Koovs chairman buys shares following warning trading update

2nd Apr 2015 16:24

The chairman of Koovs bought new shares in the Indian e-commerce fashion showing confidence in the group after warning higher costs and funding needs in a trading update.Waheed Alli bought 152,500 shares for an individual price of 65p, spending a total of £0.99m.After the transaction, the former Asos chairman holds 4.86m shares in Koovs.This is likely to lead to a larger loss than the market expected."We now expect these higher costs to continue, reflecting the rapid rate of growth in the Indian e-commerce market," the company added.Alli added: "We will therefore seek further funding in due course to realise the potential of the business and the market."Top Director BuysRM2 International S.A. (DI) (RM2) Director name: Mr John WalshAmount purchased: 1,200,000 @ 54.00p Value: £648,000Koovs (KOOV) Director name: Lord Waheed AlliAmount purchased: 152,500 @ 65.00p Value: £99,125Stanley Gibbons Group (SGI) Director name: Mr David Martin BralsfordAmount purchased: 22,000 @ 238.00p Value: £52,360Vianet Group (VNET) Director name: Mr James DicksonAmount purchased: 41,560 @ 89.00p Value: £36,988Inspirit Energy Holdings (INSP) Director name: Mr Neil LukeAmount purchased: 3,300,000 @ 1.00p Value: £33,000ITV (ITV) Director name: Mr Archie Norman Amount purchased: 11,142 @ 255.90p Value: £28,512Dunedin Enterprise Investment Trust (DNE) Director name: Mr Brian FinlaysonAmount purchased: 8,000 @ 340.23p Value: £27,218North Atlantic Smaller Companies Inv Trust (NAS) Director name: Mr Christopher H B MillsAmount purchased: 1,121 @ 1,905.00p Value: £21,355Puricore (PURI) Director name: Mr Charles SpicerAmount purchased: 50,610 @ 32.00p Value: £16,195Inspirit Energy Holdings (INSP) Director name: Mr John GunnAmount purchased: 2,000,000 @ 0.68p Value: £13,600Top Director SellsGKN (GKN) Director name: Mr Andrew Reynolds SmithAmount sold: 343,558 @ 359.19p Value: £1,234,026GKN (GKN) Director name: Mr Nigel SteinAmount sold: 192,905 @ 359.19p Value: £692,895Kingfisher (KGF) Director name: Mr Kevin O'ByrneAmount sold: 66,000 @ 373.13p Value: £246,266Signet Jewelers Ltd. (SIG) Director name: Mr H Todd StitzerAmount sold: 1,700 @ 9,408.03p Value: £159,937Tribal Group (TRB) Director name: Mr Steve Breach Amount sold: 81,296 @ 148.00p Value: £120,318Wood Group (John) (WG.) Director name: Mr Michel ContieAmount sold: 4,634 @ 634.50p Value: £29,403Henderson Group (HGG) Director name: Mr Roger Thompson Amount sold: 5,883 @ 283.33p Value: £16,668