Director dealings: Leeds Group director ups stake
Leeds Group non-executive director Per Johan Claesson purchased 3.96m ordinary shares in the AIM-listed textile processing business from his brother Magnus on Tuesday.
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13:44 28/03/24
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09:14 28/03/24
Claesson, who joined the board of Leeds Group back in 2004, acquired the shares at an average price of 27.30p each, for a total value of £1.08m.
Given that Claesson made the purchase from his brother, the Swedish businessman and his associates' shareholding remains unchanged at 7.97m ordinary shares - or 29.20% of the company's total issued share capital.
Back in August, the fabric importer told investors its profits had taken a big hit from difficult trading conditions, increased competition and negative currency issues.
For the year ended 31 May, the firm saw its pre-tax profit drop 39% to £0.9m as a euro-denominated parent company loan to its German subsidiary Hemmers resulted in a currency loss of £49,000 compared to a £0.3m gain a year ago.
As was the case in 2017, the firm has opted not to propose a dividend. Net debt fell to £4.5m from £5.5m.
Meanwhile, group revenue increased by 1% to £41.54m as revenue from Hemmers increased by 2% to £38.3m in sterling terms but decreased by 9% to £3.2m for Chinoh-Tex, the group’s Shanghai-based subsidiary.
As of 1640 GMT, Leeds Group shares were untraded at 25p.
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Leeds Group (LDSG)
Director name: Claesson,Per Johan
Amount purchased: 3,967,150 @ 27.30p
Value: £1,083,031.96
Vpc Specialty Lending Investments (VSL)
Director name: Levy,Richard
Amount purchased: 72,943 @ 76.40p
Value: £55,728.45
Transgloble Energy Corporation Npv (di) (TGL)
Director name: Cook,David Bruce
Amount purchased: 32,289 @ $2.10
Value: $54,612.51
Audioboom Group (BOOM)
Director name: Tobin,Michael
Amount purchased: 952,380 @ 1.00p
Value: £9,523.80
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