Director dealings: Mitie CEO-elect Bentley spends £3.6m on shares

New Mitie boss Phil Bentley, who takes over from Ruby McGregor-Smith next month, splashed the cash to lift the embattled facilities management group's shares sharply on Tuesday.

Bentley, who led turnarounds at Cable & Wireless and British Gas, bought £3.6m worth of shares in a ballsy display of confidence in the company, which was on Monday forced into its second profit warning in recent months.

Buying at an average price of 194.3156p later on Monday, he quickly saw a £140,000 profit as the share shot up 6% on Tuesday.

The purchase would only have made a dent in Bentley's savings, as when he oversaw the £7.4bn sale of Cable & Wireless to John Malone's Liberty Global last year he was reported to have netted a whopping £10m from his 5.3m shares and others in bonus schemes, not to mention his £2.4m annual pay package.

Monday's profit warning from Mitie resulted from increased cost and competitive pressures across the group, which led the FTSE 250 company to report a slide into losses in the first half and cut its dividend, together with making the decision to withdraw from the domiciliary healthcare market and place this business under strategic review with a sizeable balance sheet write-off.

Top Director Buys

Mitie Group (MTO)
Director name: Bentley,Phillip
Amount purchased: 1,852,656 @ 194.32p
Value: £3,599,999.41

Record (REC)
Director name: Hill,Leslie
Amount purchased: 281,957 @ 32.08p
Value: £90,455.19

Big Yellow Group (BYG)
Director name: Cotton ,Richard
Amount purchased: 10,000 @ 670.00p
Value: £67,000.00

Grafton Group Units (GFTU)
Director name: Crowley,Vincent C
Amount purchased: 8,000 @ 581.68p
Value: £46,534.53

Record (REC)
Director name: Noyen,Bob
Amount purchased: 90,315 @ 32.08p
Value: £28,974.13

Record (REC)
Director name: Wood-Collins,James
Amount purchased: 90,315 @ 32.08p
Value: £28,974.13

Templeton Emerging Markets Inv Trust (TEM)
Director name: Graham ,David
Amount purchased: 5,000 @ 567.00p
Value: £28,350.00

Record (REC)
Director name: Cullen,Steve
Amount purchased: 62,232 @ 32.08p
Value: £19,964.77

Speedy Hire (SDY)
Director name: Astrand,Jan G
Amount purchased: 30,000 @ 40.02p
Value: £12,006.00

Record (REC)
Director name: SLEIGH,JOEL
Amount purchased: 33,847 @ 32.08p
Value: £10,858.52

Speedy Hire (SDY)
Director name: Astrand,Jan G
Amount purchased: 20,000 @ 41.20p
Value: £8,240.00

Speedy Hire (SDY)
Director name: Astrand,Jan G
Amount purchased: 20,000 @ 40.32p
Value: £8,064.00

Speedy Hire (SDY)
Director name: Astrand,Jan G
Amount purchased: 20,000 @ 39.99p
Value: £7,998.00

Low & Bonar (LWB)
Director name: Schoolenberg ,Trudy
Amount purchased: 10,000 @ 68.50p
Value: £6,850.00

Cloudcall Group (CALL)
Director name: Cleaver,Simon
Amount purchased: 9,236 @ 54.00p
Value: £4,987.44

Low & Bonar (LWB)
Director name: Schoolenberg ,Trudy
Amount purchased: 5,342 @ 69.50p
Value: £3,712.69

Murray International Trust (MYI)
Director name: Hardie,David
Amount purchased: 98 @ 1,140.90p
Value: £1,118.08

Centaur Media (CAU)
Director name: Brankin,Grainne
Amount purchased: 360 @ 41.65p
Value: £149.94

Centaur Media (CAU)
Director name: Vidler ,Andria
Amount purchased: 360 @ 41.65p
Value: £149.94

Paypoint (PAY)
Director name: Alcraft,Lewis
Amount purchased: 12 @ 1,082.00p
Value: £129.84

Paypoint (PAY)
Director name: Marchant,Jon
Amount purchased: 12 @ 1,082.00p
Value: £129.84

Paypoint (PAY)
Director name: Earle,George
Amount purchased: 12 @ 1,082.00p
Value: £129.84

Paypoint (PAY)
Director name: Wilde,Katy
Amount purchased: 12 @ 1,082.00p
Value: £129.84

Paypoint (PAY)
Director name: Watkin-Rees,Tim
Amount purchased: 12 @ 1,082.00p
Value: £129.84

Paypoint (PAY)
Director name: Court,Susan
Amount purchased: 12 @ 1,082.00p
Value: £129.84

Paypoint (PAY)
Director name: Taylor,Dominic
Amount purchased: 12 @ 1,082.00p
Value: £129.84

On The Beach Group (OTB)
Director name: Vickerstaff,Kirsteen
Amount purchased: 43 @ 228.24p
Value: £98.14

General Electric Co (GEC)
Director name: Rice,John G.
Amount purchased: 32,000 @ n/a
Value: n/a

Top Director Sells

General Electric Co (GEC)
Director name: Rice,John G.
Amount sold: 15,345 @ $30.51
Value: $441,118.43