Fidessa directors offload shares

Financial software provider Fidessa's chief executive and chairman have sold shares less than one week before they go ex-dividend.

Fidessa announced a 40p a share special dividend when it published its 2009 figures at the beginning of last week. This is in addition to a 20p a share final dividend paid at the same time. The ex-dividend date is 3 March.

Chief executive Chris Aspinwall sold 250,000 shares earlier today at 1385p a share. Finance director John Hamer sold 100,000 shares at the same price.

Aspinwall raised £3.46m and still owns 1.36% of Fidessa and Hamer raised £1.385m and retains 0.71% of the company.

Last October, Aspinwall raised £1.95m from a share disposal and Hamer £975,000. The sales were at 1300p a share.

This means that Aspinwall has raised more than £5.4m from sales in this tax year and Hamer has raised £2.36m.

Aspinwall has been with Fidessa since 1986 and became chief executive in 2001, while Hamer became chairman in the same year having started with the company in 1983. Hamer was the previous chief executive.

The 2009 results were better than forecast but the growth rate is expected to fall as the number of customers declines due to consolidation.

Revenues improved 26% to £238.5m in 2009, although that is flattered by foreign exchange movements. Underlying profit rose by nearly one-third to £31m. Profits are expected to approach £40m in 2010.

Top Director Buys

Rank Group (RNK)
Director name: Mr Ian Burke
Amount purchased: 100,000 @ 101.80p
Value: £101,800

Redrow (RDW)
Director name: MS Barbara Richmond
Amount purchased: 60,512 @ 140.30p
Value: £84,898

Anglo Pacific (APF)
Director name: Mr Chris Orchard
Amount purchased: 5,000 @ 247.50p
Value: £12,375


Top Director Sells

Fidessa (FDSA)
Director name: Mr Chris Aspinwall
Amount sold: 250,000 @ 1,385.00p
Value: £3,462,500

Fidessa (FDSA)
Director name: Mr John Hamer
Amount sold: 100,000 @ 1,385.00p
Value: £1,385,000

Spectris (SXS)
Director name: Mr Roger Stephens
Amount sold: 59,511 @ 786.02p
Value: £467,768

GlaxoSmithKline (GSK)
Director name: Dr Moncef Slaoui
Amount sold: 22,524 @ 1,214.27p
Value: £273,500

GlaxoSmithKline (GSK)
Director name: Mr Julian Heslop
Amount sold: 17,109 @ 1,208.00p
Value: £206,677

GlaxoSmithKline (GSK)
Director name: Mr Andrew P Witty
Amount sold: 13,851 @ 1,208.00p
Value: £167,320

Anglo Pacific (APF)
Director name: Mr Anthony H Yadgaroff
Amount sold: 24,069 @ 247.00p
Value: £59,450

John Lewis of Hungerford (JLH)
Director name: Mr John Lewis
Amount sold: 2,100,000 @ 1.00p
Value: £21,000

Mitchells & Butlers (MAB)
Director name: Mr Adam Fowle
Amount sold: 6,163 @ 284.80p
Value: £17,552