Kofax chairman tops up

26th Sep 2011 14:28

The chairman of Kofax's remuneration committee, Chris Conway, has bought £62,500 worth of shares in the company less than a month after it missed expectations for the year. Kofax, which provides capture driven process automation solutions, reported a 12% increase in total revenues to $243.9m (£151m) in the year ended 30 June, just shy of the $244-246m range the company expected.Conway, who is also a member of the firm's audit and nomination committees, bought 25,000 shares at 250.00p each. He now holds 300,000 ordinary shares representing 0.34% of the issued share capital of the company. He was appointed to the Kofax board in December 2004, is non-executive chairman of two privately-held technology companies, Artificial Solutions and Web Technology Group. The firm's most recent results showed level of sales, up from $217m the year before, but it represented 10% organic growth on a constant currency basis, well below the firm's initial target of 14%. The share price fell 1.2% to 288.75p by 14:40.Top Director BuysKofax (KFX) Director name: Mr Christopher J ConwayAmount purchased: 25,000 @ 250.00p Value: £62,500XG Technology Inc. (Reg S) (XGT) Director name: Mr George Schmitt Amount purchased: 35,000 @ $1.39 Value: $48,689Northern 3 VCT (NTN) Director name: Mr James FergusonAmount purchased: 27,123 @ 93.50p Value: £25,360IQE (IQE) Director name: Mr Adrian Meldrum Amount purchased: 93,800 @ 26.50p Value: £24,857XG Technology Inc. (Reg S) (XGT) Director name: Mr Mats WennbergAmount purchased: 15,000 @ $1.39 Value: $20,867SABMiller (SAB) Director name: Mr John A ManzoniAmount purchased: 591 @ 2,046.89p Value: £12,097