Collagen chairman buys shares after sales warning

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

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

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.

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.”