Baker Steel Resources Trust Ltd. (BSRT)

Sector:

Investment Firms

Index:

FTSE Fledgling

 62.25p
   
  • Change Today:
      0.000p
  • 52 Week High: 67.25
  • 52 Week Low: 43.80
  • Currency: UK Pounds
  • Shares Issued: 116.12m
  • Volume: 19,834
  • Market Cap: £72.28m

Faroe FD buys ahead of rights issue

Date: Thursday 29 Apr 2010

LONDON (ShareCast) - Faroe Petroleum’s finance director Iain Lanaghan bought shares prior to them going ex-rights.

The oil and gas explorer and producer is raising £69.8m via a two-for-three rights issue at 100p a share. Faroe will receive £65.1m after expenses and this will take its net cash to nearly £90m.

Lanaghan bought 39,290 shares at 125p each at a total cost of just over £49,000. The purchase was on 27 April, which was the day of the results and rights issue announcement. The shares went ex-rights on 28 April.

This is a strange number of shares to buy given the rights issue terms because it is not divisible by three. Lanaghan will have the right to subscribe for 26,193 rights shares at a total cost of £26,193.

Faroe will spend its cash on drilling eight new wells over the next two years as well as enhancing existing reserves and increasing production. Faroe will also apply for more exploration licences in the UK, Norway and Greenland. Faroe could also farm-in to existing wells in the North Sea.

Faroe made discoveries at Glenlivet and Tornado in UK waters in 2009 and earlier this year made a further discovery in the Norwegian sector of the North Sea at Fogelberg.

Faroe’s revenues increased from £2.28m to £7m in 2009. The post-tax loss fell from £20.61m to £6.91m – after a £17.7m gain on the sale of its interest in the Breagh field. There are accumulated tax losses of more than £50m.


Top Director Buys

Baker Steel Resources Trust (BSRT)
Director name: Mr Edward Flood
Amount purchased: 65,000 @ 100.00p
Value: £65,000

Faroe Petroleum (FPM)
Director name: Mr Iain M Lanaghan
Amount purchased: 39,290 @ 125.00p
Value: £49,112

Inland (INL)
Director name: Mr Nishith Motilal Meghji Malde
Amount purchased: 150,000 @ 19.32p
Value: £28,980

Baker Steel Resources Trust (BSRT)
Director name: Mr Clive Newall
Amount purchased: 25,000 @ 100.00p
Value: £25,000

Baker Steel Resources Trust (BSRT)
Director name: Mr Christopher Sherwell
Amount purchased: 25,000 @ 100.00p
Value: £25,000

AI Claims Solutions (ACS)
Director name: Mr Robert Newton
Amount purchased: 100,000 @ 21.75p
Value: £21,750

Corac Group (CRA)
Director name: Mr Philip Cartmell
Amount purchased: 100,000 @ 21.50p
Value: £21,500

Informa (INF)
Director name: Dr Brendan Richard O'Neill
Amount purchased: 4,000 @ 391.39p
Value: £15,656

Corac Group (CRA)
Director name: Professor Gerry Musgrave
Amount purchased: 75,000 @ 20.83p
Value: £15,622


Top Director Sells

AI Claims Solutions (ACS)
Director name: Mr David Sandhu
Amount sold: 97,333 @ 21.75p
Value: £21,170

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Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

 

BSRT Market Data

Currency UK Pounds
Share Price 62.25p
Change Today 0.000p
% Change 0.00 %
52 Week High 67.25
52 Week Low 43.80
Volume 19,834
Shares Issued 116.12m
Market Cap £72.28m

BSRT Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value
6.65% above the market average6.65% above the market average6.65% above the market average6.65% above the market average6.65% above the market average
13.43% below the sector average13.43% below the sector average13.43% below the sector average13.43% below the sector average13.43% below the sector average
Price Trend
74.17% above the market average74.17% above the market average74.17% above the market average74.17% above the market average74.17% above the market average
83.93% above the sector average83.93% above the sector average83.93% above the sector average83.93% above the sector average83.93% above the sector average
Income Not Available
Growth
85.45% below the market average85.45% below the market average85.45% below the market average85.45% below the market average85.45% below the market average
79.82% below the sector average79.82% below the sector average79.82% below the sector average79.82% below the sector average79.82% below the sector average

BSRT Dividends

No dividends found

Trades for 30-Oct-2020

Time Volume / Share Price
16:28 19,834 @ 60.50p

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