Chairman's wife buys Redrow shares

Redrow chairman Steve Morgan's wife has bought 100,000 shares in the housebuilder taking their combined stake to 29.95%.

Fiona Morgan paid 131.5p a share for the 100,000 shares. The total cost was £131,500.

Morgan founded Redrow in 1974 and floated the company 20 years later. He also owns Wolverhampton Wanderers Football Club, whose squad includes former Gillingham FC winger Matt Jarvis.

Last week, Redrow reported a 25% increase in interim revenues to £187.2m. The reported loss fell by 81% to £8.7m in the six months to December 2009.

Last autumn, Redrow raised £150m from a 13-for-14 rights issue at 105p a share. Net debt was £49.3m at the end of 2009. The net asset value is 141p a share.

Redrow says it has the appropriate capital structure in place but the market remains fragile.


Top Director Buys

Redrow (RDW)
Director name: Mr Steve Morgan
Amount purchased: 100,000 @ 131.50p
Value: £131,500

Informa (INF)
Director name: Mr Adam Walker
Amount purchased: 22,000 @ 350.89p
Value: £77,196

WSP Group (WSH)
Director name: Mr Peter R Gill
Amount purchased: 24,833 @ 279.78p
Value: £69,478

Education Development International (EDD)
Director name: Mr Richard Price
Amount purchased: 50,000 @ 136.00p
Value: £68,000

Absolute Return Trust GBP Shares (ABR)
Director name: Mr Robin Rumboll
Amount purchased: 25,000 @ 119.00p
Value: £29,750

e-Therapeutics (ETX)
Director name: Mr John Cordiner
Amount purchased: 67,376 @ 40.50p
Value: £27,287

Goals Soccer Centres (GOAL)
Director name: Mr Graham Wilson
Amount purchased: 10,000 @ 150.00p
Value: £15,000

RM Group (RM.)
Director name: Mr Rob Sirs
Amount purchased: 8,194 @ 173.25p
Value: £14,196

Brewin Dolphin (BRW)
Director name: Mr Jamie Matheson
Amount purchased: 11,379 @ 121.00p
Value: £13,769

Brit Insurance Holdings NV (BRE)
Director name: Mr Kenneth Culley
Amount purchased: 1,647 @ 739.13p
Value: £12,173


Top Director Sells

Diageo (DGE)
Director name: Mr Paul S Walsh
Amount sold: 99,000 @ 1,088.00p
Value: £1,077,120

Rio Tinto (RIO)
Director name: Mr Guy R Elliott
Amount sold: 19,495 @ 3,460.00p
Value: £674,527

Intercede Group (IGP)
Director name: Mr Richard Arthur Parris
Amount sold: 1,000,000 @ 42.50p
Value: £425,000

Carnival (CCL)
Director name: Mr Peter Ratcliffe
Amount sold: 11,465 @ 2,262.58p
Value: £259,405

Education Development International (EDD)
Director name: Sir Bryan Nicholson
Amount sold: 250,000 @ 136.00p
Value: £340,000

RSA Insurance Group (RSA)
Director name: Mr George Culmer
Amount sold: 211,883 @ 128.07p
Value: £271,359

Rathbone Brothers (RAT)
Director name: Mr Richard P Lanyon
Amount sold: 20,000 @ 825.00p
Value: £165,000

Bunzl (BNZL)
Director name: Mr Patrick Larmon
Amount sold: 23,504 @ 691.11p
Value: £162,438

Bunzl (BNZL)
Director name: Mr Brian May
Amount sold: 20,542 @ 691.11p
Value: £141,968

Centrica (CNA)
Director name: Mr Mark Hanafin
Amount sold: 41,657 @ 282.30p
Value: £117,598