Raymond Kwan, the Chief Technical Officer of Tracsis ditched 750,000 shares on the same day the firm announced that it considers it likely that the company will exceed current market expectations for the year ended July 31st 2012.
Tracsis is a developer, supplier and aggregator of resource optimisation, data capture and reporting technologies to the transport industries.
Kwan sold the shares for 75p each for a total of £562,500 on June 1st, reducing his stake in the firm to 1,899,850 shares. His wife holds 226,000 shares, which together with Kwan's stake totals 8.6% of the issued share capital of the firm.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Get 6 issues free
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
On the same day as the trading update, the company announced that profits would be ahead of expectations for the full-year period.
According to market consensus, revenue for the full year is currently expected to be £6.84m, pre-tax profit at £1.90m, earnings per share at 6.10p, with a dividend of 0.50p.
Tracsis shares have risen 72% in the past year, compared with the support services industry as a whole, which is down 1.9%.
Top Director Buys
AFI Development (AFRB)
Director name: Mr Lev Leviev
Amount purchased: 9,053,307 @ $0.50
Value: $4,526,654
F&C Asset Management (FCAM)
Director name: Mr Edward Bramson
Amount purchased: 162,000 @ 71.71p
Value: £116,170
Hardy Oil & Gas (HDY)
Director name: Mr Alasdair Locke
Amount purchased: 75,000 @ 125.00p
Value: £93,750
ITE Group (ITE)
Director name: Mr Marco Sodi
Amount purchased: 25,000 @ 184.00p
Value: £46,000
IFG Group (IFP)
Director name: Mr Colm Barrington
Amount purchased: 32,420 @ 105.12p
Value: £34,080
Mecom Group (MEC)
Director name: Mr Michael Hutchinson
Amount purchased: 38,000 @ 78.00p
Value: £29,640
Ocean Wilsons Holdings Ltd. (OCN)
Director name: Mr Chris Townsend
Amount purchased: 2,500 @ 1,050.00p
Value: £26,250
Renold (RNO)
Director name: Mr John Allkins
Amount purchased: 75,000 @ 33.50p
Value: £25,125
Thomas Cook Group (TCG)
Director name: Mr Roger Burnell
Amount purchased: 60,000 @ 18.16p
Value: £10,896
Top Director Sells
Tracsis (TRCS)
Director name: Dr. Raymond Kwan
Amount sold: 750,000 @ 75.00p
Value: £562,500
Canaccord Financial Inc. (CF.)
Director name: Mr Peter MacLachlan Brown
Amount sold: 43,054 @ 344.40p
Value: £148,278
Electrocomponents (ECM)
Director name: Mr Ian Mason
Amount sold: 42,571 @ 196.21p
Value: £83,529
Intermediate Capital Group (ICP)
Director name: Mr Philip Keller
Amount sold: 19,664 @ 241.05p
Value: £47,400
Electrocomponents (ECM)
Director name: Mr Simon Boddie
Amount sold: 21,286 @ 196.21p
Value: £41,765
Public stock markets are shrinking: where could investors turn for growth?
Is property investment still as safe as houses? Why golden era could be over
