SABMiller director ups stake after recent share-price weakness

7th Feb 2014 15:49

Miles Morland, a long-standing director at drinks giant SABMiller, invested over a quarter of a million pounds in the firm on Friday, choosing to raise his stake after the stock hit a 15-month low earlier in the week.Morland, who joined the board in 1999, acquired 10,000 shares at a price of 2,728.9p each, spending a total of £272,890.The stock, trading at around 2,720p on Friday afternoon, has fallen by over 12% since the start of 2013. The shares finished at 2,661p on Wednesday, their lowest level since November 2012.SABMiller has declined sharply since mid-January when it reported that net producer revenues in its third quarter ended December were up 4% year-on-year, while beverage volumes grew 2%.The company admitted the depreciation of key currencies against the US dollar weighed on growth during the period.Top Director BuysSABMiller (SAB) Director name: Mr Miles Quintin MorlandAmount purchased: 10,000 @ 2,728.89p Value: £272,8893i Group (III) Director name: Sir Adrian Montague CBEAmount purchased: 7,692 @ 390.01p Value: £30,000Conroy Gold & Natural Resources (CGNR) Director name: Mr Seamus Philip FitzPatrickAmount purchased: 1,666,666 @ 1.05p Value: £17,500Top Director SellsMurgitroyd Group (MUR) Director name: Dr Kenneth George ChrystieAmount sold: 2,000 @ 665.00p Value: £13,300BC