Sheikh Mubarak A. M. Al Sabah, a director at Action Hotels (AHCG), has followed the well-trodden investment strategy to ‘buy on the dips’. He purchased just over 9.7m shares in the Middle Eastern hotel group at 23p each. The £2.23m transaction means the director now owns more than 107m shares, or nearly three-quarters of Action Hotels’ share capital.
But if the shares were bought in advance of a turnaround, it's not certain where the catalyst for a share price re-rating actually lies. In a pre-close trading update in March, the company warned that pre-tax losses will be “materially higher” than expected at $12.2m – double the $6.3m loss before tax reported in 2016. Management has blamed the inability to capitalise interest costs after two hotel openings were delayed, early repayment fees and higher depreciation charges.
Buys | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Action Hotels | Sheikh Mubarak (ch) | 05 Apr 18 | 9,715,463 | 23 | 2,234,556 | 107,021,079 | 72.489 |
BH Global | Julia Chapman | 11 Apr 18 | 1,081 | 1380 | 14,918 | 1,081 | 0.005 |
Best of the Best | Michael Hindmarch (ch) | 06 Apr 18 | 7,500 | 217 | 16,275 | 888,222 | 8.796 |
Best of the Best | Michael Hindmarch (ch) | 09 Apr 18 | 11,500 | 230.869 | 26,550 | 899,722 | 8.909 |
British Empire Trust | Anja Balfour | 05 Apr 18 | 4,300 | 700.745 | 30,132 | 7,300 | 0.006 |
Cenkos Securities | Gerald Aherne (ch) | 10 Apr 18 | 19,056 | 104.95 | 19,999 | 75,320 | 0.136 |
City Merchants High Yield Trust♥ | John Boothman | 09 Apr 18 | 11,700 | 187.47 | 21,934 | 75,000 | 0.079 |
City Merchants High Yield Trust♥ | John Boothman | 09 Apr 18 | 13,300 | 186.8 | 24,844 | 63,300 | 0.066 |
Collagen Solutions | David Evans (ch) | 10 Apr 18 | 3,142,857 | 2.75 | 86,429 | 42,537,411 | 13.108 |
Devro | Malcolm Swift | 09 Apr 18 | 5,000 | 202.98 | 10,149 | 5,000 | 0.003 |
Equiniti | Guy Wakeley (ceo) | 09 Apr 18 | 6,869 | 289.62 | 19,894 | 1,103,906 | 0.303 |
Essentra | Paul Forman (ceo) | 06 Apr 18 | 20,000 | 429.5 | 85,900 | 160,000 | 0.061 |
Fevertree Drinks | Kevin Havelock | 09 Apr 18 | 5,000 | 2,681.90 | 134,095 | 10,521 | 0.009 |
Fevertree Drinks | Kevin Havelock | 09 Apr 18 | 5,000 | 2,684.61 | 134,231 | 5,521 | 0.005 |
Frenkel Topping | Stephen Bentley (cfo) | 11 Apr 18 | 205,841 | 48.128 | 99,067 | 205,841 | 0.262 |
Grafton♥ | David Arnold (cfo) | 10 Apr 18 | 2,631 | 764.76 | 20,121 | 59,131 | 0.025 |
Grafton♥ | David Arnold (cfo) | 10 Apr 18 | 2,869 | 764.31 | 21,928 | 62,000 | 0.026 |
Grafton | David Arnold (cfo) | 10 Apr 18 | 2,872 | 765.27 | 21,979 | 56,500 | 0.024 |
Horizon Discovery♥ | Jonathan Milner | 05 Apr 18 | 370,000 | 132 | 488,400 | 10,815,172 | 7.254 |
Horizon Discovery | Richard Vellacott | 05 Apr 18 | 37,830 | 131.5 | 49,746 | 75,699 | 0.051 |
Lamprell | Christopher McDonald (ceo) | 10 Apr 18 | 200,000 | 78.73 | 157,460 | 536,980 | 0.157 |
Morrison (Wm) Supermarkets | Kevin Havelock | 10 Apr 18 | 100,000 | 226.05 | 226,050 | 100,000 | 0.004 |
Mortgage Advice Bureau | Katherine Innes-Ker (ch) | 05 Apr 18 | 3,190 | 623 | 19,874 | 12,307 | 0.024 |
