Hardy Oil and Gas chief sells

A round-up of the biggest director deals today so far.

Sastry Karra, the chief executive and founder of Hardy Oil and Gas, sold £1.87m worth of shares to discharge an obligation to Swiss bank UBS over a personal loan guaranteed on his holdings in several companies.

Karra's sale came as UK regulator, the FSA, tightened up on directors using shares as loan collateral without informing other shareholders. The regulator says all such deals must now be disclosed by 23 January.

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