dotDigital directors sell to satisfy institutional demand

Three directors at dotDigital, which provides digital software services to marketing professionals, have each sold four million shares in the company to partially satisfy demand for 22m shares from 'a major institution', at a price of 13p each. Chief Executive and Finance Director Peter Simmonds cut his stake to 6.9m shares, which he now holds along with 9.1m shares which are held by Frank Nominees, of which Simmonds is the beneficiary. Chief Operating Officer Ian Taylor only made a small dent to his shareholding, reducing it to 49.9m, or 18.11% of the issued share capital, while Chief Technical Officer Simon Bird now holds 41.86m shares, or 15.20% of issues shares. Frank Beechinor, Chairman, said: "We welcome the recent investment interest and support demonstrated by this highly regarded institutional investor following recent results presentations. We believe that our new shareholder has recognised that our growth strategy will generate significant returns for all of our shareholders."In total the shares sold for £1.56m, equal to £520,000 to each director. Earlier this month, the company announced its intention to chase market share in the software as a service (SaaS) space, which is likely to hit revenue growth and profits in the short-term. The stock is up 1.92% over the past month and 71% higher over the last 12 months, equal to 5.50p. Top Director BuysGeneral Electric Co (GEC) Director name: Mr John Joseph BrennanAmount purchased: 5,000 @ € 16.38 Value: € 81,923Pathfinder Minerals (PFP) Director name: Mr John P McKeonAmount purchased: 1,000,000 @ 1.90p Value: £19,000Top Director SellsAlternative Networks (AN.) Director name: Mr Benjamin MarnhamAmount sold: 306,881 @ 251.00p Value: £770,271DotDigital Group (DOTD) Director name: Mr Peter A. SimmondsAmount sold: 4,000,000 @ 13.00p Value: £520,000Judges Scientific (JDG) Director name: Hon Alexander HambroAmount sold: 15,489 @ 860.00p Value: £133,205Alternative Networks (AN.) Director name: Mr Edward SpurrierAmount sold: 47,212 @ 251.00p Value: £118,502Alternative Networks (AN.) Director name: Mr James SewellAmount sold: 47,212 @ 251.00p Value: £118,502Harvey Nash Group (HVN) Director name: Mr Albert EllisAmount sold: 112,995 @ 61.12p Value: £69,063Amiad Water Systems Ltd (AFS) Director name: Mr Simon Myers OlswangAmount sold: 20,000 @ 304.00p Value: £60,800Amiad Water Systems Ltd (AFS) Director name: Mr Simon Myers OlswangAmount sold: 10,000 @ 305.00p Value: £30,500Harvey Nash Group (HVN) Director name: Mr Simon WassallAmount sold: 47,714 @ 61.12p Value: £29,163M. P. Evans Group (MPE) Director name: Mr James Derek ShawAmount sold: 5,000 @ 498.00p Value: £24,900