(Alliance News) - Tricorn Group PLC said Wednesday that Finance Director Phil Lee sold around GBP10,000 in shares in order to part-fund the cost of an exercise of options in mid-June.
Lee disposed of 55,600 shares at a price of 18 pence per share. Following the transaction Lee now holds 499,838 shares overall, reflecting a 1.5% interest in the company.
Earlier on Wednesday, the tubing manufacturer said it was "ahead of plan" in its US expansion, having bought the coating and spraying line and secured a five-year lease for 47,000 square feet of space within a larger building.
At present, the facility and associated paint line are "fully operational", which puts Tricon ahead of its target as the paint line was previously not expected to be operational until the end of July.
Shares in Tricorn were down 1.1% at 18.30 pence on Wednesday.