Tracsis tech officer ditches shares

6th Jun 2012 15:54

Raymond Kwan, the Chief Technical Officer of Tracsis ditched 750,000 shares on the same day the firm announced that it considers it likely that the company will exceed current market expectations for the year ended July 31st 2012. Tracsis is a developer, supplier and aggregator of resource optimisation, data capture and reporting technologies to the transport industries.Kwan sold the shares for 75p each for a total of £562,500 on June 1st, reducing his stake in the firm to 1,899,850 shares. His wife holds 226,000 shares, which together with Kwan's stake totals 8.6% of the issued share capital of the firm. On the same day as the trading update, the company announced that profits would be ahead of expectations for the full-year period. According to market consensus, revenue for the full year is currently expected to be £6.84m, pre-tax profit at £1.90m, earnings per share at 6.10p, with a dividend of 0.50p. Tracsis shares have risen 72% in the past year, compared with the support services industry as a whole, which is down 1.9%. Top Director BuysAFI Development (AFRB) Director name: Mr Lev LevievAmount purchased: 9,053,307 @ $0.50 Value: $4,526,654F&C Asset Management (FCAM) Director name: Mr Edward BramsonAmount purchased: 162,000 @ 71.71p Value: £116,170Hardy Oil & Gas (HDY) Director name: Mr Alasdair LockeAmount purchased: 75,000 @ 125.00p Value: £93,750ITE Group (ITE) Director name: Mr Marco SodiAmount purchased: 25,000 @ 184.00p Value: £46,000IFG Group (IFP) Director name: Mr Colm BarringtonAmount purchased: 32,420 @ 105.12p Value: £34,080Mecom Group (MEC) Director name: Mr Michael HutchinsonAmount purchased: 38,000 @ 78.00p Value: £29,640Ocean Wilsons Holdings Ltd. (OCN) Director name: Mr Chris Townsend Amount purchased: 2,500 @ 1,050.00p Value: £26,250Renold (RNO) Director name: Mr John AllkinsAmount purchased: 75,000 @ 33.50p Value: £25,125Thomas Cook Group (TCG) Director name: Mr Roger BurnellAmount purchased: 60,000 @ 18.16p Value: £10,896Top Director SellsTracsis (TRCS) Director name: Dr. Raymond KwanAmount sold: 750,000 @ 75.00p Value: £562,500Canaccord Financial Inc. (CF.) Director name: Mr Peter MacLachlan BrownAmount sold: 43,054 @ 344.40p Value: £148,278Electrocomponents (ECM) Director name: Mr Ian MasonAmount sold: 42,571 @ 196.21p Value: £83,529Intermediate Capital Group (ICP) Director name: Mr Philip KellerAmount sold: 19,664 @ 241.05p Value: £47,400Electrocomponents (ECM) Director name: Mr Simon BoddieAmount sold: 21,286 @ 196.21p Value: £41,765