Director dealings: Round Hill's brand new chair picks up 100,000 shares

Round Hill Music Royalty Fund was among the list of director deals on Wednesday, after its new chair was linked to the purchase of 100,000 shares.

The music rights investor said independent non-executive chairman Rob Naylor and Annie Naylor each picked up 50,000 shares on Tuesday, in single transactions on the London Stock Exchange.

Both paid 67p for each share, valuing the transactions at £40,625.45 each.

Round Hill Music described Annie Naylor as a “person closely associated” with Rob Naylor, adding that after the purchases, the chair and his associates would hold 100,000 of its shares, representing 0.025% of its issued capital.

The company’s board had announced on Tuesday that Trevor Bowen was stepping down from his role as chairman and as a non-executive director with immediate effect.

“Upon taking on the role of chairman, Trevor's core objective was to obtain a listing on the premium segment of the main market of the London Stock Exchange for the company,” the firm said in its statement.

“In helping to secure this, Trevor believes it is an opportune time to step aside and hand over his role.”

Round Hill therefore announced the appointment of Rob Naylor as chairman and as a non-executive director with immediate effect on Tuesday.

“Robert has over 25 years' experience in capital markets and investment trusts.

“A qualified chartered accountant, having started his career with Ernst & Young in 1996, Robert has held various positions within JP Morgan Asset Management, Panmure Gordon UK and Cenkos Securities.

“Rob is currently chief executive officer of Intuitive Investments Group, an AIM-quoted investment company, providing investors with exposure to a portfolio concentrating on fast growing life sciences businesses.”

At 1518 GMT, shares in Round Hill Music Royalty Fund were flat at 0.77p.

Reporting by Josh White for Sharecast.com.

Top Director Buys

Round Hill Music Royalty Fund Limited Npv (RHM)
Director name: Naylor,Robert (Rob) Graham
Amount purchased: 50,000 @ 67.00p
Value: £40,625.45

Round Hill Music Royalty Fund Limited Npv (RHM)
Director name: Naylor,Robert (Rob) Graham
Amount purchased: 50,000 @ 67.00p
Value: £40,625.45

1spatial (SPA)
Director name: Milverton,Claire
Amount purchased: 44,128 @ 45.30p
Value: £19,989.98

Diverse Income Trust (the) (DIVI)
Director name: Kemsley-Pein,Caroline
Amount purchased: 14,169 @ 87.55p
Value: £12,404.90

Metalnrg (MNRG)
Director name: Gerritsen,Rolf
Amount purchased: 4,681,733 @ 0.08p
Value: £3,824.98

Metalnrg (MNRG)
Director name: Gerritsen,Rolf
Amount purchased: 601,983 @ 0.08p
Value: £487.61