Senior independent director shows faith in battered Morgan Crucible
Mon 15 Oct 2012
LONDON (SHARECAST) - There is nothing like a profit warning to induce a director purchase, and Monday saw an almost classic example relating to Morgan Crucible.
On Friday the shares plummeted after the industrial materials provider warned trading conditions have deteriorated across most geographies, particularly in Europe and China.
The shares were down again on Monday, despite senior independent director Martin Flower putting his hand in his pocket and buying 10,000 shares at 222.54p each, raising his holding to 25,000 shares, or 0.0089% of the issued share capital.
Top Director Buys
Petroceltic International (PCI)
Director name: Mr Brian O'Cathain
Amount purchased: 500,000 @ 7.05p
Morgan Crucible Co (MGCR)
Director name: Mr Martin C Flower
Amount purchased: 10,000 @ 222.54p
Environmental Recycling Technologies (ENRT)
Director name: Mr David Charles Shepley-Cuthbert
Amount purchased: 500,000 @ 2.13p
Top Director Sells
Wood Group (John) (WG.)
Director name: Mr Mike Straughen
Amount sold: 50,000 @ 844.50p