Richard Tice, chief executive of the property investment group CLS Holdings, has spent more than £250,000 building his stake in the group.

He took 40,000 shares at just over 645p a time and now has nearly 260,000, or about 0.57% of the company.

In March, CLS reported close to a fourfold increase in annual profit, despite difficult conditions and spending cuts in the UK, after gains from revaluation of investment properties.

Pre-tax profit rose 283% to £70.9m in the year ended 31 December 2010. Net assets rose 16% to £357.2m. Property revaluation gained £30.1m compared with a loss of £6.7m the year before.

CLS said its £877m property investment portfolio in London, France, Germany and Sweden benefited from its exposure to four different economies.

Tice joined CLS last year. He was joint chief executive of property group Sunley for 15 years until 2006, when he arranged a shareholder exit prior to the 2007 downturn. He then became managing director of his own boutique property firm.


Top Director Buys
New Europe Property Investments (NEPI)
Director name: Mr Martin Slabbert
Amount purchased: 337,500 @ € 2.99
Value: € 1,009,125

New Europe Property Investments (NEPI)
Director name: Mr Victor Semionov
Amount purchased: 170,000 @ € 2.99
Value: € 508,300

CLS Holdings (CLI)
Director name: Mr Richard Tice
Amount purchased: 40,000 @ 645.09p
Value: £258,036

Avocet Mining (AVM)
Director name: Mr Brett Allan Richards
Amount purchased: 20,000 @ 201.20p
Value: £40,240

Xstrata (XTA)
Director name: Sir John Bond
Amount purchased: 1,000 @ 1,425.38p
Value: £14,254


Top Director Sells
Cape (CIU)
Director name: Mr Martin K May
Amount sold: 190,122 @ 522.15p
Value: £992,722

ARM Holdings (ARM)
Director name: Mr Mike Muller
Amount sold: 100,000 @ 598.50p
Value: £598,500

ARM Holdings (ARM)
Director name: Mr Mike Muller
Amount sold: 100,000 @ 596.10p
Value: £596,100

Cape (CIU)
Director name: Mr Richard Keith Bingham
Amount sold: 68,182 @ 522.15p
Value: £356,012

Sandvine Corp. (SAND)
Director name: Mr Dave Caputo
Amount sold: 14,800 @ 146.29p
Value: £21,651

ARM Holdings (ARM)
Director name: Mr Mike Muller
Amount sold: 2,091 @ 594.00p
Value: £12,421

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