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.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
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
-
Reeves urged to axe stamp duty from UK shares held in an ISAChancellor Rachel Reeves is reportedly considering axing stamp duty from UK shares held in stocks and shares ISAs. What could it mean for your portfolio?
-
Family investment companies explained: how the ultra wealthy shield their money from the taxmanWealthy families are increasingly turning to family investment companies to keep more of their money away from HMRC – but what are these arrangements and how do they work?
