.016 |
| Pantheon International | Sir Laurence Henry Phillip Magnus (ch) | 01 Jun 18 | 6,324 | 2,018 | 127,618 | 14,324 | 0.026 |
| RPC♥ | James Robert Provan Pike (ch) | 06 Jun 18 | 14,570 | 686.37 | 100,004 | 359,830 | 0.089 |
| Sportech | Richard Quentin Mortimer Cooper | 01 Jun 18 | 125,000 | 83.5 | 104,375 | 125,000 | 0.067 |
| System1 | Graham L Blashill | 04 Jun 18 | 5,000 | 302.85 | 15,143 | 10,000 | 0.080 |
| Tristel | David William Edmund Orr | 31 May 18 | 7,000 | 306.05 | 21,424 | 19,511 | 0.045 |
| Volex * | Nathaniel Rothschild (ch & ce) | 04 Jun 18 | 11,654,538 | 75 | 8,740,904 | 34,670,309 | 24.164 |
| VPC Specialty Lending Investments♥ | Richard N. Levy | 01 Jun 18 | 69,165 | 80 | 55,332 | 2,945,235 | 0.806 |
| Sells | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Bloomsbury Publishing | John Nigel Newton (ce) | 31 May 18 | 130,000 | 234.23 | 304,499 | 1,017,263 | 1.350 |
| Intermediate Capital | Philip Keller (fd) | 01 Jun 18 | 148,783 | 1,165 | 1,733,322 | 889,304 | 0.306 |
| PageGroup | Stephen John Ingham (ce) | 06 Jun 18 | 650,000 | 546.89 | 3,554,772 | 851,625 | 0.260 |
| Petards | Raschid Michael Abdullah (ch) | 05 Jun 18 | 1,000,000 | 22.5 | 225,000 | 2,476,909 | 4.386 |
| Petards♥ | Paul John Negus | 05 Jun 18 | 50,000 | 24.5 | 12,250 | 575,000 | 1.018 |
| Provident Financial | Andrew Charles Fisher (fd) | 04 Jun 18 | 123,000 | 663.52 | 816,133 | 339,371 | 0.134 |
| Ricardo | David Shemmans (ce) | 05 Jun 18 | 1,500 | 1,034 | 15,504 | 102,585 | 0.192 |
| Ricardo♥ | David Shemmans (ce) | 05 Jun 18 | 1,500 | 1,034 | 15,504 | 101,085 | 0.189 |
| The Property Franchise♥ | Richard Wilson Martin (ch) | 06 Jun 18 | 810,000 | 138.6 | 1,122,660 | 10,189,950 | 39.461 |
| YouGov | Alexander George McIntosh (cfo) | 04 Jun 18 | 8,179 | 473.5 | 38,728 | 20,739 | 0.020 |
| YouGov♥ | Alexander George McIntosh (cfo) | 04 Jun 18 | 11,821 | 470.2 | 55,582 | 8,918 | 0.008 |
*Placing/tender/open offer ♥Spouse/connected party †Sipp/Isa | |||||||
