Apologies - I am going for £3m market cap drinks firm Distil (LON:DIS) as story of the week again.

The share price of Distil (LON:DIS) has fallen in the past year as the company has continued to report losses. However, progress does appear to be being made.

I made Distil (LON:DIS) story of the week just a few weeks ago, when it announced that it had secured approval to sell one of its brands in the US. It seems that both a US distributor AND shareholder support for a placing had been readied in expectation of this and those announcements duly followed.

However, more encouragement came last week with news that a director of Distil (LON:DIS), Mr Mark Quinn has spent £6.5k buying shares in the company at 0.7475p and 0.7875p (yes, Distil (LON:DIS) is not even a penny share).

http://www.investegate.co.uk/distil-plc--dis-/rns/director-pdmr-shareholding/201502060700082143E/

Mr Quinn is a non-executive director of the company. While this is not a tremendously significant amount of money, the optimist in me is taking it as a signal that Mr Quinn believes that the company has turned a corner.

It may also be worth noting that only a very modest discount appears to have been necessary in the company's recent placing. This placing was significant, with the number of shares in issue increasing from 363m to 436m.

There you have it. Everyone have a great week.

David O'Hara
Editor, AIM Prospector

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