3i director invests in 100,000 shares

30th May 2012 16:15

A Non-Executive Director of 3i, a private equity, infrastructure and debt management group, has taken advantage of the company's declining share price to buy up 100,000 shares. Willem Mesdag, who joined the firm in 2007, bought the shares at 175p a pop for a total of £175,000. Two weeks ago the company more than doubled its full-year dividend to 8.1p despite seeing returns and assets under management (AUM) slip during the year to March 31st. Total AUM dropped from £12.7bn to £10.5bn during what the company described as a "challenging" year which saw the performance in Private Equity being offset by a continued drag on returns from pre-credit crisis investments and the value of its largest Asia asset, reinsurance business ACR, affected by natural disasters. The company has appointed Simon Burrows, formerly the Chief Investment Officer, as its new Chief Executive Officer with immediate effect, following the announcement of Michael Queen's departure at the end of March. Top Director Buys3i Group (III) Director name: Mr Willem MesdagAmount purchased: 100,000 @ 175.00p Value: £175,000F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 122,965 @ 71.65p Value: £88,104Ocean Wilsons Holdings Ltd. (OCN) Director name: Mr Chris Townsend Amount purchased: 2,500 @ 1,050.00p Value: £26,250CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 1,804 @ 600.00p Value: £10,824Conygar Investment Company (CIC) Director name: Mr Nigel J HamwayAmount purchased: 11,741 @ 88.00p Value: £10,332Top Director SellsBG Group (BG.) Director name: Mr Frank ChapmanAmount sold: 368,185 @ 1,285.00p Value: £4,731,177Restaurant Group (RTN) Director name: Mr Andrew PageAmount sold: 841,665 @ 283.20p Value: £2,383,595Restaurant Group (RTN) Director name: Ms Trish CorzineAmount sold: 308,249 @ 281.30p Value: £867,104Restaurant Group (RTN) Director name: Mr Stephen CritophAmount sold: 300,000 @ 283.20p Value: £849,600