International Personal Finance chief helps shares recover after Slovakia news

Shares tanked on Friday after the company said it could be hurt by new legislation in Slovakia.

On Wednesday, the Slovak parliament voted to adopt previously undiscussed proposals to amend various pieces of consumer legislation, including changes to the Civil Code prohibiting contracts for ancillary services that relate to the customer’s fulfilment of an underlying agreement.

IPF said it was reviewing the draft amendments to assess the extent to which its product structure would be affected by the proposed changes.

The draft proposal will now go to the Prime Minister for formal signature and then to the President for approval.

Chief executive Gerard Ryan showed he has faith the company can get through it by stumping up just under £0.3m to purchase 100,000 shares.

That takes his total holding in the company to 541,294 shares – a 0.25% stake.

Top Director Buys

International Personal Finance (IPF)
Director name: Mr Gerard Ryan
Amount purchased: 100,000 @ 292.00p
Value: £292,000

John Laing Group (JLG)
Director name: Dr Philip Nolan
Amount purchased: 100,000 @ 202.25p
Value: £202,250

Eastern European Property Fund Ltd. (EEP)
Director name: Mr Martin Michael Adams
Amount purchased: 200,000 @ 50.15p
Value: £100,300

Top Director Sells

Impellam Group (IPEL)
Director name: Mr Derek O'Neill
Amount sold: 300,000 @ 800.00p
Value: £2,400,000

OMG (OMG)
Director name: Mr David Deacon
Amount sold: 678,590 @ 45.00p
Value: £305,366

OMG (OMG)
Director name: Mr Nicholas Paul Bolton
Amount sold: 617,221 @ 45.00p
Value: £277,749

Scapa Group (SCPA)
Director name: Mr Richard John Perry
Amount sold: 50,000 @ 205.50p
Value: £102,750

OMG (OMG)
Director name: Mr Catherine Robertson
Amount sold: 147,600 @ 45.00p
Value: £66,420