Prudential Chairman keeps the faith

3rd Apr 2013 16:05

Paul Manduca, the Chairman of Prudential, the FTSE 100 life insurance company, this week showed his faith in the company with the purchase of 20,000 shares following a hefty fine levied by the Financial Services Authority (FSA) at the end of March. Manduca, who became Chairman in July of last year, bought the shares at 1,059.48p, giving a trade value of £211,895. On March 27th the company was slapped with a £30m fine for failing to inform the FSA early enough about its intention to acquire AIA, a life insurance firm and Asian subsidiary of AIG. Speaking at the time of the settlement, Manduca said the company now wished to "draw a line under the matter". The FSA commented that although it considered the circumstances of the breach to be serious, it did not believe they were reckless or intentional. Manduca's total holding now stands at 22,500 shares. Top Director BuysRuspetro (RPO) Director name: Mr Alexander ChistyakovAmount purchased: 53,960 @ 2,301.00p Value: £1,241,620Prudential (PRU) Director name: Mr Paul ManducaAmount purchased: 20,000 @ 1,059.48p Value: £211,896Ruspetro (RPO) Director name: Mr Alexander ChistyakovAmount purchased: 589,555 @ 29.04p Value: £171,207Trifast (TRI) Director name: Mr Neil ChapmanAmount purchased: 200,000 @ 59.00p Value: £118,000Ruspetro (RPO) Director name: Mr Alexander ChistyakovAmount purchased: 130,615 @ 29.83p Value: £38,962Prudential (PRU) Director name: Mr Philip RemnantAmount purchased: 2,100 @ 1,058.80p Value: £22,235Ferrum Crescent Ltd NPV (DI) (FCR) Director name: Mr Edward F G NealonAmount purchased: 1,000,000 @ 1.17p Value: £11,700Personal Assets Trust (PNL) Director name: Mr Frank Rushbrook Amount purchased: 31 @ 36,330.00p Value: £11,262Pathfinder Minerals (PFP) Director name: Mr Nicholas TrewAmount purchased: 1,250,000 @ 0.80p Value: £10,000Top Director SellsBunzl (BNZL) Director name: Mr Patrick LarmonAmount sold: 45,000 @ 1,313.00p Value: £590,850Albemarle & Bond Holdings (ABM) Director name: Mr Greville NichollsAmount sold: 13,000 @ 213.00p Value: £27,690Ashtead Group (AHT) Director name: Mr Ian SutcliffeAmount sold: 4,166 @ 610.00p Value: £25,413Ashtead Group (AHT) Director name: Mr Ian SutcliffeAmount sold: 2,200 @ 611.00p Value: £13,442NR