Director dealings: Menzies director ups stake

John Menzies non-executive director Philipp Joeinig acquired 49,695 ordinary shares in the aviation and distribution services business on Friday.

Joenig, who was appointed to the board back in 2017, purchased the shares at an average cost of 555p each, for a total value of £275,807.26.

Early in the year, Menzies said it was not expecting any material impact on its underlying effective tax rate for 2018 onwards.

The London-listed firm said that was because historically, its effective tax rate on US profits had been reduced by the offset of net operating losses brought forward and the recognition of a deferred tax asset in relation to net operating losses carried forward.

Its board said it was continuing to consider the impact the full US tax reform would have on the group; however its current expectation was that - as those net operating losses were utilised - the reduction in US tax rates should allow the group to maintain the underlying effective tax rate at or around 28% going forward.

As of 1600 BST, Menzies shares had slipped 0.54% to 548p.

Top Director Buys

Menzies(john) (MNZS)
Director name: Joeinig,Philipp
Amount purchased: 49,695 @ 555.00p
Value: £275,807.26

Time Out Group (TMO)
Director name: Daiches Dubens,Peter Adam
Amount purchased: 300,302 @ 83.00p
Value: £249,250.65

Cropper (james) (CRPR)
Director name: Cropper,Mark A J
Amount purchased: 7,113 @ 1,285.00p
Value: £91,402.05

Griffin Mining Ltd. (GFM)
Director name: Usdan ,Adam
Amount purchased: 50,000 @ 86.00p
Value: £43,000.00

Shoe Zone (SHOE)
Director name: Sharman ,Jeremy
Amount purchased: 24,000 @ 165.15p
Value: £39,636.00

Touchstar (TST)
Director name: Martin,Ian Paul
Amount purchased: 35,000 @ 44.70p
Value: £15,645.00

Aviva (AV.)
Director name: Cross,Patricia
Amount purchased: 2,901 @ 497.41p
Value: £14,429.87

Odyssean Investment Trust (OIT)
Director name: Tufnell ,Jane
Amount purchased: 4,748 @ 103.68p
Value: £4,922.73

Itv (ITV)
Director name: Harris,Mary
Amount purchased: 2,727 @ 157.19p
Value: £4,286.57

Aviva (AV.)
Director name: Garcia,Belen Romana
Amount purchased: 846 @ 497.41p
Value: £4,208.09

Directa Plus (DCTA)
Director name: Ferrari,Marco
Amount purchased: 4,500 @ 63.00p
Value: £2,835.00

Menzies(john) (MNZS)
Director name: Joeinig,Philipp
Amount purchased: 305 @ 553.00p
Value: £1,686.65

Mortgage Advice Bureau (holdings) (MAB1)
Director name: Imlach,Nathan James McLean
Amount purchased: 238 @ 610.00p
Value: £1,451.80

Nuformix (NFX)
Director name: Siderman-Wolte,Kirk
Amount purchased: 35,364 @ 2.60p
Value: £919.46

Record (REC)
Director name: Cullen,Steve
Amount purchased: 551 @ 40.90p
Value: £225.36

3i Group (III)
Director name: Wilson,Julia
Amount purchased: 16 @ 956.87p
Value: £153.10

3i Group (III)
Director name: Dunn,Kevin
Amount purchased: 16 @ 956.87p
Value: £153.10

Top Director Sells

Barr (a.g.) (BAG)
Director name: Memmott,Andrew Lewis
Amount sold: 6,976 @ 720.36p
Value: £50,252.36

Shoe Zone (SHOE)
Director name: Sharman ,Jeremy
Amount sold: 24,000 @ 165.00p
Value: £39,600.00

Greencoat Uk Wind (UKW)
Director name: Badger,Dan
Amount sold: 13,415 @ 128.00p
Value: £17,171.20