(Alliance News) - Arena Events Group PLC said Chief Executive Greg Lawless purchased 100,000 shares in the company at an average price of 18 pence per share on Friday.
Lawless paid GBP18,000 for the shares. His resultant holding was not disclosed.
The deal follows a 200,000 share purchase by Lawless at 21p per share for GBP42,000 on Tuesday, the same day the firm posted a heavily widened loss of GBP2.2 million pretax loss for the six months ended June 30, from a GBP200,000 loss the year before due to administrative expenses.
Arena also cut its interim dividend in half to 0.25p per share from 0.5p per share on approaching contract delivery costs and announced the upcoming departure of Chief Financial Officer Piers Wilson.
Wilson will be succeeded by Steve Towbridge, former CFO of Evans Cycles and then chief executive upon the company's sale to Sports Direct International PLC.
Shares in Arena Events were up 2.9% at 18.00p on Friday afternoon.
