Director dealings: Conygar pair go bargain hunting

Two directors of property investor Conygar have dipped into the market after shares in the developer fell close to a three-year low.

Real Estate Investment & Services

2,354.65

16:38 14/11/24

2.23%

51.27

Chairman Nigel Hamway spent roughly £108,000 at a price of 134.8p and corporate director Preston Rabl, one of the founders of WPP, spent £54,000 at the same price.

Since the start of the year Conygar's shares have fallen from above 171p to as low as 127.5p earlier in July with the bulk of the slide in June as the UK went to the polls for the EU referendum.

Interim results released in May showed the company's portfolio of had a net asset value per share of 201.0p, with EPRA NAV per share standing at 203.2p at the 31 March half-year point.

At the time, the board said Conygar's development pipeline was advancing, with infrastructure works in Haverfordwest completed and "significant progress" being made on the approvals for the other projects.

There was total cash available for acquisitions and development funding of £60m after the refinancing in April, with net debt of £27.2m after the refinancing, representing gearing of 17.5% against net asset value and 21.4% on loan to value basis.

Top Director Buys

Conygar Investment Company (CIC)
Director name: Hamway,Nigel J
Amount purchased: 80,000 @ 134.80p
Value: £107,840.00

Conygar Investment Company (CIC)
Director name: Rabl ,Preston
Amount purchased: 40,000 @ 134.80p
Value: £53,920.00

Workspace Group (WKP)
Director name: Hubbard,Stephen
Amount purchased: 7,140 @ 691.86p
Value: £49,398.55

Dixons Carphone (DC.)
Director name: Morgan of Huyton,Baroness
Amount purchased: 7,000 @ 330.00p
Value: £23,100.00

President Energy (PPC)
Director name: Levine,Peter M
Amount purchased: 150,000 @ 7.88p
Value: £11,812.50

Scs Group (SCS)
Director name: Smith,Alan
Amount purchased: 6,667 @ 150.00p
Value: £10,000.50

Lloyds Banking Group (LLOY)
Director name: Horta-Osorio,Antonio
Amount purchased: 3,377 @ 55.94p
Value: £1,889.09

Sig (SHI)
Director name: Robertson,Douglas
Amount purchased: 140 @ 107.38p
Value: £150.33

Sig (SHI)
Director name: Mitchell,Stuart
Amount purchased: 139 @ 107.38p
Value: £149.26

Balfour Beatty (BBY)
Director name: Quinn,Leo
Amount purchased: 68 @ 219.00p
Value: £148.92

Petrofac Ltd. (PFC)
Director name: Weller,TimÂ
Amount purchased: 16 @ 799.00p
Value: £127.84