15th Oct 2014 09:02
LONDON (Alliance News) - Consumer lender Fairpoint Group PLC Wednesday said Chief Executive Officer Chris Moat exercised 50,000 share options awarded under the company's Unapproved Share Option Scheme at an exercise price of 50 pence per share.
Moat subsequently sold all of these shares at 135.5 pence per share. The sale was required to fulfil some personal financial commitments.
Following this transaction, Moat holds 201,531 shares, which represents 0.46% of Fairpoint's issued share capital and total voting rights.
Shares were trading at 116.15p, down 4.0% Wednesday morning.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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