Director dealings: Venn Life Sciences chairman sees value

2nd Nov 2016 16:13

(ShareCast News) - Venn Life Sciences chairman Allan Wood bought £50,000 worth of the contract clinical research provider's shares, it was revealed on Wednesday.Wood picked up 230,000 shares in two purchases at an average price of 21.67p.Shares in the AIM-listed company have drifted since interim results at the end of September, having skimmed near 12-month highs in the weeks before, with the sale of the InnoVenn innovation division for £4.7m in October not particularly well received by the market.Sales in the first half of the year were more than doubled to €9.06m thanks to good contract wins and the impact of the Kinesis acquisition, while operating losses shrank to €0.03m from €0.08m the year before and there was over €2m cash in the bank as of 23 September.Venn reported a strong pipeline of projects into the second half of the year, with average project size continuing to increase, including for example a €2.8m contract with a biotech client in Europe, while its Interactive Response Technology (IRT) department also qualified as a service provider to a top-ten pharma and was awarded an initial project involving thirty sites in China.Wood and canny chief executive Tony Richardson, who hoped the innovation sale would help investors better perceive the value of the core business, are eyeing acquisitions in what is a fragmented market, particularly in Central and Eastern Europe. For the full year, broker Hybridian forecasts revenues of €17.03m, €1.6m of profit before tax, amortisation and exceptionals and earnings of €0.016 per share.Top Director BuysVenn Life Sciences Holdings (VENN)Director name: Wood,AllanAmount purchased: 165,000 @ 21.73pValue: £35,854.50Surgical Innovations Group (SUN)Director name: Rogers,NigelAmount purchased: 480,000 @ 3.13pValue: £15,009.60Surgical Innovations Group (SUN)Director name: Rogers,NigelAmount purchased: 480,000 @ 3.13pValue: £15,009.60Venn Life Sciences Holdings (VENN)Director name: Wood,AllanAmount purchased: 65,000 @ 21.50pValue: £13,975.00Equiniti Group (EQN)Director name: Wakeley,GuyAmount purchased: 5,128 @ 195.00pValue: £9,999.60Schroder Uk Mid Cap Fund (SCP)Director name: Rickman,RobertAmount purchased: 2,265 @ 429.75pValue: £9,733.84Rathbone Brothers (RAT)Director name: Chavasse,Paul D GAmount purchased: 813 @ 1,106.00pValue: £8,991.78Surgical Innovations Group (SUN)Director name: Rogers,NigelAmount purchased: 247,031 @ 3.13pValue: £7,724.66Active Energy Group (AEG)Director name: Rowan ,Michael Amount purchased: 160,000 @ 2.90pValue: £4,640.00Active Energy Group (AEG)Director name: Evans-Jones,BrianAmount purchased: 150,000 @ 2.86pValue: £4,290.00Paragon Entertainment Ltd (di) (PEL)Director name: Pyrah,Mark ColinAmount purchased: 78,654 @ 2.52pValue: £1,982.08Active Energy Group (AEG)Director name: Spinks,Richard GeorgeAmount purchased: 63,000 @ 3.00pValue: £1,890.00Jpmorgan American Inv Trust (JAM)Director name: Bragg,Simon Amount purchased: 360 @ 351.48pValue: £1,265.33Great Portland Estates (GPOR)Director name: Courtauld,TobyAmount purchased: 26 @ 585.64pValue: £152.27Great Portland Estates (GPOR)Director name: Thompson,NeilAmount purchased: 26 @ 585.64pValue: £152.27Great Portland Estates (GPOR)Director name: Sanderson,NickAmount purchased: 26 @ 585.64pValue: £152.27Centrica (CNA)Director name: Hanafin,MarkAmount purchased: 70 @ 214.70pValue: £150.29Miton Group (MGR)Director name: Williams,GervaisAmount purchased: 498 @ 30.13pValue: £150.02Miton Group (MGR)Director name: Chimes,Ian MichaelAmount purchased: 498 @ 30.13pValue: £150.02Premier Oil (PMO)Director name: Rose ,RichardAmount purchased: 221 @ 67.75pValue: £149.73Lsl Property Services (LSL)Director name: Crabb,IanAmount purchased: 76 @ 197.00pValue: £149.72Lsl Property Services (LSL)Director name: Gill,AdrianAmount purchased: 76 @ 197.00pValue: £149.72Lsl Property Services (LSL)Director name: Castleton ,Adam Amount purchased: 76 @ 197.00pValue: £149.72Centrica (CNA)Director name: Hodges,MarkAmount purchased: 69 @ 214.70pValue: £148.14Premier Oil (PMO)Director name: Allan,RobinAmount purchased: 185 @ 67.75pValue: £125.34Premier Oil (PMO)Director name: Durrant ,Tony Amount purchased: 185 @ 67.75pValue: £125.34Top Director SellsSurgical Innovations Group (SUN)Director name: Rogers,NigelAmount sold: 723,222 @ 3.13pValue: £22,600.69Surgical Innovations Group (SUN)Director name: Rogers,NigelAmount sold: 483,809 @ 3.13pValue: £15,119.03