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The three Executive Directors of Medicsight (MDST, 46p), an AIM listed company, have announced today their maiden share purchase since the group was listed in June last year at 110p.

On 11 August 2008, Executive Directors Tim Paterson-Brown, David Sumner and Allan Rowley collectively purchased 310,500 ordinary shares of the Company at an average price of 42 pence per share.’

None of these executive directors was previously a holder of Medicsight shares, though Paterson-Brown was reported to hold a 5% stake in Medicsights majority shareholder MGT Capital Investments (Medicsight 2007 Annual Report). They also own options over between 1 million and 1 3/4 million shares each exercisable between 50p and 110p. For details see the 2007 Annual Report.

Even though the $$ investment per director is under £50k, I consider this move by the three executive directors to be significant.

STRONG signal

Disclosure: I have a position in Medicsight shares.

Carnival yesterday August 11th announced further director selling. I believe this to be a significant negative indicator. Please go to this post for full details.

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