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.

Lawrie sold 153,069 shares at 268.52p each. He still owns just over 1.33m shares in the software company.

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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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Top Director Sells

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