XP Power Chairman buys up 4,000 shares

11th May 2012 16:34

Larry Tracey, the Chairman of power controller manufacturer XP Power, treated himself to 4,000 shares in the company, despite the company last month warning that the global economic environment remains weak for the equipment which they manufacture.Tracey, who joined XP's board 22 years ago, bought himself £47,000-worth of shares at 1,175p each, increasing his stake in the company to 7.97%, equal to more than 1.5m shares. In its April statement the company cautioned investors that it currently anticipates that 2012 will be a flat revenue year following the past two years of strong industry growth.The firm explained that because order intake in the first quarter of 2012 has been stronger than that experienced in the final quarter of 2011, it therefore expects stronger revenues in the second quarter of 2012, offsetting a 10% fall in revenues during the first three months of the year. Top Director BuysBG Group (BG.) Director name: Mr Andrew F J GouldAmount purchased: 30,000 @ 1,331.00p Value: £399,300Sierra Rutile Ltd (SRX) Director name: Mr Jan Alex CastroAmount purchased: 152,000 @ 60.75p Value: £92,340Beazley (BEZ) Director name: Mr Dennis HoltAmount purchased: 50,000 @ 141.00p Value: £70,500Sierra Rutile Ltd (SRX) Director name: Mr Michael BrownAmount purchased: 100,000 @ 58.80p Value: £58,800Cape (CIU) Director name: Mr Brendan ConnollyAmount purchased: 8,450 @ 355.00p Value: £29,998Old Mutual (OML) Director name: Mr Roger Marshall Amount purchased: 10,000 @ 145.70p Value: £14,570Global Petroleum Ltd. (GBP) Director name: Mr Peter BlakeyAmount purchased: 76,213 @ 14.75p Value: £11,241Witan Inv Trust (WTAN) Director name: Mr Robert W BoyleAmount purchased: 2,455 @ 456.50p Value: £11,207Top Director SellsNorthacre (NTA) Director name: Mr Klas B NilssonAmount sold: 60,000 @ 70.00p Value: £42,000Pendragon (PDG) Director name: Ms Hilary Claire SykesAmount sold: 168,496 @ 14.88p Value: £25,072