Shares in Atlantic Coal (LON:ATC) rose by more than a third in afternoon trading on Tuesday after a strong show of faith by the company’s managing director, Steve Best.
Best put his hand in his pocket and purchased 7.3mln shares, taking his stake to 300.8mln shares, representing 23.1% of the issued share capital of the coal miner.
Shares have doubled over the last month after the company bounced back firmly into the black at the half-year.
Best paid 0.27p a share for his latest purchase, costing a total of £19,710. He's already sitting on a paper profit; shares rose 45% to 0.304p in late afternoon trading.