AFC Energy non-exec buys shares from major investor

29th Apr 2013 15:37

AFC Energy has announced that one of its Non-Executive Directors has purchased 9.51m ordinary shares in the company at 26p each. Eugene Shvidler bought the shares, worth a total of £2.47m, from Ervington Investments, which reduced its stake in the group to 24.1m, equivalent to 10.88% of AFC's issued share capital. Shvidler, whose stake now stands at 12m shares, has agreed to a lock-in of the shares for a period of 12 months. The purchase was made on Monday, the same day the firm said it had extended the longevity of its electrodes to more than nine months of continuous operation. The development brings the company's fuel cell power generation technology closer to achieving full commerciality and potentially gaining lucrative opportunities with industrial partners, the firm said. Top Director BuysHummingbird Resources (HUM) Director name: Mr Stephen BettsAmount purchased: 134,400 @ 37.00p Value: £49,728Persimmon (PSN) Director name: Ms Marion SearsAmount purchased: 4,177 @ 1,075.00p Value: £44,903Bankers Inv Trust (BNKR) Director name: Ms Susan InglisAmount purchased: 5,000 @ 533.12p Value: £26,656London Mining (LOND) Director name: Dr Colin KnightAmount purchased: 20,000 @ 114.00p Value: £22,800Top Director SellsSafestore Holdings (SAFE) Director name: Mr Frederic VecchioliAmount sold: 1,151,331 @ 129.28p Value: £1,488,441