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Director dealings: Genus announces new CEO's compensation, AstraZeneca chair spends £0.23m

(Sharecast News) - Livestock genetics company Genus saw its shares weaken on Tuesday afternoon after it announced the agreed reward arrangements for its incoming CEO, Jorgen Kokke. Under the shareholder-approved remuneration policy, Kokke would receive a basic annual salary of $825,000, along with a pension contribution worth 6% of his salary.

Additionally, he would receive payments of £4m, mostly in Genus share awards, as compensation for incentives he held at his previous company, Ingredion.

He would also be eligible for an annual bonus of up to 200% of his salary, with one-third of any bonus paid deferred into shares, and a long-term incentive award of 400% of his salary in September, subject to performance targets and a two-year holding period.

At 1301 BST, shares in Genus were down 0.22% at 2,682p.

K3 Business Technology Group, meanwhile, was in the red after Kestrel Partners acquired 76,564 ordinary shares at an average price of £1.10 per share on 21 April.

Kestrel is indirectly holding voting rights over 26.4% of the company's issued share capital.

On 28 April, Kestrel acquired an additional 2,027 shares at an average price of £1.10 apiece, increasing its indirect voting rights to 26.41% of the company's issued share capital.

K3 said non-executive director Oliver Scott is a partner of Kestrel, and holds a beneficial interest in one of Kestrel's clients, which was deemed to have a beneficial interest in Kestrel's entire legal holding in the company.

At 1052 BST, shares in K3 Business Technology Group were down 2.22% at 110p.

Pharmaceuticals giant AstraZeneca was also in focus after its non-executive chair Michel Demaré purchased 2,000 of its ordinary shares on 28 April, at a price of £117.01 per share, for a total value of £234,020.

At 1307 BST, shares in AstraZeneca were down 0.14% at 11,730p.

Finally, ix Net Zero, an investing company focusing on energy transition and sustainability in the built environment, saw its shares slide despite one of its non-executive directors, Patricia McCall, buying 20,000 shares on 28 April.

McCall paid 13p per share, for a total value of £2,600.

Following this purchase, McCall owned 63,139 ordinary shares, representing 0.1% of the company's shares in issue.

At 1231 BST, shares in ix Net Zero were down 10.42% at 16.12p.

Reporting by Josh White for

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Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

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