Legal & General finance chief invests £670,000

19th Oct 2009 16:00

Legal & General's new chief financial officer Dr Nigel Wilson has bought £670,000 worth of shares less than seven weeks after joining the board of the insurer. Dr Wilson tookup his appointment on 1 September 2009. He did not own any shares at the time. Dr Wilson bought 760,948 shares at 88p each on 16 October. That is equivalent to 0.013% of L&G. He has been awarded a further 760,948 shares at 88p each. The award of these matching shares is conditional. A further 1.19m shares have been conditionally awarded at 87.9p each as part of the company's performance share plan. Dr Wilson joined L&G from United Business Media, where he was deputy chief executive and finance director. He is also senior non-executive director at retailer Halfords. L&G reported a 92% slump in operating profit in the six months to June 2009. The interim dividend was slashed by 45% to 1.11p a share. The L&G share price closed at 74.45p on 1 September and has recovered to 85.85p. The share price is one-third higher than one year ago. Top Director BuysLegal & General Group (LGEN) Director name: Mr Nigel WilsonAmount purchased: 760,948 @ 88.00p Value: £669,634Ukraine Opportunity Trust (UKRO) Director name: Mr Miles Quintin MorlandAmount purchased: 50,000 @ $2.00 Value: $100,000North Midland Construction (NMD) Director name: Mr Robert MoyleAmount purchased: 10,000 @ 170.00p Value: £17,000Top Director SellsGoodwin Plc (GDWN) Director name: Mr Matthew Stanley GoodwinAmount sold: 52,133 @ 1,055.00p Value: £550,003Xstrata (XTA) Director name: Mr David RoughAmount sold: 14,000 @ 1,021.00p Value: £142,940BATM Advanced (BVC) Director name: Dr Dan KaznelsonAmount sold: 30,000 @ 55.00p Value: £16,500