Payment solutions company Network International (LON: NETW) has announced that two of its directors purchased shares in the company resulting in its share price rallying.
The announcement was made this morning with Network International saying that Senior Independent Director, Darren Pope and Group Chief Financial Officer, Rohit Malhotra purchased 8,824 and 20,000 shares respectively.
Yesterday also saw the announcement that Simon Haslam, Network International Chief Executive Officer and Ron Kalifa, the company’s Chairman also bought shares in Network International along with the non-executive director, Victoria Hull, who purchased £149k worth of shares in the company at £2.24 a share.
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The rise in shares being purchased by insiders goes to show the confidence that the directors have in the company going forward.
Network International shares…
Network International (NETW)
The increase in insider buying has not gone unnoticed amongst investors as the company’s shares have rallied 18% so far today and are currently trading at 280p.
Network International’s third-quarter trading update will be released on the 4th of November.
Sam is a trader and lead stock market writer at AskTraders. After starting his career in the forex market, Sam now focuses on stocks, specifically consumer staples.
