BusinessCompany NewsKheraj snaps up £1.4m of Barclays shares

Kheraj snaps up £1.4m of Barclays shares

Optimistic ex-Barclays FD snapped up £1.4m of stock at the start of August as credit crunch wreaked havoc on share price

Barclays’ former finance boss Naguib Kheraj bought a massive stake in the
banking giant as the credit crunch was taking its toll on the capital markets.

He topped a list compiled by Morgan Stanley and the FT of executives
from Barclays, Investec, HBOS and Man Group who made the largest share purchases
in August.

Kheraj’s 200,000 shares, bought at a price of £6.82 each were originally
worth £1.36m at the time of purchase on 2 August. At 12:30pm today, Barclay’s
share price stood at £6.34 which corresponds to a drop in value of almost
£100,000 to just under £1.27m.

During the last month, plc top brass have been making significant share
purchases, suggesting that fears of long-term fallout from the credit crunch may
be exaggerated.

Current FD Chris Lucas bought up 35,000 shares at the same price which means
his purchase, originally worth almost £239,000 has lost £16,800 in value.

Further reading:

Man Group FD bullish over share values

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