First investment by JJB boss

1st Jul 2010 16:34

JJB Sports chief executive Keith Jones has bought his first shares in the sportswear retailer following the conclusion of its company voluntary arrangement (CVA). JJB said all claims have been dealt with and the supervisors of the CVA have served notices terminating the arrangements with effect from 16 June 2010. JJB entered into a CVA with creditors and shareholders in May 2009 to avoid collapse.Jones has invested just over £90,000 by buying 710,000 shares at 12.69p each. His stake is equal to 0.11% of the JJB share capital. Non-executive director David Adams bought an initial 100,000 shares at the same share price. The news came on the day that it was announced that chairman John Clare had agreed to take his salary for the next two years in the form of shares. His fee is £150,000 a year. JJB has awarded 1,714,285 shares to Clare in lieu of his salary. They were issued at 17.5p each, which was the closing price on 27 May 2010 when Clare became chairman. He will receive the shares on 27 May 2012. Top Director BuysMicro Focus International Plc (MCRO) Director name: Mr Kevin LoosemoreAmount purchased: 100,000 @ 412.90p Value: £412,900Micro Focus International Plc (MCRO) Director name: Mr Nigel CliffordAmount purchased: 99,138 @ 413.60p Value: £410,035Western Coal Corp. (WTN) Director name: Mr David R. Beatty, O.B.EAmount purchased: 50,000 @ 270.37p Value: £135,185Resolution (RSL) Director name: Mr Gerardo ArosteguiAmount purchased: 150,000 @ 67.90p Value: £101,850Land Securities Group (LAND) Director name: Mr Francis SalwayAmount purchased: 17,777 @ 562.50p Value: £99,996JJB Sports (JJB) Director name: Mr Keith Jones Amount purchased: 710,000 @ 12.69p Value: £90,099Electric & General Inv Trust (ENG) Director name: Mr Jonathan G RufferAmount purchased: 17,000 @ 327.50p Value: £55,675Next (NXT) Director name: Mr Francis SalwayAmount purchased: 2,556 @ 1,956.00p Value: £49,995Synergy Healthcare (SYR) Director name: Mr Gavin HillAmount purchased: 7,500 @ 656.00p Value: £49,200Nestor Healthcare (NSR) Director name: Mr John L RennocksAmount purchased: 70,000 @ 60.00p Value: £42,000Top Director SellsInvestec (INVP) Director name: Mr Bernard KantorAmount sold: 187,500 @ 454.00p Value: £851,250Investec (INVP) Director name: Mr Glynn BurgerAmount sold: 150,000 @ 455.00p Value: £682,500Andor Technology (AND) Director name: Mr Chris CallingAmount sold: 17,000 @ 256.00p Value: £43,520