Updates

Character - Directors buy shares

August 2009

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

In a very bullish development, it was announced during the month that 3i has sold its holding of 11.5m shares (equivalent to 27.8% of the equity) giving directors a not often available opportunity to fill their boots at a reasonable price. Of the shares, 7m (20.3%) were bought by the company for cancellation. Of the remaining shares, finance director Kiran Shah picked up 3.6m (10.4% of the shares after the cancellation of the bought in shares) and now holds 9.2m (26.8%) and chairman Richard King has bought 0.7m (2%) and now holds 4.5m (12.1%). The remaining few shares have been bought by the pension scheme. All the trades were at 30.15p.Directors now account for over 50% of the shares with those held in treasury almost 12%. ...

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With small companies there is an above average degree of risk compared to buying blue chips. Please be aware that we have not assessed the suitability of any of these investments for you. The newsletter simply states a personal view and diarises the editor’s investment decisions. Please speak to your stockbroker or other qualified individual to ascertain whether any of these companies mentioned would form useful additions to your own portfolios. Past performance is no indication of future success.

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