Indus chief sells large stake

Ajay Kalsi, chief executive of Indus Gas, has sold £60.486m worth of shares in the India-focused oil and gas company.

Kalsi has sold 17.79m shares at a price of £3.40 per share through Arden Partners, NOMAD and broker to the company.

The shares have been placed with a range of existing and new institutional shareholders with good demand in the market, Indus said.

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Mr and Mrs Kalsi, through Gynia Holdings Limited, still own about 79.7% of the issued share capital of the company.

Last month, Indus said it remains in a strong financial position, is on schedule to move into substantial production and revenues in April 2010 and has a strong forward operational programme in place.

Top Director Buys

Value: $67,500

Value: € 24,375

Value: $12,875

Top Director Sells

Value: £60,486,000

Value: £130,900

Value: £98,036

Value: £90,036

Value: £78,600

Value: £56,170

Value: £48,481

Value: £27,861