Yell FD pockets £5m in share sell-off
The finance director of internet directory company Yell had received a windfall of nearly £5m after selling almost half his shares in the company.
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John Davis sold 1.45m shares at 340p a share for a total of £4.93m, while chief executive John Condron made £10.9m selling 3.2m shares.
The move came just six weeks after the expiry of a one-year lock-up on selling shares following the company’s floatation. Davis had said just a month ago that he had no plans to sell shares, according to the Financial Times.