Misys sales thrashed

Major shareholder strengthens funding

Misys shares took a beating yesterday, the same day the company learned that one of its major shareholders had strengthened his funding in the company. The share price fell 25.5p to 383p, with analysts saying the illiquidity of Misys stocks makes it vulnerable to market movements. Mike O’Leary, Misys business development director, increased his number of shares in the company by 4,335 1p ordinary shares to 889,561 yesterday. This makes O’Leary the fourth largest shareholder in the software and services group. George O’Connor, research analyst at Granville, said: “Many IT stocks have been subject to little trading but erratic price changes in the third quarter. Therefore, when you do get any movement at all it makes a dramatic difference like the one seen here.” The increased share move was the result of savings’ related options reaching maturity on 1 October. ®

Sponsored: How to determine if cloud backup is right for your servers