13th Jul 2016 17:22
LONDON (Alliance News) - GB Group PLC said Chief Executive Richard Law and Finance Director & Operations Director Dave Wilson both lowered their respective stakes in the company on Wednesday.
The identity data company said Law sold 250,000 shares at an average price of 275.1 pence each as part of "a plan to diversify his shareholding ahead of his approaching retirement", following his decision to leave the business back in April after 13 years with the company.
He will leave the company on solid terms. The business posted a 24% year-on-year rise in adjusted operating profit in the last financial year that ended in March and recently acquired software firm IDscan Biometrics for GBP45.0 million.
Law still holds 2.1 million shares following the sale, equal to a 1.55% stake in the company, with options over another 900,978 shares.
GB Group's Finance Director & Operations Director Dave Wilson, also on Wednesday, exercised options awarded back in 2013 over 135,867 shares. Wilson sold 120,812 of those share at an average price of 275.14 pence each to cover the costs and tax liabilities incurred from the transaction.
On top of the 15,055 shares that were exercised and retained by Wilson, he purchased a further 39,603 shares in the company whilst his wife sold 110,030 shares "at the same time", the company said.
Overall, Wilson holds 55,372 shares less in the company than prior to the transactions, and he now holds 414,779 shares, or a 0.31% stake in the business. He also holds options over 784,098 shares.
GB Group shares closed down 0.4% to 274.50 pence per share on Wednesday.
By Joshua Warner; [email protected]; @JoshAlliance
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