Senior managers at Perform have cashed in a total of about £7 million (€9 million/$11 million) of their shareholding in the first share sale since the digital sports media company was floated on the London stock exchange last year.
Joint chief executives Simon Denyer and Oliver Slipper, and finance director David Surtees, all sold portions of their stakes in the company for a price of 374p per share, according to the Guardian newspaper.
Denyer sold 1,100,720 shares to generate £4.2 million and also transferred just over £1 million of shares as a gift to three charities. Denyer’s stake has dropped from 11.5 per cent to 10.9 per cent as a result.
Slipper sold 300,000 shares to secure £1.12 million and reduce his stake from 2.6 per cent to 2.5 per cent.
Finance director David Surtees sold 450,000 shares to raise £1.68 million and leave his stake at 0.5 per cent.
Last week, the company reported an 84-per-cent rise in year-on-year profit after tax to £8.56 million in the six months to June 30, 2012.
US billionaire Leonard Blavatnik is Perform’s largest shareholder with a 42.64-per-cent stake.