Sigma chairman raises stake after share placing

LONDON (ShareCast) - (ShareCast News) - Sigma Capital (LSE: SGM.L - news) chairman David Sigsworth has increased his stake in the company on the same day the residential development group raised £20m in a share placing to build its own portfolio of assets. Sigsworth spent £100,000 buying 133,333 shares at 75p each. He now holds 245,304 shares, or 0.88% of the group's share capital.

The company issued on Wednesday 26.7m shares at 75p each, representing a 6.8% discount to the prior's day closing price, and said the proceeds will be invested in a portfolio of private rented assets, which would complement its existing joint ventures with Bank and Grainger (LSE: GRI.L - news) .

In a separate announcement on Wednesday, the group said the delivery of 927 new rental homes in the North West was ahead of schedule.

Top Director Buys Sigma Capital Group (SGM) Director name: Mr David Sigsworth Amount purchased: 133,333 @ 75.00p Value: £100,000 African Potash Ltd (AFPO) Director name: Mr Edward H R Marlow Amount purchased: 6,997,282 @ 0.55p Value: £38,485 African Potash Ltd (AFPO) Director name: Mr Jean-Pierre Conrad Amount purchased: 2,569,021 @ 0.55p Value: £14,130 African Potash Ltd (AFPO) Director name: Dr Simon Dorling Amount purchased: 2,075,000 @ 0.55p Value: £11,412 Top Director Sells QinetiQ Group (Other OTC: QNTQF - news) (QQ.) Director name: Mr David Mellors Amount sold: 65,860 @ 235.07p Value: £154,817