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Three directors of Serica Energy (SQZ, 69.5p) have been buying shares.

Serica Energy (link to company website) announced on Friday August 15th that:

Anthony Walker, Non Exec Chairman, bought 360,000 shares at 69p to increase his position to 5.6m shares,

Paul Ellis, CEO, boughtt 200,000 shares at 69p, to take his holding to 650,000 shares, and

Christopher Hearne, CFO, bought 75,000 shares at 69p to take his holding in Serica Energy to 675,000 shares.

Between them they have invested £440k.

In March 2008 directors Ellis and Cartwright bought shares at between 71p and 83p. Subsequently the shares reached a recent high of 108p in May. They then only bought 110,000 shares between them.

I consider Fridays purchases to be more significant as three directors are buying, investing significant amounts, and increasing their positions by an average of 20%. Signal strength: STRONG

M&S (MKS, 276p)

Deputy Chairman Sir David Michels on August 14th bought 37,734 shares at 265p, taking his holding to 113,984 shares. This is in addition to his recent purchase of 47,500 shares on July 29th.

The retail sector has been firm recently on the back of weaker oil prices, maybe anticipating that inflation in the UK will fall away in the coming months.

I mentioned in my last post of July 30th that I needed to see more commitment from other directors before buying shares myself. Thursdays purchase by Michels hasn’t changed this.

Signal strength for M&S remains WEAK

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August 2008