Pace CFO cheers with share purchase

7th May 2014 15:51

Pace shares were moving higher on Wednesday after the group's Chief Financial Officer (CFO), Roddy Murray, bought himself 30,000 shares in the technology developer.Paying 349.9p a share, Murray spent a total of £104,970 and took his total beneficial holding to 130,000 shares. The deal took advantage of the recent decline in the group's share price, which has fallen from 483.50p in March.The transaction came just two weeks after the group reported a good start to the financial year, saying forecast demand for both current and new products was building as the year progressed. As such, it said it was confident that it was on track to achieve its previously stated guidance of 2014 revenue of around $2.7bn, up from $2.47bn in 2013, while the operating margin is expected to rise to around 8.5% from 7.8% last year. It's cash flow, however, is set to come in at $185m, down from $209m, as previously forecast. Top Director BuysPace (PIC) Director name: Mr Roddy MurrayAmount purchased: 30,000 @ 349.90p Value: £104,970Scisys (SSY) Director name: Mr Klaus Martin HeidrichAmount purchased: 50,000 @ 92.75p Value: £46,375Coal of Africa Ltd. (CZA) Director name: Mr Michael Meeser Amount purchased: 300,000 @ 4.53p Value: £13,590Top Director SellsBunzl (BNZL) Director name: Mr Patrick LarmonAmount sold: 28,516 @ 1,670.00p Value: £476,217NR