Director dealings: Altitude CEO tops up as shares regain heights

IT and technology service provider Altitude Group's chief executive and chairman have bought shares in the company as a recent restructuring helped boost the stock back to levels not seen since early last year.

Chief executive Martin Varley late last week spent around £60,000 as he purchased 40,000 shares at a price of 16p and 360,000 at a price of 16.65p to take his holding to 12.55m, or 29.24% of the company's total.

Meanwhile, chairman Peter Hallett snapped up his first 5,000 shares in the company at a price of 16.41p.

A trading update earlier in the month revealed the benefits of the significant restructuring and the resulting annualised cost reduction of circa £1.8m were coming through as planned in recent months.

"The pipeline of opportunities in the technology business is growing strongly as the capabilities of the group's integrated proprietary applications gain wider understanding and traction, particularly in the US. The partnership with Aprinta in the US, announced on 14 June 2016, is on plan for launch by the final quarter of this year," the company said.

Top Director Buys

Altitude Group (ALT)
Director name: Varley,Martin Roy
Amount purchased: 360,000 @ 16.65p
Value: £59,940.00

Qinetiq Group (QQ.)
Director name: Brubaker,Lynn
Amount purchased: 12,000 @ 225.93p
Value: £27,111.99

Amino Technologies (AMO)
Director name: Todd,Keith
Amount purchased: 8,975 @ 146.25p
Value: £13,125.94

Fox Marble Holdings (FOX)
Director name: Albani,Etrur
Amount purchased: 115,827 @ 10.00p
Value: £11,582.70

Fox Marble Holdings (FOX)
Director name: Gilbert,Christopher
Amount purchased: 105,694 @ 10.00p
Value: £10,569.40

Zegona Communications (ZEG)
Director name: Kalika,Howard
Amount purchased: 8,850 @ 112.97p
Value: £9,997.84

Fox Marble Holdings (FOX)
Director name: Allner,Andrew
Amount purchased: 79,500 @ 10.00p
Value: £7,950.00

Fox Marble Holdings (FOX)
Director name: Arthur Jourdan,Paul
Amount purchased: 75,000 @ 10.00p
Value: £7,500.00

Altitude Group (ALT)
Director name: Varley,Martin Roy
Amount purchased: 40,000 @ 16.00p
Value: £6,400.00

Fox Marble Holdings (FOX)
Director name: Terry ,Colin
Amount purchased: 45,000 @ 10.00p
Value: £4,500.00

Fox Marble Holdings (FOX)
Director name: Harrison,Roy
Amount purchased: 41,250 @ 10.00p
Value: £4,125.00

Altitude Group (ALT)
Director name: Hallett,Peter
Amount purchased: 5,000 @ 16.41p
Value: £820.50

Maintel Holdings (MAI)
Director name: Stevens,Kevin
Amount purchased: 17 @ 882.00p
Value: £149.94

Maintel Holdings (MAI)
Director name: Legg,Stuart
Amount purchased: 17 @ 882.00p
Value: £149.94

Top Director Sells

Vp (VP.)
Director name: Stothard,Neil A
Amount sold from LTIP options: 107,986 @ 692.50p
Value: £747,803.07