17th May 2018 14:54
LONDON (Alliance News) - Sopheon PLC said on Thursday several directors have sold a total of 315,481 shares at a price of 986.0 pence per share through a placing.
Shares in the software and services provider were up 6.9% at 1,010.00 pence on Thursday.
Chief Executive Officer Andy Michuda exercised and sold options for 50,000 shares, and sold 4,668 placing shares, giving him 84,155 shares in total afterwards.
Executive Chairman Barry Mence sold 66,390 shares, meaning he now holds 2.2 million shares, reflecting a 22% stake in the company.
Chief Financial Officer Arif Karimjee exercised and sold options for 20,000 shares, and sold 2,801 placing shares, giving him 82,493 shares in total.
Non-Executive Director sold 20,747 shares, giving him a total of 520,317 shares in the company.
FinnCap acted as sole bookrunner in relation to the placing.
"As a board we are excited about the future prospects of the company and the opportunity to continue to deliver on our vision. Since releasing our 2017 results we have met with a number of investment houses, with the objective of expanding our institutional shareholder base. It became clear that to facilitate this, certain long-standing shareholders and management would need to make available a relatively small part of their holdings," Mence said.
Sopheon now has 10.1 million shares issued overall.
Related Shares:
SPE.L