Raymond Kwan, the Chief Technical Officer of Tracsis ditched 750,000 shares on the same day the firm announced that it considers it likely that the company will exceed current market expectations for the year ended July 31st 2012.
Tracsis is a developer, supplier and aggregator of resource optimisation, data capture and reporting technologies to the transport industries.
Kwan sold the shares for 75p each for a total of £562,500 on June 1st, reducing his stake in the firm to 1,899,850 shares. His wife holds 226,000 shares, which together with Kwan's stake totals 8.6% of the issued share capital of the firm.
On the same day as the trading update, the company announced that profits would be ahead of expectations for the full-year period.
According to market consensus, revenue for the full year is currently expected to be £6.84m, pre-tax profit at £1.90m, earnings per share at 6.10p, with a dividend of 0.50p.
Tracsis shares have risen 72% in the past year, compared with the support services industry as a whole, which is down 1.9%.
QinetiQ, the defence, security and aerospace company saw its share price rise strongly after it raised its interim dividend per share to 1.4p from 1.1p, due to its confidence that its Organic-Plus strategy will deliver value to shareholders over the medium term on the back of in-line first half results. Investec helped the shares along after retaining its 'buy' rating on the company. [21 Nov '13]
Intermediate Capital Group (ICG), which provides mezzanine finance, has announced the realisation of two of its investments in Minimax Viking, a global supplier of fire protection systems and services. [27 Aug '13]
The share price of FTSE 250 upstream exploration and production firm Heritage Oil surged on Wednesday after the company said that production at its OML 30 licence in Nigeria is back at normal levels. [12 Jun '13]
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.