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(Alliance News) - Proton Motor Power Systems PLC on Friday said a company associated with Chief Executive Faiz Nahab sold a total of 419,084 shares on the Frankfurt Stock Exchange, and a total of 179,900 shares on the London Stock Exchange in three transactions from Tuesday to Thursday.
Shares in the energy equipment provider were up 6.7% at 28.80 pence each on Friday morning in London. In Frankfurt, Proton shares were up 4.4% at EUR0.33.
SFN Cleantech Investment Ltd - which Nahab has a 2% stake in - on Tuesday sold 174,485 shares in Proton on the Frankfurt Stock Exchange at an average price of EUR0.31 for a total amount of EUR54,090. On the same day, it sold 89,900 shares on the London Stock Exchange at an average price of GBP0.26 per share totalling GBP23,374.
On Wednesday, it sold 148,515 shares on the Frankfurt Stock Exchange at an average price of EUR0.31 for a total amount of EUR46,039. On the same day, it sold 50,000 shares on the London Stock Exchange at GBP0.26 per share totalling GBP13,000.
On Thursday, SFN sold a further 96,084 shares on the Frankfurt Stock Exchange at EUR0.32 each for a total amount of EUR30,746. On the same day, it sold 40,000 shares on the London Stock Exchange at GBP0.26 per share totalling GBP10,400.
Following the transactions SFN holds 594.02 million shares in Proton, representing 88.8% of the company's issued share capital.
By Ife Taiwo; ifetaiwo@alliancenews.com
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