LONDON (Alliance News) - eServGlobal Ltd Friday confirmed it is trading in line with board expectations, following a share price drop in the wake of news that Chief Financial Officer Stephen Blundell had sold 618,055 shares in the company.
In a statement, eServGlobal, which provides end-to-end mobile financial services to emerging markets, said that Blundell sold the shares for personal reasons. Blundell retains 631,945 options over a 0.25% stake in the company, eServGlobal added.
News of Blundell's sale of shares emerged on Tuesday this week, when eServGlobal said the CFO had sold the shares in six transactions over a period of four days.
eServGlobal shares Thursday closed at 27.0 pence on the London Stock Exchange.
By Samuel Agini; samagini@alliancenews.com; @samuelagini
Copyright 2014 Alliance News Limited. All Rights Reserved.