Director Dealings

The offshore sector is one of a number of industrial markets which Corac believes offer huge potential for its patented innovations in areas such as compressed air equipment. Last week the firm revealed full-year revenues more than doubled to 1.34 million last year with losses narrowing to 2.93m. During the year the company raised 5.79m from investors and had year-end cash balances of 5.34m.

Following the announcement, chief executive Phil Cartmell bought his first stake in the company with 100,000 shares at 21.5p each. He also holds options over two million shares.

Chairman Professor Gerry Musgrave, also bought 75,000 shares at a similar price and now holds 1.45 million.

Iain Lanaghan, finance director of Aberdeen-based Faroe Petroleum, has bought 39,290 shares at 125p per share. The move came after the company announced plans for a rights issue to raise 69m to accelerate exploration.

Justin Lewis, chairman of resources company Beacon Hill, bought 200,000 shares at 5.95p to increase his holding to just over 1.7 million shares.

Michael Burt, chairman of electronics group Feedback, has topped up his substantial holding. He bought 100,000 shares at 1.75p followed by a further 100,000 at 2p and now holds more than 16 million shares.

Nick Hewson, chairman of Leuchars-based security business Croma, has bought 100,000 shares at 2p each. He now holds 6.45 million shares.

Sir John Parker, non-executive chairman at mining group Anglo American, has bought 1,726 shares at 2875p. He now owns just under 10,000 shares.

Walker Boyd, newly appointed non-executive director at retailer WH Smith, has made his maiden purchase. He bought 15,000 shares at 506.5p each in the group which recently reported interim profits had edged up despite a drop in sales.

Alexandre Schneiter, a non-executive director at North Sea oil and gas explorer EnQuest, has bought 117,417 shares at 99p. It was his second purchase since EnQuest was demerged from oil services provider Petrofac at the beginning of April.

Professor Tony Kouzarides, a co-founder of antibodies distributor Abcam, has sold part of his substantial stake in the Cambridge-based business. He disposed of 29,000 shares at 1,187p each and retains a holding of 85,244 shares.