LONDON (Alliance News) - Telit Communications PLC said Chairman Enrico Testa sold 500,000 shares at a price of 345 pence per share Tuesday in order to settle a personal tax liability.
The deal is worth about GBP1.7 million before expenses.
Following this transaction, Testa now holds 1 million shares, which represents 0.87% of the issued share capital.
Shares in the communications technology company were up 0.2% at 343.75p Tuesday.
By Arvind Bhunjun; arvindbhunjun@alliancenews.com; @ArvindBhunjun
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