LONDON (ShareCast) - Michael Spencer, a significant investor in Tungsten Corporation, almost doubled his stake in the cloud-based invoicing business this week.

Spencer, who is also the founder of ICAP, paid 253p a share, spending £1.9m in total.

His stake in the company now stands at 1.83m shares.

The transaction was made as the company posted its half-year interim report for the six months ended October 31st. The group, which was admitted to AIM in mid-October, said trading had been in line with management expectations and its strategy was progressing well.

The company, which acquired global business to business e-invoicing network OB10 at the same time it listed, said both the value and volume of invoices had increased as a result of the purchase.


Top Director Buys

Tungsten Corporation (TUNG)
Director name: Mr Michael Alan Spencer
Amount purchased: 750,000 @ 253.00p
Value: £1,897,500

Vipera (VIP)
Director name: Mr Petter Neby
Amount purchased: 8,670,579 @ 5.00p
Value: £433,529

Vipera (VIP)
Director name: Mr Marco Casartelli
Amount purchased: 504,110 @ 5.00p
Value: £25,206

Vipera (VIP)
Director name: Mr Martin H W Perrin
Amount purchased: 350,000 @ 5.00p
Value: £17,500

Clarke (T.) (CTO)
Director name: Mr David Henderson
Amount purchased: 23,000 @ 70.00p
Value: £16,100

Vipera (VIP)
Director name: Mr Marco Casartelli
Amount purchased: 319,543 @ 5.00p
Value: £15,977

Vipera (VIP)
Director name: Mr Petter Neby
Amount purchased: 319,543 @ 5.00p
Value: £15,977

Anglo American (AAL)
Director name: Mr Phuthuma F. Nhleko
Amount purchased: 1,099 @ 1,252.71p
Value: £13,767


Top Director Sells

Gooch & Housego (GHH)
Director name: Mr Andrew Boteler
Amount sold: 134,933 @ 700.00p
Value: £944,531

Gooch & Housego (GHH)
Director name: Mr Terence Scribbins
Amount sold: 122,000 @ 700.00p
Value: £854,000

St Ives (SIV)
Director name: Mr Patrick Martell
Amount sold: 385,459 @ 177.64p
Value: £684,729

St Ives (SIV)
Director name: Mr Matthew Armitage
Amount sold: 218,411 @ 177.64p
Value: £387,985

Jelf Group (JLF)
Director name: Mr Phil Barton
Amount sold: 199,550 @ 85.70p
Value: £171,014

Fuller Smith & Turner (FSTA)
Director name: Mr M J Turner
Amount sold: 6,772 @ 936.00p
Value: £63,386

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