Vehicle tracking firm on road to positive results

Published on Saturday 20 March 2010 12:43

DIRECTOR dealing at Aim-listed minnow Trakm8 sparked significant interest on the markets last week. Its shares rose by more than a third after five directors bought more than 2.2 million shares between them in the vehicle tracking company.

The investments saw sizeable increases in the holdings of some of the board members, with finance director James Hedges more than doubling his stake and chairman Dawson Buck buying his first shares in the company.

The 12p paid for each share is more than double the figure they were trading at last year. With final results expected around July, the pre-close period purchases by directors is a strong signal the figures won't disappoint.

&#149 Barry Keepence, chief technology officer at Edinburgh-based IndigoVision, has sold 17,500 shares at 515p each to cut his holding to 6,850 shares.

&#149 Gerhard Fusenig, a non-executive director at Aberdeen Asset Management, has bought his maiden stake.

Fusenig, a senior executive at Credit Suisse Asset Management, bought 100,000 shares at 129p each.

&#149 Mike Cooke, strategic development director at sausage skin manufacturer Devro, has reduced his family's holding in the Moodiesburn-based company. He and his wife sold the shares at 171p each but still retain a stake of 62,318 shares.

&#149 The chief executive and finance director of can manufacturer Rexam have both upped their stakes.

Chief executive Graham Chipchase bought 47,811 shares at 292p each and now holds 164,345 shares.

Finance director David Robbie bought 43,394 shares at the same price to raise his stake to 66,873 shares.

&#149 The chairman and chief executive of plastics group Plantic Technologies have both increased their stakes with the purchase of 200,000 shares each.

Ian Wightwick and Brendan Morris paid 9.2p each for the shares and now hold 270,441 and 458,742 shares respectively.

&#149 Kevin Beeston, outgoing chairman of business services group Serco, has sold the bulk of his holding in the company. He sold 293,900 shares at 594p each.

&#149 Michael Press, a non-executive director of oil services group Petrofac, has sold half his shares in the company ahead of a planned demerger of its oil and gas assets. He disposed of 120,000 shares at 1,173.65p each.