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PartyGaming Plc. directors sell stock
PartyGaming Plc. shares took another dip after the company's directors decided to sell some of their shares yesterday.
Chairman Michael Jackson, finance director Marin Weigold, and company secretary David Abdoo sold shares Tuesday at around 116p per share. News of the sale resulted in PartyGaming Plc. shares dropping again, down four points to 112p.
Sources said Jackson was selling shares for tax purposes. He retained 600,000 shares after selling off about £304,000 worth. He also sold 100,000 shares in another company where he is also chairman.
Weigold and Abdoo both sold all of their shareholdings, resulting in £3.2 million for Weigold and almost £2 million for Abdoo. Both still hold options in the company.
This sale comes only a month after PartyGaming Plc.'s founders sold some of their stock, resulting in a sale of 200 million shares between them.
News Added: 06 July, 2006
Number of views : 668
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