Director dealings: Tesco non-exec spends $45k on ADRs

Tesco shares were in the red on Friday afternoon, even after a non-executive director bought more than $45,000 of the retail giant’s American depositary receipts.

The company disclosed that Byron Grote purchased 18,000 ADRs on Thursday, for $3.04 each, in an over-the-counter (OTC) transaction in the US.

That valued the investment at a total of $45,122.45.

Tesco said each of its American depositary receipts is equivalent to three of its ordinary shares.

At 1231 BST, shares in Tesco were down 0.89% at 254.21p.

Reporting by Josh White at Sharecast.com.

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Tesco (TSCO)
Director name: Grote,Byron Elmer
Amount purchased: 18,000 @ $3.04
Value: $45,122.45

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