LONDON (Alliance News) - Software provider dotdigital Group PLC Tuesday said four of its directors sold a total of 3.6 million shares, "in order to satisfy strong demand from institutional investors," on Monday.
The shares were sold at 42.29 pence a share, valuing the sale at around GBP1.5 million gross.
Chief Operating Officer Ian Taylor sold 2.5 million shares, leaving him with 36.8 million shares or a 12.5% stake.
Non-Executive Director Peter Simmonds sold 600,000 shares and now holds 4.0 million shares, or a 1.36% stake.
Interim Chief Executive Officer and Chief Financial Officer Milan Patel sold 400,000 shares, decreasing his holding to 1.6 million shares.
Chairman Frank Beechinor sold 100,000 shares and now holds 199,194 shares.
The stock was down 1.1% at 42.52p Tuesday midday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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dotDigital Group (DOTD)