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International Power CFO sells entire stake in the firm

Wed, 29th Feb 2012 15:38

Mark Williamson, the Chief Financial Officer (CFO) of International Power, the FTSE 100 power generator, has sold over a million pounds worth of shares in the firm.

The move means he no longer holds any shares in the company.

Williamson, who has been CFO since 2003, sold 409,684 shares, which belonged to both him and his wife, at 344.50p each, for a total of just over 1.41m.

Earlier this month the firm, which is 70% owned by French utility GDF SUEZ, reported a 3% increase in 2011 revenue and an 8% increase in underlying earnings before interest, tax, depreciation and amortisation (EBITDA).

The group said free cash flow in the year was up 4% from 2010's levels at 2.69bn (2010: 2.59bn) and with restructuring costs stripped out was up 7.5%.

The stock is up more than 3% over the past twelve months, equivalent to 11p.

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