Promethean non-exec buys at discount to float
02 Sep 2010
Non-executive director Philip Rowley has invested £31,000 in interactive whiteboards supplier Promethean World.
Rowley bought 24,838 shares at 124.7p a share, taking his stake to 157,606 shares.
Promethean World floated in March 2010 at 200p a share. The share price has been in decline since June. The interim figures in August have sparked a mini-rally in the shares so they have risen from their low of 119p.
Promethean World's interims were positive. The Blackburn-based firm said pre-tax profit rose from £2.1m to £9.2m for the six months to June 2010. Revenue increased 35% to £122.4m. The main market is North America but demand for Promethean World's products is increasing in the rest of the world as well. At the moment, 7% of classrooms have interactive whiteboards.
Investec set a price target of 222p at the time of the interims.
Top Director Buys
Promethean World (PRW)
Director name: Mr Philip Rowley
Amount purchased: 24,838 @ 124.70p
Value: £30,973
Aer Lingus Group (AERL)
Director name: Mr Andrew Macfarlane
Amount purchased: 25,000 @ € 0.92
Value: € 23,000
Bioquell (BQE)
Director name: Mr Simon Constantine
Amount purchased: 14,000 @ 115.00p
Value: £16,100
Rank Group (RNK)
Director name: Mr Peter W Johnson
Amount purchased: 8,926 @ 113.37p
Value: £10,119
Top Director Sells
Pennon Group (PNN)
Director name: Mr Christopher Loughlin
Amount sold: 19,023 @ 570.37p
Value: £108,501
Pennon Group (PNN)
Director name: Mr C I J H Drummond
Amount sold: 16,684 @ 570.37p
Value: £95,161
Pennon Group (PNN)
Director name: Mr D J Dupont
Amount sold: 16,684 @ 570.37p
Value: £95,161
Pennon Group (PNN)
Director name: Mr Ken Woodier
Amount sold: 9,510 @ 570.37p
Value: £54,242
