Indus chief sells large stake

Ajay Kalsi, chief executive of Indus Gas, has sold £60.486m worth of shares in the India-focused oil and gas company.Kalsi has sold 17.79m shares at a price of £3.40 per share through Arden Partners, NOMAD and broker to the company.The shares have been placed with a range of existing and new institutional shareholders with good demand in the market, Indus said.Mr and Mrs Kalsi, through Gynia Holdings Limited, still own about 79.7% of the issued share capital of the company.Last month, Indus said it remains in a strong financial position, is on schedule to move into substantial production and revenues in April 2010 and has a strong forward operational programme in place.Top Director BuysSymphony International Holdings (SIHL) Director name: Mr Anil ThadaniAmount purchased: 150,000 @ $0.45 Value: $67,500FBD Holdings (FBH) Director name: Mr Andrew LangfordAmount purchased: 3,250 @ € 7.50 Value: € 24,375Symphony International Holdings (SIHL) Director name: Mr Anil ThadaniAmount purchased: 28,611 @ $0.45 Value: $12,875Top Director SellsIndus Gas (INDI) Director name: Mr Ajay KalsiAmount sold: 17,790,000 @ 340.00p Value: £60,486,000ARM Holdings (ARM) Director name: Mr Tim ScoreAmount sold: 100,000 @ 130.90p Value: £130,900Admiral Group (ADM) Director name: Mr Kevin ChidwickAmount sold: 9,240 @ 1,061.00p Value: £98,036Imagination Technologies (IMG) Director name: Dr Hossein YassaieAmount sold: 58,088 @ 155.00p Value: £90,036ARM Holdings (ARM) Director name: Mr Warren EastAmount sold: 60,000 @ 131.00p Value: £78,600Imagination Technologies (IMG) Director name: Dr Hossein YassaieAmount sold: 36,239 @ 155.00p Value: £56,170Imagination Technologies (IMG) Director name: Mr Trevor SelbyAmount sold: 31,278 @ 155.00p Value: £48,481Imagination Technologies (IMG) Director name: Mr Trevor SelbyAmount sold: 17,975 @ 155.00p Value: £27,861