Date: Wednesday 20 Feb 2013
LONDON (ShareCast) - John Warren, a non-Executive Director of Irish food producer Greencore, has increased his stake in the company just a few days after the company was forced to admit horse meat had been found in its beef bolognese sauce.
The director purchased 25,000 shares at 105.60p each, costing £26,400 before tax.
Greencore last week confirmed that its Chosen By You 350g Beef Bolognese has been withdrawn from Asda supermarkets following the detection of horse DNA.
Three other Greencore products were taken off shelves “as a precautionary measure” but they did not test positive for horse meat. Items included the 600g Beef Broth Soup, 500g Meat Feast Pasta Sauce, and 400g Chilli Con Carne Soup.
The bolognese sauce contributed circa £0.3m of £1.16bn turnover in Greencore's last financial year. The annualised revenue of all products withdrawn represents less than £1.0m.
“The company is currently awaiting the results of further quantitative tests on the 350g Beef Bolognaise Sauce that will validate the presence and the extent of the equine DNA,” the group said in a statement.
Top Director Buys
Chrysalis VCT (CYS)
Director name: Dr Martin Knight
Amount purchased: 50,000 @ 61.50p
Value: £30,750
Greencore Group (GNC)
Director name: Mr John Warren
Amount purchased: 25,000 @ 105.60p
Value: £26,400
Top Director Sells
Accsys Technologies (AXS)
Director name: Mr Paul Clegg
Amount sold: 422,526 @ € 0.16
Value: €66,548
NR
57.20p
Trade now with Barclays Stockbrokers
Update -
