Chief scientific officer Dr Erling Sundrehagen has sold 100,000 shares in diagnostics firm Axis-Shield at 408p a share. The sale raised £408,000. The share price fell 7p to 401p on the day of the announcement.
Dr Sundrehagen still owns 79,645 shares in Axis-Shield. Back in May, Dr Sundrehagen raised £148,000 by selling 50,000 shares at 296p each.
Dr Sundrehagen has a PhD in immunology and founded Norway-based Axis Biochemicals. Axis merged with Shield Diagnostics to form Axis-Shield in 1999. The company is quoted on the London and Oslo Stock Exchanges.
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Scotland-based Axis-Shield published an interim management statement at the end of October 2009. At that time management said that revenues were in line with expectations.
The main area of growth is the Point of Care division. There should be 6,500 Afinion point of care analysers in place by the end of 2009 - that includes 2,500 placed during the year. This is helping to increase sales of the Afinion cartridges and production is becoming more efficient, therby boosting margins. Afinion revenues underpin future growth.
The laboratory and distribution divisions are also performing well. The laboratory division sells diagnostic products direct to laboratories, while the distribution side sells Axis-Shield's point of care products in Switzerland and Germany.
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Jardine Matheson (Singapore) (JAR) Director name: Mr Benjamin William KeswickAmount sold: 88,000 @ $29.67 Value: $2,610,731
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TUI Travel (TT.) Director name: Mr Johan LundgrenAmount sold: 239,753 @ 243.30p Value: £583,319
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TUI Travel (TT.) Director name: Mr William WaggottAmount sold: 187,363 @ 243.30p Value: £455,854
Axis-Shield (ASD) Director name: Mr E SundrehagenAmount sold: 100,000 @ 408.00p Value: £408,000
Jardine Matheson (Singapore) (JAR) Director name: Mr Simon L KeswickAmount sold: 10,000 @ $29.74 Value: $297,440
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