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Imagination Technologies CEO makes multi-million pound sale

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Imagination Technologies CEO makes multi-million pound sale

Fri, 27 January 2012
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Imagination Technologies CEO makes multi-million pound sale
Imagination Technologies Group Quote more

Price: 215.40

Chg: -0.70

Chg %: -0.33%

Date: 16:34

FTSE 250 Quote

Price: 17,159.33 Chg: -97.92 Chg %: -0.57% Date: 16:29

The Chief Executive Officer of chip designer Imagination Technologies has sold off a number of shares in the firm to pay income tax and national insurance of around £3.5m, due as a result of exercising nil-cost share options under the company's employee share plan.

Following the £4.6m sale of 802,000 ordinary shares, Hossein Yassaie now holds 800,832 shares in the firm.

At the beginning of January the firm took a stake in new company Toumaz Microsystems, a subsidiary of AIM-listed firm Toumaz.

Imagination is set to invest £5m in the new company in return for a 25% stake.

In mid-December the firm reported a 52% rise in adjusted pre-tax profit, which rose from £10.1m to £15.3m year-on-year for the six months ended October 31st.

In the past 12 months Imagination's share price has soared almost 60%.

In today's trading the stock gain 0.52% to 582.5p by 15:46.

NR



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Top Director Sells

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Director name: Dr Hossein Yassaie
Amount sold: 802,000 @ 577.41p
Value: £4,630,828

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