News

Bosses at Serica Energy bought into the oil and gas explorer today, led by chief executive Paul Ellis, who took 200,000 shares at 53p a time.

He was joined by chairman Antony Walker, who bought 100,000 shares at 49p a time and finance director Chris Hearne, who took 35,000 shares, also for 49p each. Two non-executive directors and the wife of one bought smaller stakes.

News of the purchases came as Serica Energy rejected an all-share bid approach from Salamander Energy worth around 70p a share, or £124m.

Salamander admitted today it had made a written merger proposal to Serica on Friday, outlining its plan, which would Serica shareholders receive one Salamnder share for every three Serica shares held.

Serica operates in the UK, Norway, Spain, Ireland, Indonesia and Vietnam.

Its share price has fallen slightly since Ellis last bought in, taking 200,000 shares at 69p a go last month.
Top Director Buys

Serica Energy (SQZ)
Director name: Mr Paul William Ellis
Amount purchased: 200,000 @ 53.00p
Value: £106,000

Gulf Keystone Petroleum (GKP)
Director name: Mr Lord Truscott
Amount purchased: 500,000 @ 20.80p
Value: £104,000

Serica Energy (SQZ)
Director name: Mr Antony Craven Walker
Amount purchased: 100,000 @ 49.00p
Value: £49,000

Bodycote International (BOY)
Director name: Dr Rajagopal (Raj) Krishnamurthy
Amount purchased: 20,000 @ 167.40p
Value: £33,480

Jubilee Platinum (JLP)
Director name: Mr Malcolm Burne
Amount purchased: 100,000 @ 27.00p
Value: £27,000

Serica Energy (SQZ)
Director name: Mr Neil Pike
Amount purchased: 55,000 @ 49.00p
Value: £26,950

Serica Energy (SQZ)
Director name: Mr Ian Vann
Amount purchased: 55,000 @ 49.00p
Value: £26,950

Camco International (CAO)
Director name: Mr David R W Potter
Amount purchased: 46,400 @ 54.00p
Value: £25,056

Carpathian (CPT)
Director name: Mr Rupert Cottrell
Amount purchased: 70,000 @ 33.50p
Value: £23,450

Communisis (CMS)
Director name: Mr Alistair Blaxill
Amount purchased: 36,826 @ 54.00p
Value: £19,886