LONDON (Alliance News) - Imagination Technologies Group PLC said Chief Executive Hossein Yassaie purchased 20,000 shares on Thursday at a price of 121.75 pence per share.
Following the transaction, Yassaie holds a total of 838,543 shares in Imagination Technologies, which equates roughly to a 0.3% stake in the company according to an Alliance News calculation.
The purchase by Yassaie comes only two days after the company warned its operating profit before items for the full year will be lower than its previous expectations after reporting a wider pretax loss and a fall in revenue during the first half.
The software and intellectual property licensing company said its pretax loss widened in the first half ended October 31 to GBP22.7 million from only a GBP10.7 million loss a year earlier as revenue declined to GBP71.1 million from GBP82.2 million.
Imagination Technologies shares were up 2.2% to 126.25 pence per share on Thursday afternoon.
By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance
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