Foley and Daniels buy M&G shares on the dip
John Foley: profit on shares (pic: Terry Murden)
M&G chief executive John Foley and chief investment officer Jonathan Daniels have each paid more than £166,000 for shares in the business after its share price slid by 55% over a month.
Mr Foley (pictured) and Mr Daniels each bought 150,000 shares in the asset manager at a price of £1.11 in between the share price falling from a peak of £2.51 on the 20 February to an all time low of 93p on the 18 March.
The share price has since risen by 17% to £1.30, meaning their investment is now worth £195,000 each.
Non-executive director Clare Thompson invested £34,400 in 20,000 M&G stocks at a price of £1.72 per share, while Clive Anderson, also a non-executive director purchased 4,000 shares at a price of £1.11 per share.