23rd Sep 2013 09:47
LONDON (Alliance News) - Allocate Software PLC said Monday that its Executive Chairman and Chief Financial Officer exercised share options and sold a portion of the new shares on Friday.
The company, which develops workforce management solutions, issued 892,156 new shares following the exercise of options under its Enterprise Management Incentive and Unapproved share option schemes. The new shares are expected to begin trading on AIM on Thursday.
Chairman Terry Osborne exercised 392,156 share options and subsequently sold 100,000 shares at a price of 101 pence per share, retaining 292,156. Following the transaction, Osborne is interested in 342,156 shares, representing about 0.5% of the new total of issued shares of 65.2 million.
CFO Chris Gale exercised 500,000 share options and subsequently sold 447,571 shares at a price of 101 pence per share, retaining 52,429. Following the transaction, Gale is interested in 65,429 shares, about 0.1% of the company.
Allocate Software shares were quoted Monday at 101.00p, unchanged.
By Tom Waite; [email protected]; @thomaslwaite
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