Maintel sales director reduces sizeable stake in firm

Angus McCaffery, Sales and Marketing Director of Maintel, a telecoms and data services company, sold off 115,000 ordinary shares for 380p each.

The £437,000 transaction left McCaffery with just over two million shares, equal to around 19.25% of the company.

Earlier this month the firm posted a rise in both revenue and profit for the year ended December 31st. Income was up from £22m to £25.9m year-on-year, while pre-tax profit climbed from £2.7m to £3m.

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Cash at the end of the period rose £0.5m to £2.95m. A final dividend of 6p was proposed, making 10.6p for the year, compared to 8.5p the previous year.

The stock has boomed over the past year, rising more than 100%, equivalent to 200p, and nearly 15%, or 50p over the past month.

45-year-old McCaffery was a co-founder of Maintel Europe in 1991 and previously held the position of sales director of Maintel Holdings.

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