TRG concessions

The Restaurant Group (RTN, 135p) keeps hitting the radar screen. This is the owner of Garfunkels, Frankie and Bennys, Chiquito, as well as many other brands and concessions, owning over 300 restaurants in the UK.

It hits the screen on director purchases, but also because these purchases are in a sector highly vulnerable to a fall in consumer confidence. And lastly, it scores highly due to the unusually high number of directors buying shares.

Five executive directors, the Non Exec Chairman, and the Company Secretary have over the last month put £400k to work in Restaurant Group shares.

Andrew Page, who was wise (not lucky, surely) enough to execrise an option and sell 650,000 shares at 351p in March last year, is now starting to buy back at less than half the price. Page has increased his position in Restaurant by about 60% over the last two weeks, buying 147,000 shares at between 140p and 147p.

Other directors who have participated in purchases are Bacon, Corzine, Morgan, Critoph, and Richardson, increasing their positions by between 15 and 50%.