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Director dealings: Spirax-Sarco brass make share purchases

(Sharecast News) - Spirax-Sarco Engineering revealed on Monday that chief financial officer Nimesh Patel had acquired 1,122 ordinary shares in the FTSE 100-listed steam management systems manufacturer. Patel, who joined the group in 2020, purchased the shares on Friday at an average price of 8,911.36p each, for a total value of £99,985.46.

Chairman Jamie Pike and chief executive Nicholas Anderson also made substantial share purchases on Friday, with Anderson purchasing an additional 1,122 and Pike buying up 1,115.

Earlier in November, Spirax-Sarco lowered its full-year sales guidance but said a return to growth was expected to take place in 2024. Spirax-Sarco said it anticipates full-year 2023 sales to be 1-2% lower compared to 2022 pro-forma sales of £1.73bn, while adjusted operating profit margins would be "slightly improved" on the 20.2% delivered in the first half.

As of 1545 GMT, Spirax-Sarco shares were up 2.71% at 9,182.0p.

Reporting by Iain Gilbert at Sharecast.com

Top Director Buys

Spirax-sarco Engineering (SPX) Director name: Patel,Nimesh Amount purchased: 1,122 @ 8,911.36p Value: �99,985.46

Spirax-sarco Engineering (SPX) Director name: Anderson,Nicholas John Amount purchased: 1,122 @ 8,911.36p Value: �99,985.46

Spirax-sarco Engineering (SPX) Director name: Pike,Jamie Amount purchased: 1,115 @ 8,951.91p Value: �99,813.79

Hipgnosis Songs Fund Limited Npv (SONG) Director name: Naylor,Robert (Rob) Graham Amount purchased: 100,000 @ 73.29p Value: �73,294.00

Big Technologies (BIG) Director name: Morris,Daren John Amount purchased: 29,666 @ 177.00p Value: �52,508.82

Hipgnosis Songs Fund Limited Npv (SONG) Director name: Coleman ,Sylvia Amount purchased: 50,000 @ 73.65p Value: �36,825.00

Hipgnosis Songs Fund Limited Npv (SONG) Director name: Holden,Simon Amount purchased: 50,000 @ 73.56p Value: �36,778.00

Hipgnosis Songs Fund Limited Npv (SONG) Director name: Keeling,Francis Amount purchased: 50,000 @ 73.50p Value: �36,748.50

Hipgnosis Songs Fund Limited Npv (SONG) Director name: Keeling,Francis Amount purchased: 50,000 @ 73.50p Value: �36,748.50

Hipgnosis Songs Fund Limited Npv (SONG) Director name: Rampersaud,Cindy Amount purchased: 27,000 @ 73.43p Value: �19,825.02

Norman Broadbent (NBB) Director name: Malik,Mehr Amount purchased: 158,350 @ 6.30p Value: �9,976.05

Centaur Media (CAU) Director name: Mukerji,Swagatam Amount purchased: 576 @ 39.20p Value: �225.79

Top Director Sells

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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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