Broker's share price rises as directors up stakes

CBG up to 45 pence on news.

CBG Group, the Manchester based insurance broker and financial services specialist, today announced that a number of directors have increased their beneficial shareholdings in the company.

Mike Askew, the company's group managing director, purchased a total of 17 000 Ordinary Shares of 4 pence each in the company at a price of 45 pence per share, representing a 2.75% (previously 2.65%) of the company's issued share capital.

Martyn Hughes, the company's group finance director, purchased a total of 14 000 Ordinary Shares at a price of 45 pence per share, representing a 0.64% (previously 0.56%) of the company's issued share capital.

Following the announcement shares in the company jumped 4.60% or 2p to 45.50p.