3rd Dec 2015 17:11
LONDON (Alliance News) - Polypipe Group PLC said three executives sold a total of 3 million shares in the pipe manufacturer at 335 pence each in order to satisfy personal tax liabilities.
The total value of the sale was about GBP10.1 million.
Chief Executive Officer David Hall, Chief Financial Officer Peter Shepherd and Business Development Director Paul Rice each sold 1 million shares. The sale takes their holdings to 5.8 million, 2.5 million and 2.8 million shares, respectively.
"The directors and Mr Rice confirm that they have no intention to sell any additional shares in the immediate future," the company said in a statement.
The stock closed down 3.7% at 338.50p Thursday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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