Date: Thursday 17 Jun 2010
Jeffrey Meyer, the chief executive of investment manager Gartmore Group has invested nearly £349,000 in the company's shares.Meyer acquired 300,000 shares at 116.23p each. Gartmore floated last December at a placing price of 220p a share. At that time, Meyer raised £956,000 from selling 434,699 shares at the placing price.
Meyer owns nearly 4m shares in Gartmore, equivalent to 1.26% of the share capital.
A number of other Gartmore directors also added to their holdings. The most noteworthy were finance director Keith Starling, who bought nearly £50,000 worth of shares, and independent non-executive director David Lindsell, who spent nearly £35,000 on increasing his stake.
The Financial Services Authority (FSA) is investigating the conduct of Guillaume Rambourg, one of Gartmore’s star money managers, who was the subject of an internal investigation by Gartmore in April.
Gartmore had £22.4bn under management at the end of April but there was an outflow of £380m on 4 May.
Top Director Buys
Gartmore Group (GRT)
Director name: Mr Jeffrey Meyer
Amount purchased: 300,000 @ 116.23p
Value: £348,690
Edinburgh Worldwide Inv Trust (EWI)
Director name: Mr David A Coltman
Amount purchased: 60,000 @ 255.00p
Value: £153,000
BTG (BGC)
Director name: Ms Louise Makin
Amount purchased: 55,149 @ 186.95p
Value: £103,101
Lonmin (LMI)
Director name: Mr Jonathan Leslie
Amount purchased: 4,900 @ 1,625.00p
Value: £79,625
Gartmore Group (GRT)
Director name: Mr Keith Starling
Amount purchased: 42,675 @ 116.23p
Value: £49,601
Gartmore Group (GRT)
Director name: Mr David Lindsell
Amount purchased: 30,000 @ 116.23p
Value: £34,869
XP Power (XPP)
Director name: Mr Andy Sng
Amount purchased: 6,000 @ 577.00p
Value: £34,620
Top Director Sells
BTG (BGC)
Director name: Ms Louise Makin
Amount sold: 145,945 @ 188.45p
Value: £275,033
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