Director dealings: LXB Retail's Kitchen sinks more cash into new strategy

22nd Jun 2016 10:50

(ShareCast News) - LXB Retail Properties director Danny Kitchen has made his second purchase of shares this month, splashing out around £41,000.Kitchen, a non-executive director of the company, purchased 60,984 shares in the company at a price of 67p per share.This followed a purchase of 72,660 shares at 64.37p on 8 June and 21,356 at 64.98p on 9 June. Earlier this week, fellow independent director Steve Webb bought 75,661 at 66p. Kitchen, who is chairman of Workspace Group and ex of Heron International and Green Property, dipped into the market as the closed-ended real estate investment company, which is focused on edge-of-town and out-of-town retail assets, provided an update to the market last Wednesday.Shareholders in February voted through a major change in the group's strategy, choosing to no longer invest in new projects and change the whole focus on realising value from the investment portfolio and returning capital as quickly as possible.The company said last week had agreed a number of pre-lets at its Greenwich, Sheppey, Stafford and Rushden Lakes sites.Interim results on 1 June showed net asset value down to 102.18p at 31 March from 103.27p at the end of 2015.Top Director BuysLxb Retail Properties (LXB)Director name: Kitchen,Daniel (Danny) JohnAmount purchased: 60,984 @ 67.00pValue: £40,859.28Chemring Group (CHG)Director name: Forster,Carl-PeterAmount purchased: 20,000 @ 118.69pValue: £23,738.00Reconstruction Capital Ii Ltd. (RC2)Director name: Radoi,MihaiAmount purchased: 100,000 @ € 0.22Value: € 22,000.00Record (REC)Director name: Cullen,SteveAmount purchased: 81,591 @ 26.10pValue: £21,295.25Palace Capital (PCA)Director name: Dove,Anthony C.Amount purchased: 2,000 @ 363.75pValue: £7,275.00Barr (a.g.) (BAG)Director name: Memmott,Andrew LewisAmount purchased: 59 @ 526.84pValue: £310.84Wireless Group (WLG)Director name: Taunton,ScottAmount purchased: 90 @ 166.50pValue: £149.85Wireless Group (WLG)Director name: McKeown,NormanAmount purchased: 90 @ 166.50pValue: £149.85Paypoint (PAY)Director name: Watkin-Rees,TimAmount purchased: 13 @ 988.50pValue: £128.51Paypoint (PAY)Director name: Earle,GeorgeAmount purchased: 13 @ 988.50pValue: £128.51Paypoint (PAY)Director name: Taylor,DominicAmount purchased: 12 @ 988.50pValue: £118.62Top Director SellsBabcock International Group (BAB)Director name: Bethel,Archie Amount purchased: 35,667 @ 997.10pValue: £355,635.65Babcock International Group (BAB)Director name: Martinelli ,Franco Amount purchased: 21,183 @ 997.10pValue: £211,215.69Dragon-ukrainian Properties & Development (DUPD)Director name: Fiala,TomasAmount purchased: 8,000 @ 12.65pValue: £1,012.00Dragon-ukrainian Properties & Development (DUPD)Director name: Fiala,TomasAmount purchased: 4,321 @ 12.57pValue: £542.93