Director dealings: Venn Life Sciences chairman sees value

Venn Life Sciences chairman Allan Wood bought £50,000 worth of the contract clinical research provider's shares, it was revealed on Wednesday.

Wood picked up 230,000 shares in two purchases at an average price of 21.67p.

Shares in the AIM-listed company have drifted since interim results at the end of September, having skimmed near 12-month highs in the weeks before, with the sale of the InnoVenn innovation division for £4.7m in October not particularly well received by the market.

Sales in the first half of the year were more than doubled to €9.06m thanks to good contract wins and the impact of the Kinesis acquisition, while operating losses shrank to €0.03m from €0.08m the year before and there was over €2m cash in the bank as of 23 September.

Venn reported a strong pipeline of projects into the second half of the year, with average project size continuing to increase, including for example a €2.8m contract with a biotech client in Europe, while its Interactive Response Technology (IRT) department also qualified as a service provider to a top-ten pharma and was awarded an initial project involving thirty sites in China.

Wood and canny chief executive Tony Richardson, who hoped the innovation sale would help investors better perceive the value of the core business, are eyeing acquisitions in what is a fragmented market, particularly in Central and Eastern Europe.

For the full year, broker Hybridian forecasts revenues of €17.03m, €1.6m of profit before tax, amortisation and exceptionals and earnings of €0.016 per share.

Top Director Buys

Venn Life Sciences Holdings (VENN)
Director name: Wood,Allan
Amount purchased: 165,000 @ 21.73p
Value: £35,854.50

Surgical Innovations Group (SUN)
Director name: Rogers,Nigel
Amount purchased: 480,000 @ 3.13p
Value: £15,009.60

Surgical Innovations Group (SUN)
Director name: Rogers,Nigel
Amount purchased: 480,000 @ 3.13p
Value: £15,009.60

Venn Life Sciences Holdings (VENN)
Director name: Wood,Allan
Amount purchased: 65,000 @ 21.50p
Value: £13,975.00

Equiniti Group (EQN)
Director name: Wakeley,Guy
Amount purchased: 5,128 @ 195.00p
Value: £9,999.60

Schroder Uk Mid Cap Fund (SCP)
Director name: Rickman,Robert
Amount purchased: 2,265 @ 429.75p
Value: £9,733.84

Rathbone Brothers (RAT)
Director name: Chavasse,Paul D G
Amount purchased: 813 @ 1,106.00p
Value: £8,991.78

Surgical Innovations Group (SUN)
Director name: Rogers,Nigel
Amount purchased: 247,031 @ 3.13p
Value: £7,724.66

Active Energy Group (AEG)
Director name: Rowan ,Michael
Amount purchased: 160,000 @ 2.90p
Value: £4,640.00

Active Energy Group (AEG)
Director name: Evans-Jones,Brian
Amount purchased: 150,000 @ 2.86p
Value: £4,290.00

Paragon Entertainment Ltd (di) (PEL)
Director name: Pyrah,Mark Colin
Amount purchased: 78,654 @ 2.52p
Value: £1,982.08

Active Energy Group (AEG)
Director name: Spinks,Richard George
Amount purchased: 63,000 @ 3.00p
Value: £1,890.00

Jpmorgan American Inv Trust (JAM)
Director name: Bragg,Simon
Amount purchased: 360 @ 351.48p
Value: £1,265.33

Great Portland Estates (GPOR)
Director name: Courtauld,Toby
Amount purchased: 26 @ 585.64p
Value: £152.27

Great Portland Estates (GPOR)
Director name: Thompson,Neil
Amount purchased: 26 @ 585.64p
Value: £152.27

Great Portland Estates (GPOR)
Director name: Sanderson,Nick
Amount purchased: 26 @ 585.64p
Value: £152.27

Centrica (CNA)
Director name: Hanafin,Mark
Amount purchased: 70 @ 214.70p
Value: £150.29

Miton Group (MGR)
Director name: Williams,Gervais
Amount purchased: 498 @ 30.13p
Value: £150.02

Miton Group (MGR)
Director name: Chimes,Ian Michael
Amount purchased: 498 @ 30.13p
Value: £150.02

Premier Oil (PMO)
Director name: Rose ,Richard
Amount purchased: 221 @ 67.75p
Value: £149.73

Lsl Property Services (LSL)
Director name: Crabb,Ian
Amount purchased: 76 @ 197.00p
Value: £149.72

Lsl Property Services (LSL)
Director name: Gill,Adrian
Amount purchased: 76 @ 197.00p
Value: £149.72

Lsl Property Services (LSL)
Director name: Castleton ,Adam
Amount purchased: 76 @ 197.00p
Value: £149.72

Centrica (CNA)
Director name: Hodges,Mark
Amount purchased: 69 @ 214.70p
Value: £148.14

Premier Oil (PMO)
Director name: Allan,Robin
Amount purchased: 185 @ 67.75p
Value: £125.34

Premier Oil (PMO)
Director name: Durrant ,Tony
Amount purchased: 185 @ 67.75p
Value: £125.34

Top Director Sells

Surgical Innovations Group (SUN)
Director name: Rogers,Nigel
Amount sold: 723,222 @ 3.13p
Value: £22,600.69

Surgical Innovations Group (SUN)
Director name: Rogers,Nigel
Amount sold: 483,809 @ 3.13p
Value: £15,119.03