LONDON (ShareCast) - Mark Sheppard, the investment manager of Manchester & London Investment Trust (MLIT), has bought nearly £1.9m of shares in the closed-ended investment company.

Sheppard, from MLIT's parent Manchester & Metropolitan Investment and MLIT's fund manager Midas Investment Management, bought 712,071 shares at a price of 265p each, MLIT said on Thursday.

The purchase of the 3.17% stake in MLIT lifted Sheppard's total holding to 58.17%.

The deal follows a 13% drop in the stock over the past 12 months.

MLIT said in March that its net asset value per share in the first half (to January 31st) fell by 10.2% to 299.9p, an underperformance of 9.6% to its benchmark index.


Top Director Buys

Manchester & London Investment Trust (MNL)
Director name: Mr Mark Sheppard
Amount purchased: 712,071 @ 265.00p
Value: £1,886,988

African Barrick Gold (ABG)
Director name: Ms Rachel English
Amount purchased: 17,383 @ 215.00p
Value: £37,373

Red Rock Resources (RRR)
Director name: Mr Michael Nott
Amount purchased: 13,842,563 @ 0.23p
Value: £31,838

Maven Income & Growth 4 VCT (MAV4)
Director name: Mr Bill Nixon
Amount purchased: 30,000 @ 85.25p
Value: £25,575

Fenner (FENR)
Director name: Mr Richard John Perry
Amount purchased: 5,000 @ 336.29p
Value: £16,814

Red Rock Resources (RRR)
Director name: Mr James Ladner
Amount purchased: 6,000,000 @ 0.23p
Value: £13,800

Red Rock Resources (RRR)
Director name: Mr John Watkins
Amount purchased: 6,000,000 @ 0.23p
Value: £13,800

Red Rock Resources (RRR)
Director name: Mr Andrew Ronald McMillan Bell
Amount purchased: 4,500,000 @ 0.23p
Value: £10,350


Top Director Sells

Catlin Group Ltd. (CGL)
Director name: Mr Benjamin Meuli
Amount sold: 50,000 @ 522.00p
Value: £261,000

S&U (SUS)
Director name: Mr Guy Thompson
Amount sold: 7,500 @ 1,892.00p
Value: £141,900

S&U (SUS)
Director name: Mr Mike Mullins
Amount sold: 4,000 @ 1,892.00p
Value: £75,680

S&U (SUS)
Director name: Mr Christopher Redford
Amount sold: 2,500 @ 1,892.00p
Value: £47,300

S&U (SUS)
Director name: Mr Mike Thompson
Amount sold: 2,500 @ 1,892.00p
Value: £47,300

BC

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