Mark Brooks, who was appointed to the Netcall board following the acquisition of Telephonetics, has sold all his shares in the AIM-quoted telecoms call-back and speech recognition software provider.
Brooks had been a director of Telephonetics since March 2008 and joined the Netcall board in July 2010. In the Netcall annual report it said that Brooks had a six month employment term.
Netcall offered 0.3077 of a share and 5p in cash for each Telephonetics share. At that time, Netcall raised £4.25m at 19p a share to help finance the cash cost of the bid, which was £5.46m.
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Brooks sold 3.97m shares at 15p each, which valued the stake at £596,000.
Netcall increased its revenues by 245% in the six months to December 2010 helped by the contribution from Telephonetics. Reported pre-tax profit was down, but stripping out amortisation and exceptionals it rose from £359,000 to £1.09m.
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