21st Mar 2016 11:52
LONDON (Alliance News) - Somero Enterprises Inc said Chief Executive Officer Jack Cooney, together with his wife, sold 1.4 million shares, half their holding, at a price of 144 pence per share on Monday.
The deal was worth around GBP2.0 million and was conducted in order to satisfy a US tax obligation.
Following completion of the sale, Cooney and his wife remain interested in 1.4 million shares, representing 2.52% of the entire issued share capital of the laser-guided machinery maker.
The company said Cooney has agreed he will not dispose of any of his remaining shareholding, for at least two years.
The stock was up 2.8% at 149.55p Monday.
By Arvind Bhunjun; [email protected]; @ArvindBhunjun
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