Shares in Blinkx have been a strong performer recently after a series of deals for the video search company, so cue director share sales.
Mike Lynch - boss of Autonomy whence Blinkx sprung and still a non-executive director of the spin-off - yesterday sold 750,000 shares at 65p each to raise £487,500. This leaves him with a 7.5% holding.
At the same time Blinkx chief executive Suranga Chandratillake exercised options over 383,257 shares at 1p each and sold them for a total of nearly £250,000.
The news sent Blinkx shares 4.75p lower to 58.25p. They have climbed from 13p in the middle of May to 33.5p towards the start of this month. The rise since then follows a series of announcements about various partnerships, including a deal to supply an app to Samsung Electronics.
Meanwhile Autonomy - hit yesterday by news that Panmure Gordon was moving its recommendation from buy to hold ahead of results tomorrow - has recovered 11p to £18.26.
from The Guardian
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