Sinclair IS Pharma non-execs subscribe for placing shares

2nd May 2014 15:55

Stuart Swanson, a non-executive director of AIM-listed Sinclair IS Pharma on Friday subscribed for just under 3.13m shares as part of a placing that was on Thursday approved by shareholders to support the acquisition of Silhouette, an aesthetics company. The deal followed a purchase made earlier in the week of 333,040 shares in two tranches for a total cost of £102,109. Shareholders on Thursday agreed to the placing of 62.5m shares to raise £19.5m, the proceeds of which will be used to part-fund the £70.1m purchase of Silhourette. Swanson paid 32p for each of the placing shares, spending a total of £1m, while Jean-Charles Tschudin, a fellow non-exec, subscribed for 500,000 shares at the same price, costing him £160,000. Top Director BuysHuntsworth (HNT) Director name: Mr Lord (Paul) MynersAmount purchased: 200,000 @ 65.00p Value: £130,000Sinclair Is Pharma (SPH) Director name: Mr Robert Stuart SwansonAmount purchased: 320,226 @ 30.67p Value: £98,213Home Retail Group (HOME) Director name: Mr John CoombeAmount purchased: 6,635 @ 206.20p Value: £13,681Top Director SellsBabcock International Group (BAB) Director name: Mr William (Bill) TameAmount sold: 89,925 @ 414.59p Value: £372,820NR