Collagen chairman buys shares after sales warning

Collagen Solutions warned its sales would miss forecasts. Picture: Phil Wilkinson

Collagen Solutions warned its sales would miss forecasts. Picture: Phil Wilkinson

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David Evans, the chairman of Collagen Solutions, has acquired one million shares in the Glasgow life sciences firm.

The purchase, at a price of 7.5p each, comes the day after the Aim-quoted company told investors it was set to deliver revenues of about £2.8 million for the year to 31 March – well below previous market expectations of £3.6m.

The firm, which develops collagen components for use in regenerative medicine and medical devices, said it had been hit by lower-than-predicted order volumes, customer delays and cancelled projects.

READ MORE: Collagen Solutions warns of hit from contract delays

Evans, who now has 13,888,730 shares in the business – a stake of 8.1 per cent – said: “As was announced in the recent trading update, I have purchased a further one million shares in Collagen Solutions which re-affirms my commitment to the company and strong belief in the growth potential that the company offers.”

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