Director dealings: LXB Retail's Kitchen sinks more cash into new strategy

LXB Retail Properties director Danny Kitchen has made his second purchase of shares this month, splashing out around £41,000.

Kitchen, a non-executive director of the company, purchased 60,984 shares in the company at a price of 67p per share.

This followed a purchase of 72,660 shares at 64.37p on 8 June and 21,356 at 64.98p on 9 June.

Earlier this week, fellow independent director Steve Webb bought 75,661 at 66p.

Kitchen, who is chairman of Workspace Group and ex of Heron International and Green Property, dipped into the market as the closed-ended real estate investment company, which is focused on edge-of-town and out-of-town retail assets, provided an update to the market last Wednesday.

Shareholders in February voted through a major change in the group's strategy, choosing to no longer invest in new projects and change the whole focus on realising value from the investment portfolio and returning capital as quickly as possible.

The company said last week had agreed a number of pre-lets at its Greenwich, Sheppey, Stafford and Rushden Lakes sites.

Interim results on 1 June showed net asset value down to 102.18p at 31 March from 103.27p at the end of 2015.

Top Director Buys

Lxb Retail Properties (LXB)
Director name: Kitchen,Daniel (Danny) John
Amount purchased: 60,984 @ 67.00p
Value: £40,859.28

Chemring Group (CHG)
Director name: Forster,Carl-Peter
Amount purchased: 20,000 @ 118.69p
Value: £23,738.00

Reconstruction Capital Ii Ltd. (RC2)
Director name: Radoi,Mihai
Amount purchased: 100,000 @ € 0.22
Value: € 22,000.00

Record (REC)
Director name: Cullen,Steve
Amount purchased: 81,591 @ 26.10p
Value: £21,295.25

Palace Capital (PCA)
Director name: Dove,Anthony C.
Amount purchased: 2,000 @ 363.75p
Value: £7,275.00

Barr (a.g.) (BAG)
Director name: Memmott,Andrew Lewis
Amount purchased: 59 @ 526.84p
Value: £310.84

Wireless Group (WLG)
Director name: Taunton,Scott
Amount purchased: 90 @ 166.50p
Value: £149.85

Wireless Group (WLG)
Director name: McKeown,Norman
Amount purchased: 90 @ 166.50p
Value: £149.85

Paypoint (PAY)
Director name: Watkin-Rees,Tim
Amount purchased: 13 @ 988.50p
Value: £128.51

Paypoint (PAY)
Director name: Earle,George
Amount purchased: 13 @ 988.50p
Value: £128.51

Paypoint (PAY)
Director name: Taylor,Dominic
Amount purchased: 12 @ 988.50p
Value: £118.62

Top Director Sells

Babcock International Group (BAB)
Director name: Bethel,Archie
Amount purchased: 35,667 @ 997.10p
Value: £355,635.65

Babcock International Group (BAB)
Director name: Martinelli ,Franco
Amount purchased: 21,183 @ 997.10p
Value: £211,215.69

Dragon-ukrainian Properties & Development (DUPD)
Director name: Fiala,Tomas
Amount purchased: 8,000 @ 12.65p
Value: £1,012.00

Dragon-ukrainian Properties & Development (DUPD)
Director name: Fiala,Tomas
Amount purchased: 4,321 @ 12.57p
Value: £542.93