Director dealings: Titanium prospects put boss in buy mode

SHARES in Sierra Rutile, a mining company focused on interests in Sierra Leone, have more than trebled in the past year on the back of strong production figures and bid interest.

Last month it continued to post gains after reporting well received production estimates for 2011 and forecasts for the current year.

The Aim-listed company, one of the African republic’s largest private sector employers and exporters, said production of rutile, a major ore of titanium, is expected to be up 20 per cent in the year ahead.

Hide Ad
Hide Ad

Chairman Jan Castro has gone into the market twice to increase his stake. His purchase last week of 70,000 shares at 41p each added to the 75,000 he bought in December at 33.3p.

He now holds 145,000 shares in the company which has seen its market value increase to almost £240 million in recent days.

• Brendan Nelson, a non-executive director of oil giant BP and a chairman of the firm’s audit committee, has bought 11,040 shares in the company at 449p each.

• A non-executive director at online gaming group Digital Entertainment has increased his holding following the launch of a number of new games in Denmark. Geoff Baldwin bought 100,000 shares at 156.62p each.

• Simon Olswang, a non-executive director at treatment and filtration company Amiad Water Systems, has increased his stake with the purchase of 4,500 shares at 224.5p each. He holds 49,500 shares in the company which last month struck a deal worth £1.85m for part of a water filtration project at one of South Korea’s largest steel factories.

• The wife of Brian May, chief executive of engineering services group Renew Holdings, has bought 100,000 shares at 72p each. The couple own 505,000 shares in the company.

• Marjorie Scardino, chief executive of publishing group Pearson, has lifted her stake with the purchase of 374 American Depository Receipts at a price equivalent to around 1,036p.

• Three directors at technology group Imagination have sold shares for tax planning purposes. Geoff Shingles, Ian Pearson and David Hurst-Brown disposed of a total of 47,000 shares at about 560p each.