Solid State's chairman sells shares to meet demand from shareholders

The chairman of Solid State sold £0.37m worth in shares in the company to meet further institutional demand following upbeat full-year results.

Anthony Frere sold 47,996 shares for an individual price of 775p, bringing home a total of £371,969.

Following the transaction, Frere holds 8,004 shares in the electronics provider.

The group said on Wednesday there has been significant demand for shares, both from new and existing institutional shareholders, since the release of its full-year results the week before.

The company posted an increase in pre-tax profit by 40% to £3m and turnover up 14% to £36.56m.

Chief executive Gary Marsh said at the time: "Following a similar exercise last November, we are once again delighted to be attracting interest from new institutional shareholders and to have the opportunity to satisfy that demand and thereby continue to increase the free market capital of the company."

Top Director Buys

Noricum Gold Ltd (DI) (NMG)
Director name: Mr Martyn John Churchouse
Amount purchased: 253,750,000 @ 0.20p
Value: £507,500

Cdialogues (CDOG)
Director name: Mr Mark Ian Horrocks
Amount purchased: 6,344 @ 312.50p
Value: £19,825

Cdialogues (CDOG)
Director name: Mr Jeffrey (Jeff) Phillip Gordon
Amount purchased: 3,416 @ 312.50p
Value: £10,675

Top Director Sells

Babcock International Group (BAB)
Director name: Mr Archie Bethel
Amount sold: 99,316 @ 1,108.47p
Value: £1,100,888

Solid State (SOLI)
Director name: Mr Anthony B. Frere
Amount sold: 47,996 @ 775.00p
Value: £371,969

red24 (REDT)
Director name: Mr Simon Richards
Amount sold: 200,000 @ 29.25p
Value: £58,500

El Oro Ltd (ELX)
Director name: Mr C. Robin W. Parish
Amount sold: 90,000 @ 55.00p
Value: £49,500