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DataCash's Bailey trims holding

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Date: Wednesday 18 Apr 2007

LONDON (ShareCast) - DataCash director David Bailey has taken advantage of the shares strong run a day after the payment service provider announced a 270% surge in full year adjusted pre-tax profit.

The stock has risen by about 72% over the past six months, prompting Bailey to slash his stake by 100,000 shares to 555,562, or 0.61%, raising a total of £247,000.

Yesterday, the group reported a pre-tax profit increase to £7.8m from £2.6m a year ago on turnover was up 168% to £16.4m. The dividend rose 33%.

Chief operating officer Andrew Dark also reduced his holding, selling 10,000 shares also at 247p.

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Top Director Sells

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Director name: Mr Robert H Dickinson
Amount sold: 22,000 @ 2,345.45p
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Director name: Mr David Bailey
Amount sold: 100,000 @ 247.00p
Value: £247,000

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Director name: Mr David Ridley
Amount sold: 9,500 @ 2,055.00p
Value: £195,225

Hays (HAS)
Director name: Mr Denis R Waxman
Amount sold: 83,871 @ 160.35p
Value: £134,487

Bankers Investment Trust (BNKR)
Director name: Mr R R J Burns
Amount sold: 15,000 @ 427.50p
Value: £64,125

Greatfleet (GFG)
Director name: Mr Chris French
Amount sold: 178,571 @ 14.00p
Value: £25,000