Mothercare directors dig deep to support rights issue

29th Sep 2014 16:10

Mothercare directors have bought shares following the launch of a rights issue a week earlier.The group, which has seen its shares fall more than 30% in the year-to-date, called on shareholders to back the heavily discounted rights issue and now its board members and senior management have stumped up their own cash to support the move.At £273,967, the largest purchase was made by its chief executive, Mark Newton-Jones, who had previously pledged to commit a total of £0.4m of his own cash.Speaking at the announcement of the rights issue, Newton-Jones said: "The support of our shareholders will allow us to deliver on this ambition. I am excited about the prospects for this company and the opportunity we have to provide great products, service and advice to our customers worldwide."Chief financial officer Matt Smith bought 4,132 shares.Altogether, directors and management acquired a total of 206,187 shares, all of which were purchased at a price of 248.61p.Top Director BuysMothercare (MTC) Director name: Mr Mark Newton-JonesAmount purchased: 110,200 @ 248.61p Value: £273,968Monitise (MONI) Director name: Ms Elizabeth Buse Amount purchased: 505,868 @ 31.36p Value: £158,640Cambridge Cognition Holdings (COG) Director name: Dr Nicholas Anthony KertonAmount purchased: 55,000 @ 65.50p Value: £36,025Cambridge Cognition Holdings (COG) Director name: Mr Nick WaltersAmount purchased: 45,000 @ 65.50p Value: £29,475Character Group (CCT) Director name: Mr Michael Spencer HydeAmount purchased: 9,681 @ 215.00p Value: £20,814Mothercare (MTC) Director name: Mr Richard RiversAmount purchased: 7,984 @ 248.61p Value: £19,849Shanks Group (SKS) Director name: Mr Adrian AuerAmount purchased: 20,000 @ 90.75p Value: £18,150Horizonte Minerals (HZM) Director name: Mr Jeremy John MartinAmount purchased: 180,000 @ 4.69p Value: £8,442Shanks Group (SKS) Director name: Mr Toby WoolrychAmount purchased: 12,736 @ 90.17p Value: £11,485Mothercare (MTC) Director name: Mr Matt Smith Amount purchased: 4,132 @ 248.61p Value: £10,273Top Director SellsKingfisher (KGF) Director name: Mr Kevin O'ByrneAmount sold: 350,000 @ 318.02p Value: £1,113,070