Share price rises after Pinnacle boss buys stock

SHARES in Pinnacle Technology jumped nearly 11 per cent yesterday after chief executive Alan Bonner increased his stake in the Stirlingshire-based IT outfit.

Work carried out for the BBC has included Radio 1's Big Weekend concerts  which this year starred Ellie Goulding, pictured. Picture: PA

Bonner snapped up a total of 28,000 shares at 18p each to give him a 7.1 per cent holding in the telecoms firm.

The stock closed up 2p at 20.5p, valuing Pinnacle at about £6 million. In June, Pinnacle warned that pre-tax losses had more than doubled in the six months to 31 March to £1.1m after a “lower level of high-profile event-related activity”.

The company had benefited last year from a string of high-profile contracts with the BBC and other broadcasters to supply services during the Queen’s diamond jubilee celebrations and the Olympic and Paralympic games in London.

Other work carried out for the BBC has included Radio 1’s Big Weekend concerts – which this year starred Ellie Goulding, pictured, Laura Mvula and the Saturdays – along with wildlife series Springwatch and the World Snooker Championship.