4th Feb 2014 16:26
LONDON (Alliance News) - NetDimensions (Holdings) Ltd Tuesday said Chief Executive Jay Mervin Shaw purchased the equivalent of 500 shares in the company at 77 pence each.
Shaw bought 100 American Depositary Receipts - each roughly equivalent to five shares - at USD6.27 each. The 77 pence was calculated using an exchange rate of USD1.63 being equal to GBP1.00.
The company said it was informed of the transaction Tuesday.
Shaw now owns about 4.9 million shares, representing 12.84% of the company's share capital.
American Depositary Receipts allow investors in the US to buy the share equivalents of foreign companies traded on a US exchange. They help to reduce the costs of trading in foreign shares.
Shares in the company were Tuesday quoted at 70.00 pence, down 3.00 pence, or 4.1%.
By Samuel Agini; [email protected]; @samuelagini
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