Director dealing: Cyan looks to India for growth

SMART metering group Cyan Holdings recently announced it had narrowed operating losses despite a fall in revenues.

Executive chairman John Cronin said the company was well positioned for expansion in the fast-growing markets its products are aimed at.

He said the company had secured a number of partnerships in India which gave it first-mover advantage for deploying pilot schemes throughout the country.

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Shares in the Cambridge-based company are up about 30 per cent on a year ago, but two non-executive directors still appear to believe they offer good value and last week upped their holdings.

John Read bought a million shares at 0.6p to take his stake to just under 26 million shares.

Simon Smith purchased two million shares at the same price and now holds 24 million.

• David Lenigas, executive chairman at investment company AfriAg, has bought 500,000 shares at 0.9p each.

He now holds 106 million shares, representing 12.9 per cent of the company.

• Specialist environmental support services group Silverdell said non-executive director John Matthews acquired 150,000 shares at 14.74p each.

It was his first purchase of shares in the group.

• Orange grower Asian Citrus said director Sung Chi Keung has sold 379,000 shares at an average price of 25.59p. He now holds 141,000 ordinary shares.

• Mike Daly, executive vice president of BP’s exploration division, sold 110,000 shares at 477p each.

• Two directors at formalwear group Moss Bros have increased their holdings.

Maurice Helfgott bought 270,000 shares at 57.5p to increase his stake to 350,000 shares.

Zoe Morgan purchased 10,543 shares at 56.5p and a further 8,798 shares at a price of 56.4p each. Her husband also purchased 8,790, and together the couple now hold 47,775 shares.

Last week the company reported a pick-up in trading following a “difficult” start to the year.

It said like-for-like sales in the 18 weeks to 1 June were 0.3 per cent higher than a year ago, despite a 6.2 per cent decline in suit hire revenues.