LONDON (Thomson Financial) - UK-based life sciences products and services
group Tepnel Life Sciences PLC said it was informed only last week that
non-executive director Don Marvin has disposed of 500,000 shares in the company
since Jan 2006.
In a statement, Tepnel said on March 13, it was notified Marvin's holding in
the company was now 18,000 ordinary shares representing approximately 0.01 pct
of the company's share capital.
The company said in four transactions between Jan 30, 2006 and March 31 the
following year, Marvin disposed of 500,000 shares at prices of between 0.12 and
0.15 usd.
Tepnel's newly appointed finance director Michael Slater told Thomson
Financial News the company is investigating the transactions, adding it takes
corporate governance "very seriously". Slater said the company wouldn't comment
further until the investigation is complete.
Announcing its full year results yesterday, Tepnel reported a swing to
pretax profit from continuing operations of 1.27 mln stg against a loss of
15,000 stg a year ago.
tf.TFN-Europe_newsdesk@thomson.com
jag/vlb
COPYRIGHT
Copyright Thomson Financial News Limited 2008. All rights reserved.
The copying, republication or redistribution of Thomson Financial News Content,
including by framing or similar means, is expressly prohibited without the prior
written consent of Thomson Financial News.
|