Sierra Rutile Chairman increases stake to above 2m shares

23rd Sep 2013 15:54

Sierra Rutile's Non-Executive Chairman, Jan Castro, has swelled his stake in the mineral sands group to more than two million shares after a purchase made at the end of last week. Castro bought 627,500 shares at 50p a time, costing him a total of £313,750. A more modest purchase was made the same day by Non-Executive Director Mike Brown, who spent £17,500 on 35,000 shares. At the half year point the group reported a 22% increase in rutile production at 51,985 tonnes, however sales in the first six months of the year fell 33% to $66.4m, primarily as a result of lower market pricing. Profit before tax for the period totalled $3.8m, compared to $56.7m in the same period the prior year. Castro and Brown now hold 2.3m and 285,000 shares, respectively. Top Director BuysSierra Rutile Ltd (SRX) Director name: Mr Jan Alex CastroAmount purchased: 627,500 @ 50.00p Value: £313,750Sierra Rutile Ltd (SRX) Director name: Mr Michael BrownAmount purchased: 35,000 @ 50.00p Value: £17,500Plant Health Care (PHC) Director name: Mr James Ede-GolightlyAmount purchased: 21,000 @ 69.00p Value: £14,490Foresight 3 VCT (FTD) Director name: Mr Peter DicksAmount purchased: 24,691 @ 55.50p Value: £13,704Top Director SellsAllocate Software (ALL) Director name: Mr Chris GaleAmount sold: 447,571 @ 101.00p Value: £452,047Allocate Software (ALL) Director name: Mr Terry OsborneAmount sold: 100,000 @ 101.00p Value: £101,000red24 (REDT) Director name: Mr Simon RichardsAmount sold: 240,000 @ 15.75p Value: £37,800