Coms chiefs buying by the millions

By Perry Gourley
Published on 17/02/2013 00:00

INTERNET telephony service provider Coms recently announced it had secured a contract with Vonage UK to provide phone services to UK small businesses.

The deal will enable Vonage to sell telephone services to companies with up to ten extensions or lines.

Coms said the deal provides an opportunity for both companies to broaden their market reach.

Last week two Coms directors toasted the deal by going into the market to up their stakes.

Chief executive Dave Breith bought 7.96 million shares at 0.75p per share to take his holding up to 89.66 million.

Andrew Branson, chief financial officer, bought 3.33 million shares at the same price and now has 4.077 million.

Breith’s purchase is the second he has made since December.

Breith, who recently took over as chief executive, said: “I am keen to continue investing in Coms and remain supremely confident of its potential.”

• Zafar Karim, a director of Legendary Investments, has bought ten million shares at an average price of 0.1p each. He now holds 33 million shares and 106 million options in the company

Last week Legendary said one of its investee companies, Medgold Resources, had secured an exclusive option on two highly prospective Portuguese exploration licences.

• Andrew Gould, the chairman of oil and gas group BG Group, has bought 35,000 shares at 1,120p to take his stake to 65,000 shares.