Telecom Plus chairman raises stake following SSE's cut in gas prices

The chairman and two directors in Telecom Plus bought new shares in order to show confidence in the business on the same day it was hit by cuts in gas prices by rival SSE.

Charles Wigoder, who has been chairman in the gas, electricity and mobile services group for 27 years, purchased 25,000 shares at an individual price of 985p, spending a total of £246,250. He now holds 16.026m shares.

Other two directors, Julian Schild and Melvin Lawson, also bought 25,000 each for the same price. Schild holds now 158,682 shares and Lawson currently has 2.089m shares in Telecom.

The company was one of the top fallers on Monday with shares down by 5.2% following news that energy supplier SSE will cut by 4.1% its gas prices from 30 April. Gas prices will be capped at their new level, and household electricity prices at their existing level, until at least July 2016.

Top Director Buys

Telecom Plus (TEP)
Director name: Mr Melvin Lawson
Amount purchased: 25,000 @ 985.00p
Value: £246,250

Telecom Plus (TEP)
Director name: Mr Julian Schild
Amount purchased: 25,000 @ 985.00p
Value: £246,250

Telecom Plus (TEP)
Director name: Mr Julian Schild
Amount purchased: 25,000 @ 985.00p
Value: £246,250

Telecom Plus (TEP)
Director name: Mr Charles Wigoder
Amount purchased: 25,000 @ 985.00p
Value: £246,250

Lamprell (LAM)
Director name: Mr John Kennedy
Amount purchased: 185,618 @ 106.80p
Value: £198,240

Lamprell (LAM)
Director name: Mr John Kennedy
Amount purchased: 55,291 @ 107.44p
Value: £59,405

Intercede Group (IGP)
Director name: Mr Ian Ashley Drew
Amount purchased: 26,000 @ 114.00p
Value: £29,640

Intercede Group (IGP)
Director name: Mr Ian Ashley Drew
Amount purchased: 26,000 @ 114.00p
Value: £29,640

FirstGroup (FGP)
Director name: Mr John McFarlane
Amount purchased: 10,550 @ 107.80p
Value: £11,373

Premier Foods (PFD)
Director name: Mr Charles Miller Smith
Amount purchased: 25,000 @ 40.00p
Value: £10,000

Top Director Sells

Experian (EXPN)
Director name: Mr Brian Cassin
Amount sold: 8,630 @ 1,156.93p
Value: £99,843