DTI looks at Development share moves
Monday 15 November 1993
Earlier this year, movements in the company's shares attracted attention before news broke that Martin Landau, the property dealer, was to take a 5 per cent stake. Mr Landau, famed for making pounds 25m on the pounds 314m sale of Imry Merchant Developments in 1989, also became deputy chairman of Development Securities.
On the announcement of Mr Landau's appointment on 11 June, the price of Clayform's shares quickly rose from 14p to 25p, reaching 37p during the following week. Records at the Stock Exchange show that 10,000 shares were sold at 13p on 8 June and another 2,000 at the same price the next day. The day before news of Mr Landau's investment broke, around 2.5 million shares changed hands at prices of 12p to 14p.
Mr Landau's investment was part of a pounds 27m placing and offer that aimed to repair the balance sheet of Clayform, which had been hit by the property slump. The increase in the shares at around that time was thought to reflect investors' confidence in Mr Landau.
Neither the DTI nor Development Securities would comment yesterday.
International Women's Day 2014: The shocking statistics that show why it is still so important
Singapore sting: Sky-high prices are pushing locals to the edge of affordability
International Women’s Day: 'When a man gives his opinion, he's a man. When a woman gives her opinion, she's a bitch' - feminist quotes from female icons to inspire you
Exclusive: New evidence links the murders of Stephen Lawrence and a private investigator
Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
Britain's top vet sparks controversy with call for ban on slashing animals' throats in 'ritual' slaughters for halal and kosher meat products
Ukraine crisis: Russia dismisses '3am ultimatum' as 'total nonsense'
If you're horrified by a flame-roasted dog, you should be shocked at a hog roast
Poor 'live like animals' says Boris's privately educated sister after going on 'poverty safari'
White people become less racist just by moving to more diverse areas, study finds
Exclusive: Impact of immigrants on British workers ‘negligible’
- 1 International Women's Day 2014: The shocking statistics that show why it is still so important
- 2 Orgasm machine to deliver climax at the push of a button
- 3 Singapore sting: Sky-high prices are pushing locals to the edge of affordability
- 4 Liam Neeson turned down James Bond role because late wife Natasha Richardson said she wouldn't marry him if he took it
- 5 Dead woman's body found sitting in a car after six years after direct debits ran $54,000 bank account dry
iJobs Money & Business
£12000 per annum: Inspiring Interns: The company works with Tier 1 FTSE 100 Ba...
£32000 - £36000 per annum + generous benefits: Pro-Recruitment Group: * TAX * ...
£37000 - £40000 per annum + £20000 benefits package: Pro-Recruitment Group: **...
£30000 - £35000 per annum + generous benefits: Pro-Recruitment Group: Mixed Ta...