LONDON (Alliance News) - ULS Technology PLC, which provides online platforms for the UK conveyancing and financial intermediary markets, on Monday said one of its board members considerably reduced his shareholding.
Non-Executive Director Nigel Hoath sold 10 million shares at a price of 45 pence per share on Friday. The deal was worth GBP4.5 million.
The sale was conducted in order to fund property investment opportunities, the company said. Following the sale Hoath holds 7.6 million shares, or an 11.8% stake.
Hoath "remains a fully supportive member of the board and has confirmed that he will not be seeking to sell any further shares for at least six months," ULS said in a statement.
The company also said two of its board member purchased shares. Chairman Peter Opperman bought 45,000 shares at 45p each. Opperman's holding increased to 2.7 million shares, which represent approximately 4.2% of the issued share capital.
Non-Executive Director Geoff Wicks bought 22,000 shares at the same price and now holds 52,000 shares.
Both purchases took place on Friday.
The stock was down 4.7% at 55.25p Monday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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