Cambian Group chief tries to reignite confidence in company

9th Nov 2015 14:50

(ShareCast News) - Cambian Group's chief executive officer is doing his bit to give investors confidence in the company.The value of the shares has dropped over 45% since the company issued a trading update on 22 October.The behavioural health services company said it believes that underlying EBITDA for the year to 31 December will be no less than £54m, representing growth of 7.5% from last year, and adjusted EBITDA for the year will be no less than £49m compared to £48.4m in 2014.The new forecasts were due to a significant increase in organic investment in new places, with the company looking to spend £50m in capital expenditure in the year.However that resulted in increased development losses as well as the impact of staff vacancies which has reduced the number of admissions in the group's Schools and Children's Services.But chief executive Saleem Asaria is trying to show investors he can turn things around, by stumping up just under £0.2m to buy 130,000 shares.At 1453 GMT, the shares were down 0.25p (0.17%) to 148p per share.Top Director BuysCambian Group (CMBN) Director name: Mr Saleem AsariaAmount purchased: 130,000 @ 151.96p Value: £197,548International Personal Finance (IPF) Director name: Mr Anthony (Tony) J HalesAmount purchased: 25,000 @ 379.86p Value: £94,965International Personal Finance (IPF) Director name: Mr Anthony (Tony) J HalesAmount purchased: 25,000 @ 379.86p Value: £94,965Safestyle UK (SFE) Director name: Mr Stephen John BirminghamAmount purchased: 40,000 @ 218.20p Value: £87,280International Personal Finance (IPF) Director name: Ms Jayne AlmondAmount purchased: 20,000 @ 379.00p Value: £75,800SQN Asset Finance Income Fund Limited C SHS NPV (SQNC) Director name: Mr Peter NivenAmount purchased: 20,000 @ 100.00p Value: £20,000SQN Asset Finance Income Fund Limited C SHS NPV (SQNC) Director name: Mrs Carol P GoodwinAmount purchased: 15,000 @ 100.00p Value: £15,000SQN Asset Finance Income Fund Limited C SHS NPV (SQNC) Director name: Mr Christopher SpencerAmount purchased: 10,000 @ 100.00p Value: £10,000Top Director SellsInternational Personal Finance (IPF) Director name: Mr David BroadbentAmount sold: 50,000 @ 375.00p Value: £187,500