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REA Holdings (RE.)

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REA Holdings directors join in fundraising as palm oil prices bounce back

19 Oct 15

LONDON (ShareCast) - (ShareCast News) - Two directors of palm oil plantation group REA Holdings have topped up their stakes in the company as part of a 4.4m fundraising.
The pair bought at a price of 260p per share, with REA's share price having fallen from above 400p almost 12 months ago as the company's principal commodity, crude palm oil, has seen its price subject to a significant fall.

At the time of interim results in August, the company said management was looking to respond to falling CPO prices with "various initiatives to refinance existing indebtedness and to raise additional equity to permit continuation of the group's planned extension planting programme".

CPO prices have been boosted recently as the Indonesian government launched a fund to support its local palm oil industry and expectations of lower production due to the dry weather conditions brought on by the El Nino weather phenomenon.

Emba Holdings Limited, a company linked to chairman Richard Robinow, purchased 353,920 shares for just over 0.9m.

Director David Killick also purchased 10,000 shares on Friday for 26,575.

Broker FinnCap in September cut its capex forecasts and assumed no dividend going forward, adding that while cash flow remained tight it was "too risky to recommend buying the shares until the CPO starts to meaningfully recover and/or there is a substantial injection of equity".

Top Director Buys

REA Holdings (RE.)

Director name: Mr Richard M Robinow

Amount purchased: 353,920 @ 260.00p

Value: 920,192

Dunelm Group (DNLM)

Director name: Mr Andy Harrison

Amount purchased: 53,433 @ 928.80p

Value: 496,286

Sopheon (SPE)

Director name: Mr Barry K Mence

Amount purchased: 44,406 @ 84.75p

Value: 37,634

REA Holdings (RE.)

Director name: Mr David H R Killick

Amount purchased: 10,000 @ 265.75p

Value: 26,575

Seeing Machines Ltd. (SEE)

Director name: Mr Terence Ronald (Terry) Winters

Amount purchased: 260,310 @ 4.83p

Value: 12,573

At the time of publication, there were no director sells.

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


Market Data

Currency UK Pounds
Price 152.50p
Change Today 0.000p
52 Week High 225.00p
52 Week Low 95.00p
Volume 0
Shares Issued 43.95m
Market Cap 67.02m


  Latest Previous
  Interim Final
Ex-Div n/a 02-Jul-15
Paid n/a 24-Jul-15
Amount 0.000p 3.75p