Deltex medical vice-chair pockets £1m

Edwin Snape, vice-chairman of Deltex Medical, has trousered nearly £1m from the sale of shares in the company, cashing in on a surge last month following some well-received news.

He offloaded almost 3.4m shares at 28.5p a time, but kept just over 1m shares, which is about 0.75% of the company.

Shares in Deltex Medical shot up after it said its CardioQ-ODM oesophageal monitor has been recommended by the National Institute for Clinical Excellence (NICE) for use in patients undergoing major surgery.

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NICE's recommendation now applies to 837,000 surgical patients a year in the NHS in England alone, it estimates.

The shares have risen sharply since December, when Snape took about 31,000 shares at 19.5p a time as part of an agreement to receive shares instead of cash remuneration.

Deltex also announced today that following his big sale he immediately started rebuilding his stake, receiving 21,053 shares at 28.5p as part of the same agreement.