Misys chief exec sells for tax purposes

Misys chief executive Mike Lawrie has raised £427,132 from a share disposal in order to cover a tax bill.

The tax is due on contingent share awards that matured on 13 August.

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Last Friday, Misys announced that it had completed the placing of 27m shares in Allscripts as well as selling 24.4m shares back to the US-quoted software company. The placing shares were sold for $17.05 each (the minimum offer price was $16.50 a share) and Allscripts bought the other shares back for $23.62 a share. Misys raised just over $1bn from these sales.

Misys plans to return this cash to shareholders through a tender offer.

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Polo Resources (POL) Director name: Mr Guy ElliottAmount purchased: 2,549,995 @ 3.50p Value: £89,250

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Top Director Sells

Misys (MSY) Director name: Mr Mike LawrieAmount sold: 159,069 @ 268.52p Value: £427,132

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