(ShareCast News) - Imperial Innovations' chairman designate took the opportunity to buy shares in the company after they were hit by disappointing news about one of the company's investments.David Newlands, who is set to become non-executive chairman on 1 August, bought his first 100,000 shares at an average price of 421.1p each.Imperial Innovations' shares fell from above 449p to as low as results from a clinical study on Circassia Pharmaceuticals' cat allergy treatment's showed it failed to perform against a placebo.In the study, both treatment regimens and placebo greatly - and equally - reduced subjects' combined allergy symptom and rescue medication use score from baseline."Although these results are disappointing, we continue to be supportive long-term shareholders in Circassia," said Imperial CEO Russ Cummings. "The experienced management team have diversified the business since its IPO in 2014."Also on Tuesday, specialist engineer TP Group rallied after several board members dipped into the market.CEO Phil Cartmell bought 424,000 shares at a price of 3.375p each, CFO Derren Stroud bought 200,000 at close to 3.85p, while executive director Simon Kings bought 150,000 at an average price of 3.46p per share. Top Director BuysImperial Innovations Group (IVO)Director name: Newlands,DavidAmount purchased: 100,000 @ 421.10pValue: £421,100.00Chemring Group (CHG)Director name: Dayan,DanielAmount purchased: 60,500 @ 115.00pValue: £69,575.00Ekf Diagnostics Holdings (EKF)Director name: Mills,Christopher H BAmount purchased: 532,781 @ 11.50pValue: £61,269.82Lxb Retail Properties (LXB)Director name: Webb,Stephen JohnAmount purchased: 75,661 @ 66.00pValue: £49,936.26Uil Limited (di) (UTL)Director name: Samuel,ChristopherAmount purchased: 20,000 @ 117.00pValue: £23,400.00Wolseley (WOS)Director name: Lopez,PilarAmount purchased: 600 @ 3,752.49pValue: £22,514.94Stilo International (STL)Director name: Ashman,DavidAmount purchased: 300,000 @ 5.75pValue: £17,250.00Tp Group (TPG)Director name: Cartmell,PhilipAmount purchased: 424,000 @ 3.38pValue: £14,310.00Uil Limited (di) (UTL)Director name: Shillson,DavidAmount purchased: 8,500 @ 117.00pValue: £9,945.00Sirius Real Estate Ltd. (SRE)Director name: Coombs,Andrew Amount purchased: 16,468 @ € 0.53Value: € 8,728.04Sirius Real Estate Ltd. (SRE)Director name: Marks,Alistair Amount purchased: 16,092 @ € 0.53Value: € 8,528.76Tp Group (TPG)Director name: Kings,Simon J NicholsonAmount purchased: 150,000 @ 3.46pValue: £5,190.00Tp Group (TPG)Director name: Stroud,DerrenAmount purchased: 93,220 @ 3.85pValue: £3,588.97Tp Group (TPG)Director name: Stroud,DerrenAmount purchased: 56,780 @ 3.83pValue: £2,171.83Tp Group (TPG)Director name: Stroud,DerrenAmount purchased: 50,000 @ 3.83pValue: £1,912.50Centaur Media (CAU)Director name: Vidler ,AndriaAmount purchased: 320 @ 46.88pValue: £150.02Pennon Group (PNN)Director name: Loughlin,ChristopherAmount purchased: 18 @ 828.50pValue: £149.13Pennon Group (PNN)Director name: Davy ,Susan Amount purchased: 15 @ 828.50pValue: £124.27Top Director SellsBioquell (BQE)Director name: Mills,Christopher Options sale of shares: 6,305,000 @ 200.00pValue: £12,610,000.00Bioquell (BQE)Director name: Roller,Michael R DOptions sale of shares: 962,200 @ 200.00pValue: £1,924,400.00Bioquell (BQE)Director name: Adams,Nicholas M TOptions sale of shares: 513,697 @ 200.00pValue: £1,027,394.00Bioquell (BQE)Director name: Constantine,SimonAmount purchased: 235,000 @ 200.00pValue: £470,000.00Londonmetric Property (LMP)Director name: Jones,AndrewAmount purchased: 74,879 @ 158.20pValue: £118,458.58Londonmetric Property (LMP)Director name: Beresford,ValentineAmount purchased: 41,798 @ 158.20pValue: £66,124.44Londonmetric Property (LMP)Director name: Stirling,MarkAmount purchased: 41,798 @ 158.20pValue: £66,124.44Londonmetric Property (LMP)Director name: McGann,MartinAmount purchased: 37,039 @ 158.20pValue: £58,595.70