Flowgroup's CEO buys shares after cuts in boiler installations

17th Jun 2015 15:51

The chief executive of Flowgroup increased his stake in the energy technology developer one day after it decided to cut its boiler installations for 2015.Tony Stiff bought 110,742 shares for 13.75p each, spending a total of £15,227 in the purchase.Following the transaction, Stiff holds 2.3m shares in the company, which represent 0.726% of its ussed capital.The company plunged as much as 37% on Tuesday following news it reduced its boiler installations for the rest of the year after the European Court of Justice ruled that it had breached EU laws with its UK sales tax reduction on energy saving products.Flowgroup warned that reaching profitability would take longer than originally anticipated in the wake of the ruling. As a result, it pushed back its forecast for a net generative cash flow from the fourth quarter of 2015, to the first quarter of 2016.Top Director BuysIntu Properties (INTU) Director name: Mr John Whittaker Amount purchased: 24,741,724 @ 324.30p Value: £80,237,411Share plc (SHRE) Director name: Mr Richard TolkienAmount purchased: 151,515 @ 33.00p Value: £50,000Flowgroup (FLOW) Director name: Mr Tony StiffAmount purchased: 110,742 @ 13.75p Value: £15,227GETECH Group (GTC) Director name: Mr Peter StephensAmount purchased: 25,000 @ 53.00p Value: £13,250GETECH Group (GTC) Director name: Mr Peter StephensAmount purchased: 25,000 @ 53.00p Value: £13,250Top Director SellsPatisserie Holdings (CAKE) Director name: Mr Luke Oliver Johnson Amount sold: 4,046,823 @ 312.00p Value: £12,626,088Patisserie Holdings (CAKE) Director name: Mr Paul Edward May Amount sold: 506,000 @ 312.00p Value: £1,578,720Patisserie Holdings (CAKE) Director name: Mr James Michael Alexander Horler Amount sold: 147,000 @ 312.00p Value: £458,640Patisserie Holdings (CAKE) Director name: Mr Christopher David Marsh Amount sold: 51,000 @ 312.00p Value: £159,120