The share deals went through as Interserve announced losses of £244m and net debt of £502m, expected to rise to a summer peak of £650m.

Despite setting out plans to put the business on a firmer footing, city investors marked down shares on the announcement, which fell by around 12% on the day from around £1.05 on opening to 95p at market close.

White bought 56,364 shares for £1.05p for £59,688 while Whiteling bought 30,000 shares at a day low of 93p worth £28,125.

Interserve shares continued to fall yesterday, down by a further 4%.

In the year ahead, Interserve said it would continue its cost-cutting programme with an expected cost of £16.5m.

The construction arm will still bid major projects but the majority of contracts will remain in the £5m-£50m value.

White said that she was keen to keep the main business streams of support services, construction and equipment services in place, but would look to sell off around £70m of non-core assets to reduced debt, including Interserve’s stake worth £40m in the Haymarket development in Edinburgh.

With net debt still expected to be around £400m by 2020, Interserve said it would look to bring down net debt further.

“We will be looking at strategic options to delever the group in the course of the coming months,” said White.