Bruno Angelici, a non-executive director of Smiths Group, has bought his first shares in the company less than a week after it was revealed that the technology supplier had rejected an approach for its medical division.

Angelici paid 1392p a share for the 2,000 shares he acquired - a total outlay of nearly £28,000. The share price closed at 1283p on 13 January - the day before the approach was revealed.

Angelici joined the Smiths board in July 2010. The French man is a former executive of AstraZeneca and he was received into the Legion d'honneur in December 2009.

Smiths rejected a £2.45bn approach for its biggest division Smiths Medical. It said it had carefully considered the approach, which came from the private equity group Apax according to media reports, concluding that continuing discussions on the basis of a sale at that level would not be in shareholders' best interests.

Smiths Medical accounted for about 31% of the company's sales last year.

Research company Edison Investment, however, expects Smiths to be broken up at some point. "We feel that it is only a matter of time before a satisfactory bid will kick-start the process," Edison said.

Smiths is expected to announce its interim results on 23 March.


Top Director Buys

Smiths Group (SMIN)
Director name: Mr Bruno Angelici
Amount purchased: 2,000 @ 1,392.00p
Value: £27,840

Midas Income & Growth Trust (MIGT)
Director name: Mr Hubert Reid
Amount purchased: 18,868 @ 116.50p
Value: £21,981

ViCTory VCT (VICT)
Director name: Mr Christopher Moorsom
Amount purchased: 43,000 @ 38.00p
Value: £16,340

Elektron (EKT)
Director name: Mr Jeremy Gordon Thorn
Amount purchased: 38,000 @ 40.60p
Value: £15,428

Elektron (EKT)
Director name: Mr Jeremy Gordon Thorn
Amount purchased: 38,000 @ 40.60p
Value: £15,428

ViCTory VCT (VICT)
Director name: Mr David M Page
Amount purchased: 32,620 @ 38.00p
Value: £12,396


Top Director Sells

Cairn Energy (CNE)
Director name: Mr Malcolm Thoms
Amount sold: 212,300 @ 448.09p
Value: £951,295

Cairn Energy (CNE)
Director name: Mr Philip Tracy
Amount sold: 141,534 @ 448.09p
Value: £634,200

Alternative Networks (AN.)
Director name: Mr Edward Spurrier
Amount sold: 300,000 @ 190.00p
Value: £570,000

Cairn Energy (CNE)
Director name: Sir Bill Gammell
Amount sold: 116,371 @ 448.09p
Value: £521,447

Alternative Networks (AN.)
Director name: Mr James Murray
Amount sold: 250,000 @ 190.00p
Value: £475,000

Bankers Petroleum Ltd. (BNK)
Director name: Mr Eric M Brown
Amount sold: 50,000 @ 552.47p
Value: £276,235

Alternative Networks (AN.)
Director name: Mr Benjamin Marnham
Amount sold: 225,000 @ 190.00p
Value: £427,500

Next (NXT)
Director name: Mr C E Angelides
Amount sold: 18,953 @ 2,148.00p
Value: £407,110

Cairn Energy (CNE)
Director name: Dr Mike J Watts
Amount sold: 82,561 @ 448.09p
Value: £369,948

Cairn Energy (CNE)
Director name: Mrs Janice Margaret Brown
Amount sold: 60,610 @ 448.09p
Value: £271,587

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