The chief executive and finance director of chip designer ARM have taken advantage of the strong share price to sell a large portion of their respective shareholdings.
The ARM share price has risen by 185% in the past year. In the past month it has increased by 24%. Strong demand for smartphones and tablet computers has pushed ARM's revenues to new highs.
Revenues for the quarter to December 2010 jumped to £114m from £85m, giving a total for the year of £407m, which was well above forecasts. Underlying 2010 profits jumped by 73% to £167.4m.
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Chief executive Warren East sold 290,000 shares at 574.69p each, raising £1.67m in total. He is left with 714,279 shares, although the vesting of shares under the Long Term Incentive Plan and the deferred annual bonus plan happens on 8 February so his holding will rise again.
Finance director Tim Score has sold more than two-thirds of his stake. He disposed of 197,250 shares at 581.5p each. That raised £1.15m. He still owns 86,053 shares.
Score is also likely to receive additional shares next week.
Executive director Mike Inglis sold his entire holding on Wednesday. That raised £1.13m. He raised £402,000 from a share sale in September.
East raised £1.38m and Score £1.39m from their disposals in September.
Top Director Buys
GlaxoSmithKline (GSK) Director name: Mr Simon DingemansAmount purchased: 40,000 @ 1,180.00p Value: £472,000
Northern Venture Trust (NVT) Director name: Mr Nigel BeerAmount purchased: 24,425 @ 87.00p Value: £21,250
Top Director Sells
ARM Holdings (ARM) Director name: Mr Warren EastAmount sold: 290,000 @ 574.69p Value: £1,666,601
ARM Holdings (ARM) Director name: Mr Tim ScoreAmount sold: 197,250 @ 581.50p Value: £1,147,009
ARM Holdings (ARM) Director name: Mr Tudor BrownAmount sold: 189,860 @ 580.11p Value: £1,101,397
Noventa Ltd. (NVTA) Director name: Mr Erik F KohnAmount sold: 1,000,000 @ 12.80p Value: £128,000
Kiotech International (KIO) Director name: Mr Richard ScraggAmount sold: 50,000 @ 84.00p Value: £42,000
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