Fidessa directors offload shares

Financial software provider Fidessa's chief executive and chairman have sold shares less than one week before they go ex-dividend.

Fidessa announced a 40p a share special dividend when it published its 2009 figures at the beginning of last week. This is in addition to a 20p a share final dividend paid at the same time. The ex-dividend date is 3 March.

Chief executive Chris Aspinwall sold 250,000 shares earlier today at 1385p a share. Finance director John Hamer sold 100,000 shares at the same price.

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Aspinwall raised £3.46m and still owns 1.36% of Fidessa and Hamer raised £1.385m and retains 0.71% of the company.

Last October, Aspinwall raised £1.95m from a share disposal and Hamer £975,000. The sales were at 1300p a share.

This means that Aspinwall has raised more than £5.4m from sales in this tax year and Hamer has raised £2.36m.

Aspinwall has been with Fidessa since 1986 and became chief executive in 2001, while Hamer became chairman in the same year having started with the company in 1983. Hamer was the previous chief executive.

The 2009 results were better than forecast but the growth rate is expected to fall as the number of customers declines due to consolidation.

Revenues improved 26% to £238.5m in 2009, although that is flattered by foreign exchange movements. Underlying profit rose by nearly one-third to £31m. Profits are expected to approach £40m in 2010.

Top Director Buys

Rank Group (RNK) Director name: Mr Ian BurkeAmount purchased: 100,000 @ 101.80p Value: £101,800

Redrow (RDW) Director name: MS Barbara RichmondAmount purchased: 60,512 @ 140.30p Value: £84,898

Anglo Pacific (APF) Director name: Mr Chris OrchardAmount purchased: 5,000 @ 247.50p Value: £12,375

Top Director Sells

Fidessa (FDSA) Director name: Mr Chris AspinwallAmount sold: 250,000 @ 1,385.00p Value: £3,462,500

Fidessa (FDSA) Director name: Mr John HamerAmount sold: 100,000 @ 1,385.00p Value: £1,385,000

Spectris (SXS) Director name: Mr Roger StephensAmount sold: 59,511 @ 786.02p Value: £467,768

GlaxoSmithKline (GSK) Director name: Dr Moncef SlaouiAmount sold: 22,524 @ 1,214.27p Value: £273,500

GlaxoSmithKline (GSK) Director name: Mr Julian HeslopAmount sold: 17,109 @ 1,208.00p Value: £206,677

GlaxoSmithKline (GSK) Director name: Mr Andrew P WittyAmount sold: 13,851 @ 1,208.00p Value: £167,320

Anglo Pacific (APF) Director name: Mr Anthony H YadgaroffAmount sold: 24,069 @ 247.00p Value: £59,450

John Lewis of Hungerford (JLH) Director name: Mr John LewisAmount sold: 2,100,000 @ 1.00p Value: £21,000

Mitchells & Butlers (MAB) Director name: Mr Adam FowleAmount sold: 6,163 @ 284.80p Value: £17,552