Feeds

InterX directors cash in £75m worth of shares

While upping ante for share placing

  • alert
  • submit to reddit

New hybrid storage solutions

Certain directors and former directors of InterX are selling more than 2.4 million shares in the company. This will gross a useful £75 million or so, based on yesterday's closing price of 3100p. Aside from the enormous good fortune of the sellers, there doesn't appear to be too much to read into this: the six main executive InterX shareholders will retain 47 per cent of the business, following the sale. Armed with hugely rated paper, InterX is set for a buying spree for more new media technology and content properties. This means the company will be in effect a permanently closed period (the time when directors are not allowed to comment on company performance, or sell shares). So this sale looks like the last chance the main shareholders will have for sometime to cash in some of their enormous paper assets. The sale is timed to coincide with a new share placing in which Inter-X is to raise £50 million, £20 million more than it originally said it would. The company says it has identified an another high-value sector to extend its IT Network product comparison model. Presumably, this is where the extra cash will go. We guess pharmaceuticals is the target -- it's a business with a similar channel distribution model as IT, loads of products to wade through, and more importantly big, rich vendors to tap for advertising, database marketing and sponsorship money. ®

The next step in data security

More from The Register

next story
Phones 4u slips into administration after EE cuts ties with Brit mobe retailer
More than 5,500 jobs could be axed if rescue mission fails
JINGS! Microsoft Bing called Scots indyref RIGHT!
Redmond sporran metrics get one in the ten ring
Driving with an Apple Watch could land you with a £100 FINE
Bad news for tech-addicted fanbois behind the wheel
Murdoch to Europe: Inflict MORE PAIN on Google, please
'Platform for piracy' must be punished, or it'll kill us in FIVE YEARS
Phones 4u website DIES as wounded mobe retailer struggles to stay above water
Founder blames 'ruthless network partners' for implosion
Found inside ISIS terror chap's laptop: CELINE DION tunes
REPORT: Stash of terrorist material found in Syria Dell box
Sony says year's losses will be FOUR TIMES DEEPER than thought
Losses of more than $2 BILLION loom over troubled Japanese corp
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
WIN a very cool portable ZX Spectrum
Win a one-off portable Spectrum built by legendary hardware hacker Ben Heck
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.
Protecting users from Firesheep and other Sidejacking attacks with SSL
Discussing the vulnerabilities inherent in Wi-Fi networks, and how using TLS/SSL for your entire site will assure security.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.