Director Dealings

BIOTECH group Proximagen, which focuses on diseases of the central nervous system, has seen its shares rise by more than a third over the past year.

First half results from the company saw sales grow strongly although losses rose as it more than doubled investment in research and development.

Last year, the company raised 50 million from institutional investors leaving it with a strong balance sheet to pursue opportunities in the sector. Despite the rise in the share price, two directors last week decided to buy their first stakes in the company.

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Dr Stevo Knezevic, head of research and development, bought 12,680 shares at 154p each and non-executive Dr Jackie Hunter purchased 6,305 shares at 151.5p each.

• Richard Ambler, managing director of drinks group Blavod Wines and Spirits, has topped up his stake with the purchase of 43,333 shares at 3p each. He now holds 1.74 million shares.

• Michael Burt, chairman of electronics group Feedback, has bought 450,000 shares at 2p each.

• Mike McGoun, chairman of IT group Tikit, has invested heavily to increase his stake in the company.

He bought 497,833 shares at 221p each, at a total cost of more than 1m, and now holds 5 per cent of the company. Tikit recently revealed an increase in half-year sales and profits.

• Jacques Nasser, chairman of mining group BHP Billiton, has bought 40,000 shares at 4,523p.

The company recently announced plans to increase its investment at its iron ore mining operation in western Australia.

• Charles Gregson, a non-executive director at wealth management group St James's Place has bought 8,300 shares at a price of 243.50p each.

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• Andrew Lynch, a non-executive director at Dixons Retail has increased his stake following interim results last week. He bought 100,000 shares at 26.35p each and now holds 181,428 shares.

• John Rennocks, deputy chairman of satellite group Inmarsat, has bought his first shares in the company.

He purchased 14,600 shares at 646.5p. Last month, the company reported strong growth in its aeronautical and leasing services in the third quarter.