Friday August 8, 12:02 PM
Johnson Matthey chairman buys into dip
LONDON (ShareCast) - Johnson Matthey (LSE: JMAT.L - news) chairman Sir John Banham took advantage of a recent dip in the speciality
chemicals company's value to nearly double his stake with the purchase of around £120,000 worth of shares. He bought 7,400 shares at 1,604p a go for his Self-Invested Personal Pension (SIPP) and now has 15,400 shares in the company. Johnson Matthey shares have fallen sharply in the past couple of months, in line with lower platinum prices. Most of the company's revenues come from its precious metal division, whose main activity is platinum refining. The platinum price reached a record $2,301.50 on the spot market in March, after power cuts hit production at mines in South Africa, which accounts for more than 80% of global production. The price has since eased to levels below $1,600 an ounce, largely due to concerns over demand for use of the precious metal in catalytic converters for cars particularly in the US. The car industry accounts for around 60% of global platinum demand. Last month, Johnson Matthey said it has made a strong start to the new financial year and expects half year pre-tax profit to be well ahead of the same period last year. Sir John, who joined Johnson Matthey in January 2006, was previously the controller of the public spending watchdog the Audit Commission and the director general of the Confederation of British Industry.
Top Director Buys General Electric (NYSE: GE - news) (GEC)
Director name: Mr John G. Rice
Amount purchased: 120,000 @ € 17.14
Value: € 2,057,160 General Electric (GEC)
Director name: Mr Pamela Daley
Amount purchased: 21,000 @ € 17.14
Value: € 360,003 Johnson Matthey (JMAT)
Director name: Sir Sir John M M Banham
Amount purchased: 7,400 @ 1,604.00p
Value: £118,696 Southern Bear (LSE: STBR.L - news) (STBR)
Director name: Mr Jon Pither
Amount purchased: 2,000,000 @ 2.50p
Value: £50,000 Inchcape (LSE: INCH.L - news) (INCH)
Director name: Mr Andre Lacroix
Amount purchased: 18,825 @ 263.50p
Value: £49,604 Inchcape (INCH)
Director name: Mr Andre Lacroix
Amount purchased: 18,825 @ 263.50p
Value: £49,604 red24 (REDT)
Director name: Mr Simon Richards
Amount purchased: 1,400,000 @ 3.10p
Value: £43,400 Tepnel Life Sciences (LSE: TED.L - news) (TED)
Director name: Mr Alec Craig
Amount purchased: 250,000 @ 10.70p
Value: £26,750 Inchcape (INCH)
Director name: MS Barbara Richmond
Amount purchased: 9,471 @ 264.30p
Value: £25,032 F&C Commercial Property Trust (FCPT)
Director name: Mr John Stephen
Amount purchased: 20,000 @ 74.80p
Value: £14,960
Top Director Sells General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 35,900 @ € 18.65
Value: € 669,711 General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 27,600 @ € 18.66
Value: € 515,055 Chemring Group (LSE: CHG.L - news) (CHG)
Director name: Dr Dr David Price
Amount sold: 29,000 @ 2,300.00p
Value: £667,000 Cadbury (Munich: A0NJP5 - news) (CBRY)
Director name: Mr Robert J Stack
Amount sold: 90,000 @ 600.00p
Value: £540,000 General Electric (GEC)
Director name: Mr Pamela Daley
Amount sold: 18,409 @ € 18.65
Value: € 343,298 General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 18,300 @ € 18.65
Value: € 341,266 General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 16,200 @ € 18.67
Value: € 302,525 General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 7,900 @ € 18.67
Value: € 147,476 General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 5,300 @ € 18.68
Value: € 99,009 General Electric (GEC)
Director name: Mr John G. Rice
Amount sold: 4,216 @ € 18.64
Value: € 78,594
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