Psion directors open accounts

published 12 March 2009

Three directors at the mobile computer software firm Psion bought into the company Thursday, spending a combined total of about £130,000.

Chief executive John Conoley bought 14,800 at 47.52p a time, his first purchase of shares in the group.

Chief financial officer Fraser Park, also buying his first stake, bought 73,700 at the same price.

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Andy Clegg, senior vice president of supply chain and services, paid the same price a share for 188,500 and now has 514,448.

Last week Psion said results were in line with the expectations despite the difficult economic environment.

The group however turned into pre-tax losses of £7.6m from profit of £10m last year due to the £15m exceptional operating cost related to restricting and litigation costs. Revenue came in at £199.4m (2007: £199.7m).

Sales in Asia declined markedly, it said, adding that as previously announced, unauthorized transactions may have occurred in Japan, leading to litigation with a number of parties.

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