Director Deal

lse:inl

#1

Nishith Malde, Financial Director, bought 90,000 shares in the company on the 17th July 2017 at a price of 58.62p. The Director now holds 11,360,029 shares.

Not quite sure what to make of that, except presumably he doesn’t mind sinking over 50 grand in at a price of @58.62p so we must assume he thinks he’s going to make a few percent a year on that at least, and not lose capital value.

When he already holds 11,360,029 in total though, it seems pretty insignificant. As far as I can tell, this is an open market buy, not part of some remuneration package, and £50k isn’t a piffling amount even if you are relatively wealthy.

I’ve been trying to sell a tranche of INL @62p for quite some time, to reduce the size of my holding as much as anything, and having bought the last lot mid 50s (can’t remember exactly, but documented below no doubt). I’d just reduced the selling price to 61.8p to give a better chance of catching an intraday high on a limit order, I think I’ll push it back up now, having seen this!


#2

Strange that this buy has been reported again today on ii. Perhaps someone in the company is as far underwater as I am here!

" By StockMarketWire | Tue, 18th July 2017 - 09:00

Nishith Malde, Financial Director, bought 90,000 shares in the company on the 17th July 2017 at a price of 58.62p. The Director now holds 11,360,029 shares.

NOTE: Average price" <— Strange to add that to the note also, it is unusual.

I’ve had a limit order set to sell a tranche and a few more shares I bought at around @54p ever since the RNS was released about that buy in order to reduce my overall exposure - to no avail as yet …

Eadwig


#3

Eadwig, “I’ve had a limit order set to sell a tranche and a few more shares I bought at around @54p ever since the RNS was released about that buy in order to reduce my overall exposure - to no avail as yet …”

I took @57.7p on Friday in the end. Not as much as I wanted, but I needed to free up some cash and reduce my overall holding in INL.

Although I made a profit on that tranche, even when putting that profit against my holding price I’m still underwater with an average back up to around @64p now. That’s better than it was in the past, but trading the price down has been a long and hard struggle.

I still need to unload another tranche to get my book value holding down to a level I’m more comfortable with. The next tranche has an average of about @57p book value and I have an optimistic @61p limit order set for the next 90 days.

I think INL will do alright in the longer-term, but I’ve had too much cash tied up here for too long now having bought too high initially, and really need to move on to brighter prospects.

Eadwig


#4

i was hoping to see a bounce to match MJGleeson yesterday, after their optimistic statement; INL operate in a similar market style/place, although obviously more regional and smaller. Like you, holding a bit too much (in my SIPP) and not enough GLE…still worried about their move to in-house construction.


#5

dazed&confused, "still worried about their move to in-house construction. "

Yes. Changing your business model seems like something of an over-reaction to being let down by one contractor, no matter how much trouble it caused.

There’s good reasons why even the biggest builders use mainly contractors …