Directors cash in on companies’ rising share prices
Directors at West Midlands businesses Purplebricks and eg Solutions cashed in a sizable chunk of shares, for £4.8m and £480,000 respectively.
Nick Discombe, senior non-executive director of online estate agents Purplebricks, sold 1.6m shares at £3.00 each.
The £4.8m sale represented one-quarter of his holdings, and he now holds 1.78% of the company.
Purplebricks raised £50m in February, as it bids to crack America.
Its share price reached an all-time high of 368p last month – more than three times its value in December 2016, when it was trading just above 100p. The Solihull-based company now has a market value of £800m.
Separately, Elizabeth Gooch, the chief executive of eg Solutions, has sold 794,000 shares in the Staffordshire software business.
The 61p-per-share sale raised £484,000 and follows a 50% rise in eg Solutions’ share price in February which reversed a year of steady decline. The company’s shares are currently trading close to an 18-month high.
After the sale of around 3.5% of the company, Gooch continues to own 19.6%.
