ARM bosses net fortune in share sale

 
Steve Dinneen
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ARM Holdings president Tudor Brown has sold shares worth £600,000, cashing in on the technology firm’s sky-high valuation.

He offloaded 100,000 shares at 600p each. The transaction marks the second windfall in a month for the firm’s former chief operating officer, after he recently trousered £1m for cashing in 182,000 shares at 550p each.

He now owns in the region of 150,000 shares in the Cambridge-based chip designer.

Earlier this month fellow director Mike Inglis also sold shares, netting him £800,000.

The management sell-offs failed to deter investors, with ARM stock rising a further two per cent yesterday to hit 619p, with the firm proving resilient to the recent market turmoil.

It has surged more than 50 per cent in the last 12 months, boosted by its relationship with Apple.

An ARM spokesman said: “we cannot provide comment on any personal share dealings carried out by the executive board.”