Director dealings: RBS directors snap up GBP1m of shares

29th Feb 2016 15:43

(ShareCast News) - Royal Bank of Scotland's chairman, chief executive and finance director have together spent £1m buying shares as the state-owned bank hit its lowest levels for three and a half years.CEO Ross McEwan bought 200,000 at 223p for £446,000, with CFO Ewen Stevenson buying the same number at 223.2p, costing him an extra £400, while chairman Howard Davies spent £88,840 on 40,000 shares.On Friday, shares in the bank sank below 220p after the posting of the bank's eighth consecutive year of losses, with the prospects of any dividend payouts also pushed back from the first quarter of 2017, a delay compared to previous guidance.Although the loss before tax was narrower than the previous year, it was 15% below consensus forecasts due to weak revenues that were only partly offset by lower costs and lower impairments.The day before the results were posted, McEwan said he will hand back £1m of his annual pay package, a "role-based" shares incentive, which tops up his regular salary. He is still expected to be paid £2.7m despite turning down the award.Earlier in the month RBS said it would slightly reduce its total bonus payments for the year to £480m.Top Director BuysRoyal Bank Of Scotland Group (RBS)Director name: Stevenson,EwenAmount purchased: 200,000 @ 223.20pValue: £446,400.02Royal Bank Of Scotland Group (RBS)Director name: McEwan ,Ross Amount purchased: 200,000 @ 223.00pValue: £446,000.00Spirent Communications (SPT)Director name: Hutchinson,Eric GAmount purchased: 297,464 @ 83.60pValue: £248,679.91Tristel (TSTL)Director name: Soler,Francisco AngelAmount purchased: 112,038 @ 114.70pValue: £128,507.58Foreign And Colonial Inv Trust (FRCL)Director name: Moakes,NicholasAmount purchased: 30,000 @ 427.33pValue: £128,199.01Royal Bank Of Scotland Group (RBS)Director name: Davies,HowardAmount purchased: 40,000 @ 222.10pValue: £88,840.00Spirent Communications (SPT)Director name: Maxwell,TomAmount purchased: 60,000 @ 84.01pValue: £50,403.96Lloyds Banking Group (LLOY)Director name: Prettejohn,NickAmount purchased: 69,280 @ 72.17pValue: £49,999.38Spirent Communications (SPT)Director name: Hutchinson,Eric GAmount purchased: 58,787 @ 84.50pValue: £49,675.02Pearson (PSON)Director name: Williams,Coram Amount purchased: 5,000 @ 836.00pValue: £41,800.00Sthree (STHR)Director name: Fahy,AnneAmount purchased: 4,000 @ 305.00pValue: £12,200.00William Hill (WMH)Director name: Gardner,Roy AAmount purchased: 2,600 @ 399.00pValue: £10,373.91Aberdeen Japan Investment Trust (AJIT)Director name: Brade ,Karen Amount purchased: 1,383 @ 422.00pValue: £5,836.26Oxford Biomedica (OXB)Director name: Diggle ,Martin Amount purchased: 29,345 @ 6.63pValue: £1,945.19Albion Enterprise Vct (AAEV)Director name: Reeve,PatrickAmount purchased: 1,749 @ 95.71pValue: £1,673.97Aberdeen Japan Investment Trust (AJIT)Director name: Brade ,Karen Amount purchased: 117 @ 424.90pValue: £497.13Top Director SellsAberdeen Japan Investment Trust (AJIT)Director name: Brade ,Karen Amount purchased: 1,400 @ 420.00pValue: £5,880.00