RM2 International boss buys £0.6m of shares

18th Jul 2014 14:51

Pallet manufacturer RM2 International, which floated on the stock market at the start of the year, has announced that its boss John Walsh has bought one million shares in the company.Former banker Walsh, who has been RM2's Chief Executive since its inception, purchased the shares at a price of 61.625p, just a month after the shares hit a new low of 50p.Ahead of Walsh's transaction on Thursday, the stock had fallen by over a third since its debut in January, The price had reached a high of 112p shortly after listing.Walsh's £0.62m spend lifted his stake in RM2 to over 21.05m shares, equal to a 6.6% holding.Last month, the firm reported an annual loss before tax of $77.2m for 2013, compared with $21.3m the year before, mainly as a result of higher admin expenses and finance costs.Top Director BuysRM2 International S.A. (DI) (RM2) Director name: Mr John WalshAmount purchased: 1,000,000 @ 61.62p Value: £616,200Character Group (CCT) Director name: Mr Jonathan James DiverAmount purchased: 150,000 @ 230.83p Value: £346,245Sinclair Is Pharma (SPH) Director name: Mr Robert Stuart SwansonAmount purchased: 1,000,000 @ 30.66p Value: £306,500Metal Tiger (MTR) Director name: Mr Paul JohnsonAmount purchased: 3,500,000 @ 5.00p Value: £175,000Sinclair Is Pharma (SPH) Director name: Mr Jean-Charles TschudinAmount purchased: 500,000 @ 30.75p Value: £153,750El Oro Ltd (ELX) Director name: Mr C. Robin W. ParishAmount purchased: 202,995 @ 70.00p Value: £142,096Metal Tiger (MTR) Director name: Mr Alex BorrelliAmount purchased: 2,500,000 @ 5.00p Value: £125,000Metal Tiger (MTR) Director name: Mr Alex BorrelliAmount purchased: 2,400,000 @ 5.00p Value: £120,000Metal Tiger (MTR) Director name: Mr Nicholas LeeAmount purchased: 2,000,000 @ 5.00p Value: £100,000Elektron Technology (EKT) Director name: Mr Keith Anthony DaleyAmount purchased: 1,640,000 @ 5.00p Value: £82,000Top Director SellsCharacter Group (CCT) Director name: Mr Jonathan James DiverAmount sold: 150,000 @ 200.00p Value: £300,000