Three blinkx execs cut stakes after strong share-price rise

13th Jun 2013 16:09

blinkx, the AIM-listed internet video platform, saw three of its directors each offload a large chunk of shares in the firm this week, as they sought to take advantage of the stock's impressive performance so far this year.The company, which powers video search engines on sites like Ask.com and AOL, unveiled record annual results last month with revenues rising 73% to $198m and adjusted pre-tax profits jump 129% to £25m.Non-Executive Director Michael Lynch, the former Chief Executive Officer (CEO) and founder of tech giant Autonomy, sold one million ordinary shares at 113.32p for £1.13m, cutting his stake to just under 21m shares, equal to 5.7% of the company. On the same day, Chief Strategy Officer Suranga Chandratillake exercised 1.6m options and sold them for 114.40p each, pocketing himself a tidy £1.83m. His remaining options total just over 3.2m.Meanwhile, blinkx CEO Subhransu "Brian" Mukherjee exercised a total of 300,000 options granted under the company's share option plan and then sold them for 113.42p each, earning himself a total of £340,260. Following the sale, Mukherjee has been left with nearly 2.3m share options.Ahead of these transactions this week, the stock had surged by over 80% since the start of 2013.Top Director BuysBritish American Tobacco (BATS) Director name: Mr Ben StevensAmount purchased: 383 @ 3,530.50p Value: £13,522Top Director SellsBlinkx (BLNX) Director name: Mr Suranga Chandratillake Amount sold: 1,600,000 @ 114.40p Value: £1,830,400Blinkx (BLNX) Director name: Dr Michael LynchAmount sold: 1,000,000 @ 113.32p Value: £1,133,200Blinkx (BLNX) Director name: Mr Subhransu (Brian) Mukherjee Amount sold: 300,000 @ 113.42p Value: £340,260Planet Payment Inc. (PPT) Director name: Mr Philip D BeckAmount sold: 59,753 @ 181.78p Value: £108,619