News

Severfield boss takes stake after slump

28 January 2008 16:05:00

Shares in structural steel supplier Severfield-Rowen rose after chairman Peter Levine spent almost £1m on shares in the company, taking advantage of a sharp fall in the share price last week following a warning that demand had softened.

He bought 400,000 shares for 248p each, or a total of £992,000, bringing his total holding to 465,680 shares or 0.53% of the company.

Severfield's share price tumbled 40% on Thursday as it cautioned that it had seen demand soften in the early part of 2008.

The company, which supplies steel to projects ranging from new stadiums to retail developments, said growth this year would be "at a somewhat lower level" than its previous expectations.

Peter Levine, a corporate lawyer, was appointed non-executive director and deputy chairman of Severfield in 1993. He became chairman in 1998.

Top Director Buys

Severfield-Rowen (SFR)
Director name: Mr Peter M Levine
Amount purchased: 400,000 @ 248.00p
Value: £992,000

SABMiller (SAB)
Director name: Mr Miles Quintin Morland
Amount purchased: 10,000 @ 1,120.00p
Value: £112,000

Merrill Lynch Greater European (MGE)
Director name: Miss Carol Ferguson
Amount purchased: 21,768 @ 165.00p
Value: £35,917

Morant Wright Japan Income Trust (MWJ)
Director name: Mr Andrew Barker
Amount purchased: 40,000 @ 61.75p
Value: £24,700

INVU (INVU)
Director name: Mr Daniel Goldman
Amount purchased: 97,959 @ 24.50p
Value: £24,000

INVU (INVU)
Director name: Mr Bernard R Fisher
Amount purchased: 97,959 @ 24.50p
Value: £24,000

INVU (INVU)
Director name: Mr Thomas Maxfield
Amount purchased: 97,959 @ 24.50p
Value: £24,000

Rugby Estates (RES)
Director name: Mr John Jackson
Amount purchased: 5,000 @ 396.60p
Value: £19,830

Optos (OPTS)
Director name: Ms Rosalyn S. Wilton
Amount purchased: 12,500 @ 116.66p
Value: £14,582

Hardide (HDD)
Director name: Mr Robert Goddard
Amount purchased: 135,000 @ 8.60p
Value: £11,610
Top Director Sells

Filtronic (FTC)
Director name: Mr Hemant Mardia
Amount sold: 19,353 @ 168.00p
Value: £32,513

INVU (INVU)
Director name: Mr David Morgan
Amount sold: 126,955 @ 24.50p
Value: £31,104

INVU (INVU)
Director name: Mr John Agostini
Amount sold: 83,461 @ 24.50p
Value: £20,448

INVU (INVU)
Director name: Mr Jon Halestrap
Amount sold: 83,461 @ 24.50p
Value: £20,448

All data suppied by Digital Look (15 minute delay)




Risk Warning

There is an extra risk of losing money when shares are bought in some smaller companies including 'Penny Shares'. There is a big difference between the buying price and the selling price of these shares. If they have to be sold immediately, you may get back much less than you paid for them or you may have difficulty in selling them. Past performance is not a reliable indicator of future results. The price may change quickly and it may go down as well as up. You could lose every penny put into a particular share.

The information contained above has been compiled from documented sources which are believed to be reliable but, due to their very nature, are subject to a degree of historical inaccuracy and have not been independently verified and cannot be guaranteed. The pages on this website are provided for information only. City Equities Limited will not accept responsibility for loss incurred by any person or body acting, or refraining from acting, as a result of information and/or opinions given anywhere on this website. Issued by City Equities Limited, Aldermary House, 10-15 Queen Street, London, EC4N 1TY. Registered in England. Registered No. 2742847. Registered Address: Amwell House, 19 Amwell Street, Hoddeson, Herts. EN11 8TS. City Equities Limited is Authorised and regulated by the Financial Services Authority. Registration No. 155051.