1st Oct 2013 14:10
LONDON (Alliance News) - iomart Group PLC Tuesday said three executives sold shares in the company.
Chief Executive Officer Angus MacSween sold 3.6 million shares; Finance Director Richard Logan sold 272,727 shares; and executive director Sarah Haran sold 381,818 shares. Together, the sales represent 4.1% of the value of the company.
The shares were placed at 275 pence each.
MacSween's holding is now 16.8 million shares or 15.9%; Logan's is 981,393 shares or 0.9%; and Haran's is 2.0 million, or 1.9%.
Earlier, Iomart said MacSween, Logan and Haran had decided to sell a total of GBP11.8 million shares in the company via an accelerated bookbuilding placing.
MacSween will sell GBP10 million shares to rebalance his personal portfolio and take advantage of a tax relief scheme for entrepreneurs, the company said. He has pledged not to sell any more shares before the company reports results for the financial year ending March 2015.
iomart shares were Tuesday quoted at 277 pence, down 13.25 pence, or 4.6%.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
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