DIRECTOR DEALINGS: Mitie CEO and Norcros chair buy after results
The following is a round-up of share dealings by London-listed company directors and managers announced this week and not separately reported by Alliance News:
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AVI Japan Opportunity Trust PLC - invests in ’over-capitalised’ small-cap Japanese equities - The fund’s investment manager, Asset Value Investors Ltd, sells 1 million shares, a 0.7% stake. The company doesn’t provide the sale price. The stock currently is trading at 166.00p in London, making the sale worth £1.7 million. The shares sold represent just under half of AVI’s shareholding prior to the sale. AVI continues to hold 1.1 million shares in AVI Japan Opportunity, and its employees collectively hold a further 1.1 million shares. AVI invests 25% of its management fee each year in shares of the trust.
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Mitie Group PLC - London-based engineering, security, cleaning and hygiene services provider - Chief Executive Officer Phil Bentley buys 195,000 shares at 154.34 pence, worth £300,961, on Thursday. The purchase follows the release of Mitie’s half-year results on Thursday. Mitie raised its interim dividend by 7.7% to 1.4p from 1.3p, despite pretax profit falling 12% to £49.8 million in the six months to the end of September from £56.8 million a year before.
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Greencore Group PLC - Dublin-based convenience food maker - Non-Executive Chair Leslie Van de Walle and associate Domitille Van de Walle buy 40,000 shares at £2.36, worth £94,480, on Wednesday.
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Norcros PLC - Wilmslow, Cheshire-based supplier of bathroom and kitchen products - Chair Steve Good buys 20,000 shares at 304p, worth £60,800, on Thursday. Good now holds 80,000 shares. Norcros on Thursday said it swung to pretax profit of £11.1 million in the 27 weeks ended October 5 from £11.0 million loss the year prior. The company raised its interim dividend by 5.7% to 3.7p from 3.5p.
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