Chairman's wife buys Redrow shares

2nd Mar 2010 16:33

Redrow chairman Steve Morgan's wife has bought 100,000 shares in the housebuilder taking their combined stake to 29.95%. Fiona Morgan paid 131.5p a share for the 100,000 shares. The total cost was £131,500. Morgan founded Redrow in 1974 and floated the company 20 years later. He also owns Wolverhampton Wanderers Football Club, whose squad includes former Gillingham FC winger Matt Jarvis. Last week, Redrow reported a 25% increase in interim revenues to £187.2m. The reported loss fell by 81% to £8.7m in the six months to December 2009. Last autumn, Redrow raised £150m from a 13-for-14 rights issue at 105p a share. Net debt was £49.3m at the end of 2009. The net asset value is 141p a share. Redrow says it has the appropriate capital structure in place but the market remains fragile. Top Director BuysRedrow (RDW) Director name: Mr Steve MorganAmount purchased: 100,000 @ 131.50p Value: £131,500Informa (INF) Director name: Mr Adam WalkerAmount purchased: 22,000 @ 350.89p Value: £77,196WSP Group (WSH) Director name: Mr Peter R GillAmount purchased: 24,833 @ 279.78p Value: £69,478Education Development International (EDD) Director name: Mr Richard PriceAmount purchased: 50,000 @ 136.00p Value: £68,000Absolute Return Trust GBP Shares (ABR) Director name: Mr Robin RumbollAmount purchased: 25,000 @ 119.00p Value: £29,750e-Therapeutics (ETX) Director name: Mr John CordinerAmount purchased: 67,376 @ 40.50p Value: £27,287Goals Soccer Centres (GOAL) Director name: Mr Graham WilsonAmount purchased: 10,000 @ 150.00p Value: £15,000RM Group (RM.) Director name: Mr Rob SirsAmount purchased: 8,194 @ 173.25p Value: £14,196Brewin Dolphin (BRW) Director name: Mr Jamie MathesonAmount purchased: 11,379 @ 121.00p Value: £13,769Brit Insurance Holdings NV (BRE) Director name: Mr Kenneth CulleyAmount purchased: 1,647 @ 739.13p Value: £12,173Top Director SellsDiageo (DGE) Director name: Mr Paul S WalshAmount sold: 99,000 @ 1,088.00p Value: £1,077,120Rio Tinto (RIO) Director name: Mr Guy R ElliottAmount sold: 19,495 @ 3,460.00p Value: £674,527Intercede Group (IGP) Director name: Mr Richard Arthur ParrisAmount sold: 1,000,000 @ 42.50p Value: £425,000Carnival (CCL) Director name: Mr Peter RatcliffeAmount sold: 11,465 @ 2,262.58p Value: £259,405Education Development International (EDD) Director name: Sir Bryan NicholsonAmount sold: 250,000 @ 136.00p Value: £340,000RSA Insurance Group (RSA) Director name: Mr George CulmerAmount sold: 211,883 @ 128.07p Value: £271,359Rathbone Brothers (RAT) Director name: Mr Richard P LanyonAmount sold: 20,000 @ 825.00p Value: £165,000Bunzl (BNZL) Director name: Mr Patrick LarmonAmount sold: 23,504 @ 691.11p Value: £162,438Bunzl (BNZL) Director name: Mr Brian MayAmount sold: 20,542 @ 691.11p Value: £141,968Centrica (CNA) Director name: Mr Mark HanafinAmount sold: 41,657 @ 282.30p Value: £117,598