Vislink chairman buys shares as results disappoint

2nd Sep 2014 16:34

The executive chairman of AIM-listed Vislink has shown his faith in the group after it disappointed with mixed interim results. John Hawkins purchased 95,157 shares at an average price of 47.29p, taking his interest in the group to 309,279. Ian Davies, the group's finance director, also added shares, increasing his stake by half with the purchase of 50,000 shares at an average price of 45.35p each. The results were counterbalanced to a large extent by the announcement that Nasdaq-listed video group Harmonic has become a strategic partner and provided a significant order that will be charged in the second half of the year. Harmonic, which specialises in video delivery infrastructure for emerging television and video services, has placed a £2m initial order to secure product for sale in its integrated packages.Harmonic has also subscribed for 4m newly issued shares in Vislink at 50p apiece, giving it a 3.26% stake in the company.However, the first half of the year saw adjusted profit before tax down 15% to £1.7m, although ahead 3% in constant currency, reflecting a mixed performance as an uncertain broadcast market and delayed surveillance contracts hit the hardware division although its Pebble Beach software division performed ahead of expectations. Hawkins spent a total of £44,500 on the purchase. Top Director BuysBritish Sky Broadcasting Group (BSY) Director name: Mr Jeremy DarrochAmount purchased: 57,419 @ 881.00p Value: £505,861Sirius Minerals (SXX) Director name: Mr Russell Scrimshaw Amount purchased: 2,100,000 @ 11.75p Value: £246,750British Sky Broadcasting Group (BSY) Director name: Mr Andrew GriffithAmount purchased: 26,993 @ 881.00p Value: £237,808Symphony International Holdings Ltd. (SIHL) Director name: Mr Anil ThadaniAmount purchased: 120,000 @ $0.78 Value: $93,300Symphony International Holdings Ltd. (SIHL) Director name: Mr Sunil ChandiramaniAmount purchased: 90,000 @ $0.78 Value: $69,975Artilium (ARTA) Director name: Mr Jan-Paul Willem MenkeAmount purchased: 909,091 @ 5.50p Value: £50,000Vislink (VLK) Director name: Mr John E HawkinsAmount purchased: 95,157 @ 47.29p Value: £45,000Vislink (VLK) Director name: Mr Ian DaviesAmount purchased: 50,000 @ 45.35p Value: £22,675Artilium (ARTA) Director name: Mr Bart WeijermarsAmount purchased: 363,633 @ 5.50p Value: £20,000Electrocomponents (ECM) Director name: Mr John Pattullo Amount purchased: 6,344 @ 244.07p Value: £15,484NR