Vestas board grab shares in Q2 aftermath

DENMARK: Nine Vestas board members have given their backing to the company following its disappointing quarter results by splashing out DKK3.95million (£435,741) on shares.

Vestas CEO Ditlev Engel bought 2000 Vestas shares
Vestas CEO Ditlev Engel bought 2000 Vestas shares

Vestas share prices nosedived by around 20% in the aftermath of the results announcement where it was revealed the company had made a £120million loss over the previous three months.

Among those to have taken advantage of the lower share price was Vestas chief executive Ditlev Engel who spent DKK497,955 on 2000 shares.

The biggest purchase was made by Vestas chairman Bent Erik Carlsen who acquired 8000 shares for DKK1,959800 (£217,159).

All of the purchases either happened over the last two days.

Other Vestas board members to have bought shares in the company following the Q2 results announcement include president Vestas Technology Finn Madsen, Bjarne Sorensen president Vestas Control Systems and board member Michael Lisberg.

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