MACKIE International chairman Mr Pat Dougan has bought 100,000 shares in the company for £129,000, the first time that the chairman has invested in Mackie shares since he and his family trust sold £4.75 million worth of Mackie shares last March.

Mr Dougan bought the 100,000 shares at 129p each lowest price at which the shares have traded this year.

Since Mr Dougan and his family trust sold 1.25 million shares at 380p last March, Mackie shares have plunged as the group warned on two separate occasions that profits in the current year would be down on the previous year.

The most recent profits warning a month ago sent the shares to their all time low of 129p.

Commenting on his decision to reinvest in Mackie, Mr Dougan said: "My decision to buy shares reflects my confidence in the group's long term future and my belief that our policy of diversification is producing and will continue to produce positive results.