Petroceltic board stocks up after placing approved

27th Jun 2014 16:34

The board members of oil and gas company Petroceltic International has purchased a round of shares at 157p each following the placing announced last month, the second tranche of which was approved on Thursday at an extraordinary general meeting. The largest deals were carried out by Chief Executive Officer Brian O'Cathain and Chief Financial Officer Tom Hickey, who each added 76,464 shares. Chief Operating Officer David Thomas added 22,031, while Non-Executive Deputy Chairman Hugh McCutcheon acquired 6,401. Altogether, the board members purchased a total of 192,130 shares. The placing was proposed last month and was carried out to raise around £59.7m to give the company greater flexibility to pursue various growth opportunities.At the time of the placing announcement, O'Cathain said: "The proceeds of this placing will provide the company with the financial flexibility to undertake all its currently planned exploration programs, continue the current pace of progress on the Isarene PSC pending completion of the second farm-out to Sonatrach and to maintain an appropriate balance of debt and equity funding within the business."Top Director BuysWolseley (WOS) Director name: Mr John DalyAmount purchased: 1,500 @ 3,202.00p Value: £48,030Infinis Energy (INFI) Director name: Mr Alan BryceAmount purchased: 10,000 @ 236.10p Value: £23,610Porta Communications (PTCM) Director name: Mr Brian BlasdaleAmount purchased: 189,990 @ 10.50p Value: £19,949Jubilee Platinum (JLP) Director name: Mr Colin BirdAmount purchased: 1,300,000 @ 1.53p Value: £19,890BowLeven (BLVN) Director name: Mr Kevin HartAmount purchased: 50,000 @ 37.70p Value: £18,850Goldenport Holdings Inc. (DI) (GPRT) Director name: Mr Alexis StephanouAmount purchased: 5,000 @ 352.00p Value: £17,600SeaEnergy (SEA) Director name: Mr David Kemlo Laing Amount purchased: 40,000 @ 37.40p Value: £14,960SeaEnergy (SEA) Director name: Mr David SigsworthAmount purchased: 40,000 @ 36.50p Value: £14,600Inspirit Energy Holdings (INSP) Director name: Mr David LenigasAmount purchased: 1,000,000 @ 1.46p Value: £14,600EMIS Group (EMIS) Director name: Mr Kevin BoydAmount purchased: 1,500 @ 740.00p Value: £11,100Top Director SellsInvestec (INVP) Director name: Mr Hendrik du ToitAmount sold: 62,500 @ 523.00p Value: £326,875Investec (INVP) Director name: Mr David MillerAmount sold: 5,000 @ 531.00p Value: £26,550NR