Blur slumps after boss sells shares

Online services exchange Blur Group saw its shares plummet seven per cent yesterday as chief executive Philip Letts announced he would sell 900,000 shares in the company.

Richard Bourne-Arton, a non-executive director of Blur Group, is also planning to sell 95,000 shares. The group said the main purpose of the transactions was to increase institutional liquidity, while also allowing Letts to rebalance his portfolio and utilise entrepreneur’s relief. Blur’s share price closed at 429p yesterday having opened at 461.5p.