Cambian Group chief tries to reignite confidence in company

Cambian Group’s chief executive officer is doing his bit to give investors confidence in the company.

The value of the shares has dropped over 45% since the company issued a trading update on 22 October.

The behavioural health services company said it believes that underlying EBITDA for the year to 31 December will be no less than £54m, representing growth of 7.5% from last year, and adjusted EBITDA for the year will be no less than £49m compared to £48.4m in 2014.

The new forecasts were due to a significant increase in organic investment in new places, with the company looking to spend £50m in capital expenditure in the year.

However that resulted in increased development losses as well as the impact of staff vacancies which has reduced the number of admissions in the group’s Schools and Children's Services.

But chief executive Saleem Asaria is trying to show investors he can turn things around, by stumping up just under £0.2m to buy 130,000 shares.

At 1453 GMT, the shares were down 0.25p (0.17%) to 148p per share.

Top Director Buys

Cambian Group (CMBN)
Director name: Mr Saleem Asaria
Amount purchased: 130,000 @ 151.96p
Value: £197,548

International Personal Finance (IPF)
Director name: Mr Anthony (Tony) J Hales
Amount purchased: 25,000 @ 379.86p
Value: £94,965

International Personal Finance (IPF)
Director name: Mr Anthony (Tony) J Hales
Amount purchased: 25,000 @ 379.86p
Value: £94,965

Safestyle UK (SFE)
Director name: Mr Stephen John Birmingham
Amount purchased: 40,000 @ 218.20p
Value: £87,280

International Personal Finance (IPF)
Director name: Ms Jayne Almond
Amount purchased: 20,000 @ 379.00p
Value: £75,800

SQN Asset Finance Income Fund Limited C SHS NPV (SQNC)
Director name: Mr Peter Niven
Amount purchased: 20,000 @ 100.00p
Value: £20,000

SQN Asset Finance Income Fund Limited C SHS NPV (SQNC)
Director name: Mrs Carol P Goodwin
Amount purchased: 15,000 @ 100.00p
Value: £15,000

SQN Asset Finance Income Fund Limited C SHS NPV (SQNC)
Director name: Mr Christopher Spencer
Amount purchased: 10,000 @ 100.00p
Value: £10,000

Top Director Sells

International Personal Finance (IPF)
Director name: Mr David Broadbent
Amount sold: 50,000 @ 375.00p
Value: £187,500