CLS founder buys shares

21st Sep 2010 16:54

Sten Mortstedt, the executive chairman of CLS Holdings, has increased his stake in the property investor through his family and charity trust.The purchase of 10,000 shares at 520p each cost £52,000 and took Mortstedt's stake to 53.14%. This purchase follows last week's tender offer at 625p a share when the trust sold 360,053 shares thereby raising £2.25m. The company spent £4m on the tender offer. CLS favours tenders over dividend distributions. Underlying net assets per share were 768.4p at the end of June 2010. Interim profits climbed to £28.1m from £13.2m over the same period the previous year.Mortstedt is from Sweden but he is a resident of Switzerland. He established CLS in 1987 and floated it in London in 1994.Top Director BuysCLS Holdings (CLI) Director name: Mr Sten MortstedtAmount purchased: 10,000 @ 520.00p Value: £52,000Frenkel Topping (FEN) Director name: Mr David R SouthworthAmount purchased: 250,000 @ 5.00p Value: £12,500Top Director SellsGeneral Electric (GEC) Director name: Mr Keith S. SherinAmount sold: 14,547 @ € 12.40 Value: € 180,314General Electric (GEC) Director name: Mr John G. RiceAmount sold: 14,427 @ € 12.40 Value: € 178,827General Electric (GEC) Director name: Mr Michael A. NealAmount sold: 11,454 @ € 12.40 Value: € 141,976General Electric (GEC) Director name: Mr Pamela DaleyAmount sold: 3,194 @ € 19.37 Value: € 61,854Aberdeen Asian Smaller Companies Inv Trust (AAS) Director name: Mr Alan KempAmount sold: 7,500 @ 603.50p Value: £45,262General Electric (GEC) Director name: Ms Kathryn CassidyAmount sold: 1,146 @ € 12.40 Value: € 14,205