Board backing for Vitesse

THE media business behind Growth Company Investor magazine saw its own shares hit a year high last week after directors upped their stakes.

The purchases by Vitesse Media's board members came on the back of the completion of the acquisition of What Investment magazine from Charterhouse Communications.

At the time of the deal Vitesse, which also operates internet-based businesses, said its trading continues to be in line with the statement accompanying its interim results in October and it is on course to reduce losses to around 350,000 for the year.

With final results due in the next few weeks, the purchases on March 13 by directors Peter and Sara Williams (146,150 shares at 27p-32p) and Chris Broadbent (4,000 shares at 28p) could be seen as a sign that the figures won't bring bad news.

• Property website Rightmove has seen its shares rise by more than 50% since December and several directors have taken profits following the ending of a lock-in period on share selling. Managing director Nick McKittrick was the biggest seller, disposing of 479,562 shares at 480p to cut his holding to 900,000 shares.

• Keith Young, a non-executive director at domain name and internet services provider Group NBT, has sold part of his stake. The disposal of 155,000 shares at 2.65 was to meet institutional demand, according to the company. Young still holds 1.8 million shares in the company.

• Robert Graham, vice-chairman of fund manager Amvescap, has sold shares for the second time this year. Graham sold 200,000 shares at 589p following the sale of the same amount in February. He still holds 24.2 million shares in the group.

• Robert Walters, the chief executive of the eponymous recruitment company, has disposed of two million shares in two separate sales at prices ranging from 339p-346p.

• Ian Stewart, chief executive of support services firm Mitie, has sold a quarter of his stake in the group. Stewart sold one million shares at 242.75p.