Director dealings: Shares are in the can for film company chairman

DELAYS in the release of one of its productions last week led to Indian film company Photon Kathaas Productions warning that earnings for the year would be below expectations.

The company is working with Fox Star Studios on the release of a remake of a film titled Vinnaithaandi Varuvaaya which has now been rescheduled for early 2012.

Despite the impact on this year’s results, the company, which specialises in films from South India, said its production pipeline remains strong for 2012 and that it was in discussions about a number of new projects.

India produces the most films in the world and records more cinema admissions than any other country, and South Indian films account for more than half of the total films produced in the country.

Following the update, chairman Michael Rosenberg bought 10,000 shares through his personal pension fund at a price of around 25p per share. He now owns around 116,412 shares.

• Oozi Cats, chief executive of Telit, which specialises in technology that enables machines to communicate with each other, has increased his stake following a profits warning. The company said delays on a number of projects would lead to figures for the full year falling below expectations. Cats purchased 300,000 shares at an average price of 44p each.

He now owns 3.4 million shares.

• Two directors in Domino’s Pizza have sold a total of more than £12m worth of shares in the company which has been one of the stock market’s strongest performers in recent years.

Chairman Stephen Helmsley sold a million shares at 450p each although he still holds more than 3.5 million shares.

Non-executive director Nigel Wray sold 1.7 million shares at the same price but retains more than 16 million shares.

• Paul Walsh, chief executive officer at spirits group Diageo, has sold 145,000 shares at 1,335p. His move followed a trading update which showed sales growth of 9 per cent in the three months to 30 September.

• John Kelly, a non-executive director at betting group Ladbrokes, has bought 18,041 shares at 137.9p, The purchase represented his first investment in shares in the company.

• All three directors at investment company Longships have bought shares. Malcolm Burne, Charles Cannon-Brookes and Nathan Steinberg each purchased 112,500 shares at 13p per share.

• Barrie Clark, chairman of internet group IS Solutions, has bought 10,000 shares at 38.75p each to increase his stake to 510,000 shares.