Bosses at three companies have taken advantage of their firms’ rising share prices to cash in a chunk of their stakes in the past week.
The biggest deal involved the managing director of IT infrastructure provider Softcat (SCT), Colin Brown, who sold 125,000 shares at £12.06 apiece for a total sum of £1.5m.
The deal is the second sale Brown has made in the past year, after selling 125,000 shares for 852p each back in April for a total of £1.1m.
It comes after Softcat chairman Martin Hellawell banked £12.3m from a bigger share sale in November.
The company has been on a roll in the last year, its share price rising 80% after delivering double-digit jumps in revenue, profit and dividend growth in the 12 months to 31 July.
Describing itself as in ‘great health’ and ‘strategically well-positioned’, Softcat said it is confident of delivering further growth in 2020.
Two other companies doing well are lifestyle concierge business Ten Lifestyle (TENG) and video games developer Sumo Group (SUMO).
Bosses at both companies have sold sizeable stakes, taking advantage of strong share price rises recently.
Ten Lifestyle co-founder and chief exec Alex Cheatle sold 700,000 shares at 120p each for a total of £840,000, followed by fellow co-founder and chief operating officer Andrew Long, who sold 1m shares at the same price for a sum of £1.2m.
Shares in Ten Lifestyle have almost trebled in the last year, rising from around 43p in January 2019 up to the 123p mark today.
While the company is yet to be profitable, it has reduced its losses and delivered double-digit revenue growth across all its markets in the 12 months to 31 August, and continues to have no debt.
Meanwhile Sump Group chief executive Carl Cavers and chief operating officer Paul Porter each sold 500,000 shares in the company at 195p apiece, both banking sums of £975,000.
Sumo, which counts Chinese conglomerate Tencent as a major shareholder, has also delivered decent growth in 2019, with its half-year results to 30 June showing a 6.1% rise in adjusted revenue to £20.8m and a 13.7% rise in adjusted gross profit to £9.8m.
