LONDON (ShareCast) - Mining and development group Mwana Africa said its Non-Executive Interim Chairman had on Thursday acquired himself £15,068-worth of shares, growing his stake by around a fifth.

Stuart Morris, who has been on the board since 2005, paid 2.55p for each of the 590,910 shares.

The purchase, which increased his stake to three million shares, came one day after its Chief Executive Officer, Kalaa Mpinga, purchased one million shares at the slightly higher price of 2.50p in a deal worth £26,000.

Wednesday also saw the release of the group's full-year results for the 12 months ended March 31st, during which time revenue soared 30.5% to $142.5m, helping it return to the black with a profit of $43.94m, compared to a loss of $32.06m a year earlier.

This was in part also due to lower care and maintenance expenses, which dropped from $12.96m to $1.89m year-on-year.


Top Director Buys

Eleco (ELCO)
Director name: Mr John Ketteley
Amount purchased: 626,505 @ 20.75p
Value: £130,000

Eleco (ELCO)
Director name: Mr Jonathan Cohen
Amount purchased: 221,950 @ 20.75p
Value: £46,055

Mwana Africa (MWA)
Director name: Mr Stuart Morris
Amount purchased: 590,910 @ 2.55p
Value: £15,068

Amphion Innovations (AMP)
Director name: Mr Richard James Macaleer
Amount purchased: 596,913 @ 2.17p
Value: £12,953

Eleco (ELCO)
Director name: Mr Jonathan Brenig Edwards
Amount purchased: 62,500 @ 20.75p
Value: £12,969


NR

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