Land Securities director buys first round of shares

26th Jan 2012 14:35

Stacey Rauch, a non-executive director of FTSE 100 property firm Land Securities, has purchased £40,950-worth of shares in the company. Rauch, 53, only joined the board at the start of this month, and the transaction marks her first take up of shares in the firm. The purchase was made on January 24th, the same day as the group's third quarter update, which covers the final three months of 2011, was announced. The results revealed that total property sales in the quarter were £104m at 1.9% below March 2011 valuations and at an average yield of 7.6%. Total investment in the quarter reached £89.1m, including capital expenditure on developments of £51.1m and acquisitions of £11.1m. The acquisitions were at an average yield of 1.4%. On the same day the company also revealed that chief executive officer Francis Salway will be succeeded by Robert Noel, currently Managing Director of the London Portfolio, at the end of March. The company's share price is roughly at the same level it was this time last year, but up more than 11% over the last month. Top Director BuysPacific Alliance Asia Opportunity Fund Ltd. (PAX) Director name: Mr Christopher M GradelAmount purchased: 151,000 @ $1.15 Value: $173,650Stobart Group Ltd. (STOB) Director name: Mr David Milton Maxwell Beever Amount purchased: 41,061 @ 121.77p Value: £50,000Land Securities Group (LAND) Director name: Ms Stacey RauchAmount purchased: 6,000 @ 682.50p Value: £40,950Sanderson Group (SND) Director name: Mr David GutteridgeAmount purchased: 100,000 @ 35.00p Value: £35,000Pivot Entertainment Group (PVT) Director name: Mr David Stoller Amount purchased: 150,000 @ 16.50p Value: £24,750Sanderson Group (SND) Director name: Mr Philip KellyAmount purchased: 30,000 @ 34.50p Value: £10,350Top Director SellsXP Power Ltd. (DI) (XPP) Director name: Mr David Hempleman AdamsAmount sold: 1,725 @ 1,038.85p Value: £17,920