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LONDON - Literacy Capital plc (LSE:BOOK), the UK-based investment trust, has disclosed a significant share purchase by Christopher Sellers, a Person Discharging Managerial Responsibilities (PDMR) and Independent (LON:IOG) Director of the company. On Wednesday, Sellers acquired 50,000 ordinary shares at a price of 382 pence per share, as per a regulatory filing with the London Stock Exchange (LON:LSEG).
The transaction, valued at £191,000, increased Sellers’ total beneficial interest in Literacy Capital to 500,000 ordinary shares. This represents approximately 0.83% of the company’s issued share capital. The purchase reflects a vote of confidence from Sellers in the investment trust’s performance and prospects.
Literacy Capital specializes in direct investments in private UK businesses and has been a notable player in the investment trust landscape. The dealing by Sellers was conducted in accordance with the UK’s market abuse regulation, which ensures transparency of transactions by key company insiders.
The recent acquisition of shares by a director often signals to investors that company leadership has a positive outlook on the firm’s future. Such insider transactions are closely monitored by the market as they can provide insights into management’s expectations.
The notification of this dealing is part of the company’s commitment to uphold the standards of market conduct and to provide shareholders and the public with necessary information regarding transactions that may influence the perception and valuation of the company’s shares.
This announcement is based on a press release statement and provides the key facts surrounding the transaction without any additional commentary or speculative insight.
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