Cable and Wireless Comms CEO stocks up

12th Mar 2012 15:33

Tony Rice, the Chief Executive Officer of Cable and Wireless Commnutications, has bought up a chunk of shares in the firm, taking advantage of the stock's ongoing decreased share price. Rice, who last year earned $1.08m in a basic pay, cash bonuses of $466,000, and $2.6m from the firm's five-year LTIP plan, bought 2.5m shares at 32.85p each for a total of £821,250. Shares in the FTSE 250 company have fallen over 36% in the past year, over 10% in the past month and 4.5% in a week. Just one month ago the firm warned on its profits, bringing its revival to an abrupt halt. Speaking at the time, Rice acknowledged the problems, but drew attention to the company's debt position, saying: "Through the refinancing of the bank facilities and the issuing of $400m of bonds, we have raised sufficient financing to meet our expected needs through to 2016." Top Director BuysCable & Wireless Communications (CWC) Director name: Mr William Anthony RiceAmount purchased: 2,500,000 @ 32.85p Value: £821,250CLS Holdings (CLI) Director name: Mr Sten A MortstedtAmount purchased: 30,000 @ 625.50p Value: £187,650Microgen (MCGN) Director name: Mr Peter WhitingAmount purchased: 24,000 @ 145.00p Value: £34,800Top Director SellsJohn Menzies (MNZS) Director name: Mr Paul B DollmanAmount sold: 272,000 @ 575.00p Value: £1,564,000John Menzies (MNZS) Director name: Mr Craig SmythAmount sold: 272,000 @ 575.00p Value: £1,564,000Bunzl (BNZL) Director name: Mr Brian MayAmount sold: 157,201 @ 991.00p Value: £1,557,862John Menzies (MNZS) Director name: Mr David McIntoshAmount sold: 209,387 @ 575.00p Value: £1,203,975Rolls-Royce Holdings (RR.) Director name: Mr John RishtonAmount sold: 103,828 @ 827.50p Value: £859,177Galliford Try (GFRD) Director name: Mr Greg FitzgeraldAmount sold: 134,407 @ 602.00p Value: £809,130Bunzl (BNZL) Director name: Mr Paul Nicholas HusseyAmount sold: 61,500 @ 990.25p Value: £609,004John Menzies (MNZS) Director name: Mr Paul B DollmanAmount sold: 100,000 @ 575.00p Value: £575,000Galliford Try (GFRD) Director name: Mr Frank NelsonAmount sold: 88,284 @ 602.00p Value: £531,470Galliford Try (GFRD) Director name: Mr Ken GillespieAmount sold: 87,718 @ 602.00p Value: £528,062NR