DIRECTOR’S DEALS

Oozi Cats, 54 Telit Communications boss

THE boss of Telit Communications took advantage of a crash in the firm’s value to purchase £687,500 worth of shares.

Oozi Cats helped restore investors’ faith yesterday after it emerged he bought 400,000 shares at an average price of 171.8p. He now owns more than 16.5m shares, or 12.6pc, of the company’s market capital. Shares fell by more than 40pc on Monday after it revealed a shock £5.2m loss over the first half of the year. Yesterday, Telit’s shares recovered by 16pc, or 24p, to 174.4p.