Two people closely associated with Primary Health Properties (LSE:PHP) chief financial officer Richard Howell have bought a combined 55,418 shares at about 91p each. Mr Howell has also transferred 114,360 shares to one of those associates, Claire Howell, at a nil price.

What was announced

Primary Health Properties PLC (LSE:PHP) said on 26 October 2026 that Richard Howell, its Chief Financial Officer, and persons closely associated with him had acquired ordinary shares of 12.5 pence each in the company. The shares carry ISIN GB00BYRJ5J14.

Three transactions are set out in the filing, all dated 23 October 2026. In the first, Mr Howell transferred 114,360 shares to Claire Howell, a person closely associated with him, at a price of nil. In the second, Claire Howell bought 54,659 ordinary shares at £0.9101 each, for an aggregated value of £49,999.58. In the third, Myles Howell, also listed as a person closely associated with the CFO, bought 759 shares at £0.9098 each, for an aggregated value of £693.97.

Each transaction is recorded as taking place outside a trading venue. The filing gives no reason for the transfer or for the purchases.

The numbers

On the disclosed figures, the two purchases total 55,418 shares and £50,693.55.

The 114,360-share transfer from Mr Howell to Claire Howell is a movement of shares between Mr Howell and an associate and does not involve new money, as no price was paid. It therefore does not change the combined holding of Mr Howell and his closely associated persons. The two purchases, by contrast, add 55,418 shares to that combined interest.

The announcement does not disclose the total holdings of Mr Howell or his associates after the transactions, nor does it state what percentage of the company's issued share capital they represent. It also does not explain why the purchases were made outside a trading venue.

Background

Primary Health Properties is a real estate investment trust that owns modern primary healthcare premises, such as GP surgeries and health centres. The contacts listed on the announcement are Mark Davies, Chief Executive Officer, Richard Howell, Chief Financial Officer, and David Purcell of Investor Relations.

Under the UK Market Abuse Regulation, persons discharging managerial responsibilities and people closely associated with them must disclose dealings in the company's shares. Purchases by persons closely associated with a director, such as family members, are reported in the same way as purchases by the director, because the rules treat them as connected to the director.

Most dealings disclosed by senior executives at listed companies are routine, such as share plan purchases, awards, vestings and sales to cover tax. Purchases with fresh money by persons closely associated with a sitting chief financial officer are less common and are often tracked by investors as a separate category. The filing, however, contains no comment from the company on the dealings, and it makes no link between them and the group's trading or outlook.

What to watch next

The filing leaves open the reason for the share transfer and the total size of the combined holding. These points may become clearer in the company's next annual report, which normally sets out directors' interests, or in any further notifications of dealings.

Investors may also watch for further purchases or sales by other directors and senior managers. The company's next scheduled trading update or results release will be the main guide to how the business is performing, as this announcement contains no trading or financial data.