LONDON (ShareCast) - The Chief Executive Officer of chip designer Imagination Technologies has sold off a number of shares in the firm to pay income tax and national insurance of around £3.5m, due as a result of exercising nil-cost share options under the company's employee share plan.

Following the £4.6m sale of 802,000 ordinary shares, Hossein Yassaie now holds 800,832 shares in the firm.

At the beginning of January the firm took a stake in new company Toumaz Microsystems, a subsidiary of AIM-listed firm Toumaz.

Imagination is set to invest £5m in the new company in return for a 25% stake.

In mid-December the firm reported a 52% rise in adjusted pre-tax profit, which rose from £10.1m to £15.3m year-on-year for the six months ended October 31st.

In the past 12 months Imagination's share price has soared almost 60%.

In today's trading the stock gain 0.52% to 582.5p by 15:46.

NR



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Director name: Mr Guy Elliott
Amount purchased: 200,000 @ 16.50p
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Immunodiagnostic Systems Holdings (IDH)
Director name: Dr Patrik Olof Dahlen
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Director name: Mr Stephen McLeod
Amount purchased: 2,000,000 @ 1.50p
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Top Director Sells

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Director name: Dr Hossein Yassaie
Amount sold: 802,000 @ 577.41p
Value: £4,630,828

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