C&W Worldwide boss adds to holding

29th Mar 2010 16:31

Chief executive Jim Marsh has been buying shares in Cable & Wireless Worldwide following its demerger from Cable & Wireless Communications last week. He bought 43,500 shares at 94.27p each on Friday and 203,000 at 91.8p each on Monday. The total investment was just over £227,000. Marsh owns 651,559 shares in C&W Worldwide, which offers telecoms services in the UK and the rest of the world. Broker Nomura prefers C&W Worldwide to the smaller C&W Communications. It recommends C&W Worldwide as a buy and has set a target price of 110p a share. Nomura expects the company to benefit from a move from low margin voice products to higher margin data operations. Net debt was minimal following the demerger and C&W Worldwide is not expected to pay tax for the foreseeable future. The company is expected to retain its FTSE100 index status. Top Director BuysCable & Wireless Worldwide (CW.) Director name: Mr Jim MarshAmount purchased: 203,000 @ 91.80p Value: £186,354Umeco (UMC) Director name: Mr Neil JohnsonAmount purchased: 50,000 @ 363.25p Value: £181,625Volex (VLX) Director name: Mr Ray WalshAmount purchased: 40,000 @ 103.00p Value: £41,200Cable & Wireless Worldwide (CW.) Director name: Mr Jim MarshAmount purchased: 43,500 @ 94.27p Value: £41,007Kingfisher (KGF) Director name: Mr Kevin O'ByrneAmount purchased: 17,500 @ 224.21p Value: £39,237Monitise (MONI) Director name: Mr David DeyAmount purchased: 120,932 @ 16.45p Value: £19,905The European Investment Trust (EUT) Director name: Mr Michael MouleAmount purchased: 3,000 @ 555.02p Value: £16,651Wolseley (WOS) Director name: Mr Andrew DuffAmount purchased: 1,000 @ 1,621.78p Value: £16,218W H Ireland (WHI) Director name: Mr Lord MarlandAmount purchased: 25,000 @ 40.00p Value: £10,000Top Director SellsVodafone Group (VOD) Director name: Mr Andrew HalfordAmount sold: 2,662,172 @ 146.80p Value: £3,908,068Vodafone Group (VOD) Director name: Mr Andrew HalfordAmount sold: 479,395 @ 146.88p Value: £704,135Alliance Pharma (APH) Director name: Mr Tony BooleyAmount sold: 489,250 @ 33.25p Value: £162,676Sainsbury (J) (SBRY) Director name: Mr Justin KingAmount sold: 35,324 @ 328.76p Value: £116,131Pearson (PSON) Director name: Ms Marjorie ScardinoAmount sold: 9,616 @ 1,044.00p Value: £100,391Pearson (PSON) Director name: Ms Rona A FairheadAmount sold: 6,757 @ 1,044.00p Value: £70,543Pearson (PSON) Director name: Mr John MakinsonAmount sold: 6,757 @ 1,044.00p Value: £70,543SABMiller (SAB) Director name: Mr Tony van KralingenAmount sold: 3,308 @ 1,957.00p Value: £64,738Kingfisher (KGF) Director name: Mr Ian CheshireAmount sold: 22,359 @ 225.01p Value: £50,310Kingfisher (KGF) Director name: Mr Ian CheshireAmount sold: 19,882 @ 225.01p Value: £44,736