Sage chairman nets £236,000 in sale

Michael Jackson, the chairman of Newcastle-based software group Sage, has
cashed in on £236,000 after selling shares he held in the company.

Jackson sold 100,000 shares at a price of 236p.

Jackson’s decision to sell is in direct contrast to Sir Julian Horn-Smith, a
non-executive director at Sage, who last month spent £225,000 on buying exactly
the same number of shares at 225p per share.

In its most recent full year results Sage unveiled a slowdown in organic
growth, to 5% from 6% previously.

This disappointed the market despite Sage easily beating expectations with
pre-tax profits up 19% on last year at £113.7m.

Related reading