Action Hotels chairman Al-Sabah buys shares from director

Action Hotels founder and chairman, Mubarak Al-Sabah, purchased 1.5m shares in the Middle East and Australian hotel operator at 48p each from development director Rawaf Bourisli.

Following the deal, Al-Sabah has 97m shares, or a 65.74% stake in the company, while Bourisli now has a 0.77% stake.

Elsewhere, Adrian Collins, a non-executive at City Natural Resources High Yield Trust, picked up some shares in the company this week.

He bought 25,000 shares at 67.25p each, bringing his total holding to 100,000.

Back in December, Action Hotels agreed a joint venture with Action Group Holdings to buy a leasehold interest in a building in Ras Al Khaimah in the UAE from Action Real Estate Co.

The company said at the time the deal would have a positive impact on its income statement and balance sheet. Return on equity and cash on cash returns are expected to be significantly higher at 13.2% and 10.6% respectively at year three of operations.

Top Director Buys

Action Hotels (AHCG)

Director name: Sheikh Mubarak A M Al-Sabah

Amount purchased: 1,476,662 @ 48.00p

Value: £708,798

7Digital Group (7DIG)

Director name: Sir Donald Cruickshank

Amount purchased: 653,000 @ 6.12p

Value: £39,964

City Natural Resources High Yield Trust (CYN)

Director name: Mr Adrian John Reginald Collins

Amount purchased: 25,000 @ 67.25p

Value: £16,812

Top Director Sells

Action Hotels (AHCG)

Director name: Mr Rawaf Bourisli

Amount sold: 1,476,662 @ 48.00p

Value: £708,798

Rotala (ROL)

Director name: Mr John Gunn

Amount sold: 120,000 @ 75.50p

Value: £90,600

Rotala (ROL)

Director name: Mr Frank Geoffrey Flight

Amount sold: 80,000 @ 75.00p

Value: £60,000