Action Hotels chairman Al-Sabah buys shares from director

22nd Jan 2016 15:07

(ShareCast News) - Action Hotels founder and chairman, Mubarak Al-Sabah, purchased 1.5m shares in the Middle East and Australian hotel operator at 48p each from development director Rawaf Bourisli. Following the deal, Al-Sabah has 97m shares, or a 65.74% stake in the company, while Bourisli now has a 0.77% stake.Elsewhere, Adrian Collins, a non-executive at City Natural Resources High Yield Trust, picked up some shares in the company this week.He bought 25,000 shares at 67.25p each, bringing his total holding to 100,000.Back in December, Action Hotels agreed a joint venture with Action Group Holdings to buy a leasehold interest in a building in Ras Al Khaimah in the UAE from Action Real Estate Co.The company said at the time the deal would have a positive impact on its income statement and balance sheet. Return on equity and cash on cash returns are expected to be significantly higher at 13.2% and 10.6% respectively at year three of operations.Top Director Buys Action Hotels (AHCG)Director name: Sheikh Mubarak A M Al-SabahAmount purchased: 1,476,662 @ 48.00pValue: £708,798 7Digital Group (7DIG)Director name: Sir Donald CruickshankAmount purchased: 653,000 @ 6.12pValue: £39,964 City Natural Resources High Yield Trust (CYN)Director name: Mr Adrian John Reginald CollinsAmount purchased: 25,000 @ 67.25pValue: £16,812 Top Director Sells Action Hotels (AHCG)Director name: Mr Rawaf BourisliAmount sold: 1,476,662 @ 48.00pValue: £708,798 Rotala (ROL)Director name: Mr John GunnAmount sold: 120,000 @ 75.50pValue: £90,600 Rotala (ROL)Director name: Mr Frank Geoffrey FlightAmount sold: 80,000 @ 75.00pValue: £60,000