Directors at Minds + Machines Group (MMX:AIM) and Zegona Communications (ZEG:AIM) have both used recent share price strength to offload shares.

Earlier this week, non-executive chairman Guy Elliott and non-executive director Henry Turcan sold shares in Minds + Machines with a combined total value of over £10 million.

On 11 October, Turcan sold 94,773,245 shares at a price of 10p while Elliott sold 17,067,112 shares at the same price. The two deals netted the non-execs a combined £10,736,675.

Minds + Machines is the owner and operator of a world class portfolio of top level domain assets. A top level domain or TLD is the group of letters that follow the final dot of any company name. The share sale coincides with the group’s decision to sell its registry business to GoDaddy for a figure of $120 million.

Meanwhile, just under a week ago Zegona chief executive Eamon O'Hare and executive director Robert Samuleson offloaded shares with a combined value of over £4 million.

Last Friday, O’Hare sold 1,990,997 shares at a price of 154p while Samuelson sold 645,478 shares at the same price, realising a combined total of £4,046,989.

Zegona was established in 2015 with the objective of investing in European telecoms, media and technology assets and improving their performance to deliver attractive shareholder returns.

The shares have rallied 36% over the last six months from a low of 95p to their current price of 148p as the group cashed in its stake in Spanish telecom operator Eusaktel.

On 28 March, Spain's fourth largest operator MásMóvil launched a tender offer to acquire 100% of Euskaltel for €11.17 per share in cash. On 5 August the tender offer was declared unconditional with a 97.67% acceptance rate and Zegona successfully tendered all of its shares, netting proceeds of €421.3 million.






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Issue Date: 14 Oct 2021