Thanks a lot, Mike!

The Blinkx share price was rising quite nicely today until this was announced:

"Blinkx plc announces that on 20 July 2010 Dr Michael R Lynch, a Non-Executive Director, notified the Company that he sold 750,000 Blinkx plc Ordinary Shares ('Blinkx Shares') at a price of £0.65 per share. The transaction represented approximately 3.1% of Dr Lynch's holding, and following the transaction Dr Lynch's is interested in 23,252,712 Blinkx Shares, representing 7.5% of the Company's issued share capital.

On 20 July 2010 Suranga Chandratillake, Blinkx's Chief Executive Officer notified the Company that, on 19 July 2010, he exercised options over 383,257 Blinkx Shares at an exercise price of £0.01 per share, and subsequently sold those Blinkx Shares at a price of £0.65 per share. Following this transaction, Mr Chandratillake's total number of options in the Company under the blinkx US Share Option Plan is 4,109,314."

OK, so he only sold 3% of his holding - but given that he can't need the money why bother at all? Clearly because he thinks the price is looking toppy.

Or at least it was, before it started sinking back on the above news.

Thanks a lot, Mike!

And as for Chandratillake - disgraceful, if you ask me. He's never bought a single share in the open market, as far as I'm aware, and yet as soon as the price rises (a rise patient shareholders have been waiting for for nearly three years) he exercises some options (priced at 1p!) and makes a packet...