Dunelm director shows commitment to firm with share purchase

6th Mar 2012 15:48

Newly appointed director at Dunelm Matt Davies has underlined his loyalty to the homewares firm with the purchase of 4,500 shares. Davies, who joined the firm early last month, bought the shares for 499p each for a total of £22,455. Davies joined the firm after resigning from his job as head of animal products retailer Pets at Home, a position he held since 2004. His purchase is unlikely to do much to appease investors who yesterday learnt that Will Adderley, Executive Deputy Chairman and the son of the founder of the company, plans to cash in a big chunk of his shares in the bedding and curtains retailer. Adderley and his wife Nadine are offloading around 5m shares, representing about 2.5% of the issued share capital of Dunelm. The disposal will still leave the Adderley family holding around 56.2% of all the Dunelm shares in issue, with Will Adderley's personal stake standing at 32.4%.Last month the firm reported a 7.8% rise in pre-tax profit for the half year ended December 31st.As expected, profits for the year came in at £52.2m, compared to £48.4m for the same period of the previous year, on revenues of £299.9m, which is up 8.8% compared to the year before (2010: £275.7m). Shares in the firm fell 0.48% to 480.50p by 16:09. Top Director BuysLandore Resources Ltd. (LND) Director name: Mr William HumphriesAmount purchased: 3,350,000 @ 7.50p Value: £251,250Landore Resources Ltd. (LND) Director name: Mr Richard PrickettAmount purchased: 707,335 @ 7.50p Value: £53,050Weir Group (WEIR) Director name: Melanie Gee Amount purchased: 2,500 @ 1,958.00p Value: £48,950Dunelm Group (DNLM) Director name: Mr Matt Davies Amount purchased: 4,500 @ 499.00p Value: £22,455Mytrah Energy Ltd (MYT) Director name: Mr Ravi KailasAmount purchased: 20,000 @ 103.25p Value: £20,650MS International (MSI) Director name: Mr Michael J BellAmount purchased: 7,000 @ 294.50p Value: £20,615City of London Investment Group (CLIG) Director name: Miss Lynn RuddickAmount purchased: 4,000 @ 371.44p Value: £14,858Interserve (IRV) Director name: Mr Leslie CullenAmount purchased: 4,000 @ 303.00p Value: £12,120Top Director SellsInterContinental Hotels Group (IHG) Director name: Mr Kirk Kinsell Amount sold: 20,000 @ 1,446.40p Value: £289,280National Express Group (NEX) Director name: Mr Dean K FinchAmount sold: 25,754 @ 239.00p Value: £61,552National Express Group (NEX) Director name: Mr Jez K MaidenAmount sold: 20,603 @ 239.00p Value: £49,241Empyrean Energy (EME) Director name: Mr Thomas KellyAmount sold: 560,000 @ 7.75p Value: £43,400