Share Watch: Quiros buys Pochin, Aviva sells Stobart
CHESHIRE construction group Pochin has been informed that one of its larger shareholders has increased its stake.
Quiros Limited, a company in which non-executive director Michael Chadwick has a non-beneficial interest, bought 40,000 Pochin shares in November when they were worth between 100-105p.
Quiros now has 4,833,364 ordinary shares in the company, or 23.23% of the total voting rights. Mr Chadwick personally holds 14,000 ordinary shares, or 0.06% and a non-beneficial interest in 4,840,164 ordinary shares, 23.27%.
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INSURANCE group Aviva has cut its holding in the Carlisle-based logistics group Stobart.
On December 8 Aviva and its subsidiaries sold nearly half a million shares in the group, taking its holding below 7% to 6.78%. Stobart is currently expanding and recently purchased Southend airport in Essex for £21m.
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INVESTMENT bank Goldman Sachs has increased its stake in Volex, the Warrington electrical cables group. It bought 242,670 shares on December 2 when they were priced at around 20p.
The trade takes Goldman’s stake in the business up to 8.12%. Volex reported a slump in profits last month despite higher sales. First half pre-tax profits were down to £1.1m from £2.7m last time. Sales were up 23% to £155m. The group anticipates an improvement in the second half.
