A month ago, Volex (VLX) demonstrated that it remains in an expansive mood when it confirmed its intention to buy Ireland-based cable harness supplier Silcotec Europe for up to €18.1m (£15.9m). The purchase came within a few weeks of a deal to acquire US peer MC Electronics via an all-share arrangement, which expanded Volex’s product offering in medical and industrial cables, wire harnesses and electro-mechanical assemblies.
IC TIP:
Hold
at
80p
Both deals reflect the group’s determination to take advantage of the highly fragmented cable assembly industry, not only building scale but also the commercial breadth of the business. The Silcotec acquisition has been funded through a conditional placing to raise £36m through the issue of 48m shares at a price of 75p – a slight discount to the previous day’s close. Nat Rothschild, the group’s chairman and chief executive, led the charge, snapping up 11.7m new shares for an aggregate outlay of £8.74m. The scion of the banking dynasty, who is probably more closely associated with investments in natural resource companies, now holds just over 24 per cent of the group’s share capital.
| Buys | |||||||
| Company | Director | Date | No of shares | Price (p) | Value (£) | Holding (shares) | Holding (%) |
| Accrol Holdings * | Dan Wright | 01 Jun 18 | 1,333,333 | 15 | 200,000 | 1,748,501 | 0.896 |
| Accrol Holdings * | Angus Martin Leitch | 01 Jun 18 | 266,666 | 15 | 40,000 | 266,666 | 0.137 |
| Accrol Holdings * | 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 | |||||||
