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Director dealings: Augean shares soar after directors up holdings
Jim Meredith, executive chairman of waste management businesses Augean, purchased 1m ordinary shares in the Surrey-based company on Friday, upping his total shareholding in the company's capital to 2.5m shares, or 2.43% of its voting shares.
Meredith, who acquired that shares at a cost of 27.00p per share for a total of £270,000, was not the only director in the company to up his stake on Friday, as two of its non-executive directors increased their shareholdings also.
Roger McDowell, who during his two stints with the group has spent more than eleven years on Augean's board, also picked up 1m shares.
McDowell, who bought the shares through his pension plan at a price of 26.03p per ordinary share, saw his total shareholding increase to 4m ordinary shares - or 3.89% - as a result.
Lastly, North Atlantic Smaller Companies Trust, of which non-executive director Christopher Mills is investment manager, purchased 1,550,000 ordinary shares at a price of 27p each and 1.25m at a price of 26p each, and Oryx, of which he was in a limited liability partnership with, purchased 450,000 shares at 27p and 350,000 shares at 26p.
As a result of the multiple purchases, Mills was interested in 22.2m Augean shares - 21.56% of its entire issued share capital.
As of 1600 GMT, Augean shares had grown 18.49% to 31.40p.
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