Hardy director buys after Beazley ends bid talks

21st Dec 2010 16:39

Hardy Underwriting Bermuda director Paul Bailie has bought shares following last week's withdrawal of Beazley from bid talks for the insurance underwriter. Beazley had indicated that it was willing to offer 350p a share for Hardy but the two could not agree on a price. Hardy is thought to have wanted around 400p a share. Bailie bought 30,000 shares at 275p a share at a total cost of £82,500. His total holding is 41,479 shares. Bailie is managing director of the Bermudan operations of Hardy. The whole group was redomiciled from the UK to Bermuda in 2008 but it also has Lloyds of London operations. Hardy has also bought back 100,000 shares at 275p each. Top Director BuysHardy Underwriting Bermuda Ltd. (DI) (HDU) Director name: Mr Paul BailieAmount purchased: 30,000 @ 275.00p Value: £82,500Banco Santander SA (BNC) Director name: Mr Francisco Luzon LopezAmount purchased: 6,330 @ 670.68p Value: £42,455Western & Oriental (WEST) Director name: Mr Rajinder (Raj) Kumar Amount purchased: 2,000,000 @ 1.50p Value: £30,000MirLand Development Corp. (MLD) Director name: Mr Steven HolmAmount purchased: 9,555 @ 273.00p Value: £26,085MirLand Development Corp. (MLD) Director name: Mr Steven HolmAmount purchased: 5,800 @ 257.00p Value: £14,906Top Director SellsWolfson Microelectronics (WLF) Director name: Mr David MilneAmount sold: 250,000 @ 290.00p Value: £725,000Northern Venture Trust (NVT) Director name: Mr Edward Michael P DennyAmount sold: 92,881 @ 78.30p Value: £72,726Northern Venture Trust (NVT) Director name: Mr John Randolph HustlerAmount sold: 58,793 @ 78.30p Value: £46,035Northern Venture Trust (NVT) Director name: Mr Ross S PetersAmount sold: 14,442 @ 78.30p Value: £11,308Northern Venture Trust (NVT) Director name: Mr Hugh YoungerAmount sold: 13,484 @ 78.30p Value: £10,558