NAHL | Tim Aspinall | 06 Apr 18 | 10,000 | 140 | 14,000 | 10,000 | 0.022 |
National Express | Jane Kingston | 11 Apr 18 | 3,000 | 404.3497 | 12,130 | 5,100 | 0.001 |
Next | Michael Roney (ch) | 06 Apr 18 | 1,053 | 4,722.12 | 49,724 | 25,132 | 0.018 |
Next | Michael Roney (ch) | 06 Apr 18 | 1,263 | 4,722.91 | 59,650 | 29,127 | 0.020 |
Next | Michael Roney (ch) | 06 Apr 18 | 2,732 | 4,733.31 | 129,314 | 27,864 | 0.020 |
Oakley Capital Investments | Christopher Wetherhill (ch) | 11 Apr 18 | 14,700 | 169.75 | 24,953 | 214,700 | 0.105 |
Oxford BioMedica♥ | Andrew Heath | 09 Apr 18 | 120,000 | 11 | 13,200 | 1,800,000 | 0.055 |
Oxford BioMedica♥ | Martin Diggle | 10 Apr 18 | 1,000,000 | 11 | 110,000 | 582,008,434 | 17.724 |
Oxford BioMedica | Peter Nolan | 05 Apr 18 | 371,450 | 10.8 | 40,117 | 2,289,771 | 0.070 |
Polymetal International♥ | Marina Grönberg | 09 Apr 18 | 2,800 | 620 | 17,360 | 50,389 | 0.012 |
Polymetal International | Marina Grönberg | 09 Apr 18 | 4,000 | 652 | 26,080 | 35,400 | 0.008 |
Polymetal International♥ | Marina Grönberg | 09 Apr 18 | 10,000 | 643 | 64,300 | 47,589 | 0.011 |
Restaurant Group | Kirk Davis (cfo) | 05 Apr 18 | 24,000 | 262.8 | 63,072 | 24,000 | 0.012 |
Rio Tinto | Simon Henry | 10 Apr 18 | 500 | 3713.29 | 18,566 | 500 | 0.000 |
SThree | James Bilefield | 05 Apr 18 | 10,000 | 362.475 | 36,248 | 10,000 | 0.008 |
St Modwen Properties | Jamie Hopkins | 09 Apr 18 | 12,564 | 396.25 | 49,785 | 12,564 | 0.006 |
TMT Investments* | Alexander Selegenev | 06 Apr 18 | 20,576 | 243 | 50,000 | 50,576 | 0.173 |
TP ICap | David Shalders | 09 Apr 18 | 4,470 | 444.9 | 19,887 | 8,719 | 0.002 |
Tasty | Jonny Plant | 05 Apr 18 | 311,250 | 14 | 43,575 | 4,154,579 | 6.948 |
Sells | |||||||
Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
Accesso Technology | John Alder (fd) | 05 Apr 18 | 35,250 | 2,200 | 775,500 | 37,913 | 0.144 |
Accesso Technology | Tom Burnet (ch) | 05 Apr 18 | 226,909 | 2,200 | 4,991,998 | 224,158 | 0.851 |
Beazley♥ | Martin Bride (fd) | 10 Apr 18 | 2,667 | 577 | 15,389 | 169,643 | 0.032 |
Beazley | Martin Bride (fd) | 10 Apr 18 | 2,668 | 577 | 15,394 | 172,310 | 0.033 |
Costain | Andrew Wyllie (ce) | 10 Apr 18 | 14,420 | 460.6 | 66,419 | 452,777 | 0.427 |
Costain | Anthony Bickerstaff (fd) | 10 Apr 18 | 9,613 | 460.6 | 44,277 | 256,767 | 0.242 |
Fulcrum Utility Services | Philip Holder (ch) | 05 Apr 18 | 37,200 | 71 | 26,412 | 917,466 | 0.434 |
GKN | Mark Sclater (fd) | 05 Apr 18 | 13,889 | 430 | 59,723 | 47,461 | 0.003 |
GKN | Phil Swash | 05 Apr 18 | 5,000 | 429.6 | 21,480 | 143,424 | 0.008 |
Independent Investment Trust (The) | D McDougall (ch) | 10 Apr 18 | 25,000 | 710 | 177,500 | 8,244,500 | 14.863 |
Independent Investment Trust (The) | Maxwell Ward | 06 Apr 18 | 3,600 | 705 | 25,380 | 3,946,600 | 7.115 |
Palace Capital | Anthony Dove | 06 Apr 18 | 6,000 | 324 | 19,440 | 85,000 | 0.185 |
Topps Tiles | Rob Parker (fd) | 10 Apr 18 | 97,500 | 69 | 67,275 | 320,395 | 0.166 |
*Placing/tender/open offer ♥Spouse/connected party |