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Asite

• BY: Andrew Hore |
• POSTED: 17/12/2007 |
• COMMENTS: Add yours

Director buying has perked up the share price of Asite. 

Non-executive director Gordon Ashworth bought 250,555 shares at an average price of 2.87p each, giving him 0.28% of the company, which provides software tools for construction businesses. Chief executive Tony Ryan purchased 186,577 shares at an average price of 2.38p each, taking his stake to 0.43%. Chief operating officer Nathan Doughty didn’t get as good a price as his colleagues. He paid an average of 4.75p a share for the 73,108 shares he bought, taking his stake to 0.43%.

The shares almost hit 6p on the back of this buying and ended the day 1.75p higher to 3.63p. At that price the company is valued at £3.7m. It also has net debt of £2.66m and is losing money. On the plus side it has £5.5m of contracted revenues stretching over more than a decade.

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