Sharewatch: Tory peer buys Midas; Mindenhall sells Fairpoint

MIDAS Capital’s deputy chairman Lord Wade has boosted his holding in the business.

The Tory peer spent £1,700 on an additional 10,000 shares in the fund manager at 17p each.

Following this transaction Lord Wade holds 866,386 shares in the company, or 1.24% of the share capital.

Midas, which owns Liverpool-based Midas Capital Partners, has made a number of disposals in the past year to help repay bank debts.

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A former non-executive at the Lancashire individual voluntary arrangement (IVA) company Fairpoint has sold a large number of shares in the business.

Charles Mindenhall sold 500,000 shares less than a month after leaving the board of the Chorley-based firm. Mr Mindenhall has raised some £375,000 from the sale as the shares have been trading at around 75p.

He still holds 1.4 million shares, or 3.2% of the company’s share capital.

Another investor, listed only as K Yirrell, has also disposed of 500,000 shares. The transaction leaves the shareholer, who is not on the board, with just under 3%.