Tanfield Execs Buy 9 Million in Company Shares

July 9, 2008 • Following last week's announcement that the Tanfield Group, parent company of UpRight and Snorkel, would be altering its growth strategy due to a decreased demand in aerial work platforms, share prices plummeted from 26.22p to 5.53p on July 2. This week, Tanfield announces its chairman and chief executive officer have purchased a significant number of company shares between them.

On Tuesday, Chairman Roy Stanley purchased 4.42 million ordinary shares at 5.6p and another 3.7 million ordinary shares at 6.69p. Following this purchase, Stanley now holds a total of 27,769,292 ordinary shares, which represents 7.5 percent of the company's issued share capital.

Darren Kell, CEO, purchased 1 million of Tanfield shares at 5.85p on Wednesday. He purchase represents 0.3 percent of the company's issued share capital.