Asos'schief operating officer, Nick Beighton, who has been promoted or perhaps demoted from finance director after three profit warnings in the last seven months, increased his skin in the game with a significant share purchase on Wednesday morning after the company unveiled final results.
Beighton picked up 22,150 ordinary shares
at an average price of 2,249.62p for a cost of almost £500,000.
The shares topped £23 on the day, before moving lower than Beighton's purchase price, where they are still two thirds of the all-time high above £70 they hit early this year.
Annual profits were not quite as bad as feared as the online fashion retailer put a troublesome year to bed, although management plans significant investment in international pricing that is likely to hold profits back for the next two years.
Beighton's move to COO, effective immediately, will see him add responsibility for retail and international to his existing responsibilities for finance, IT, supply chain and logistics, freeing up chief executive Nick Robertson to focus on growth strategy, customer experience and marketing. The company has already begun a search for a new CFO.
Top Director Buys
Director name: Mr Nick Beighton
Amount purchased: 22,150 @ 2,249.62p
Burford Capital (BUR)
Director name: Mr David Charles Lowe
Amount purchased: 60,000 @ 122.00p
Director name: Mr Barry K Mence
Amount purchased: 237 @ 18,576.86p
Director name: Mr Peter Page
Amount purchased: 20,000 @ 247.32p
Pacific Alliance Asia Opportunity Fund Ltd (PAX)
Director name: Mr Anthony M Miller
Amount purchased: 30,000 @ $1.55
Shanta Gold Ltd. (SHG)
Director name: Mr Luke Leslie
Amount purchased: 210,000 @ 9.50p
Griffin Mining Ltd. (GFM)
Director name: Mr Adam Usdan
Amount purchased: 50,000 @ 39.00p
Director name: Mr Stuart A Silcock
Amount purchased: 74 @ 23,457.00p
Xcite Energy Ltd. (CDI) (XEL)
Director name: Mr Andrew Fairclough
Amount purchased: 35,000 @ 43.10p
Minds + Machines Group Limited (DI) (MMX)
Director name: Mr Frederick (Fred) Robert Krueger
Amount purchased: 150,000 @ 10.00p