London Capital Execs Sell Shares

London Capital directors Frank Chapman, Simon Denham and Rachel Woodford have sold off some of their shares in the company following the announcement of a white label spread-betting deal with online gambling giant Betfair (see previous InfoPowa report). In an apparent response to institutional demand, CEO Frank Chapman sold 740 000 shares at 380p, netting a total of GBP 2.8 million. Simon Denham, the COO and marketing and sales director Rachel Woodford followed suit, each disposing of 500 000 shares at the same price for a total return of GBP 1.9 million apiece. The introduction of the new MiFID rules for financial services companies means that restrictions for spread-betting firms on the opening of accounts have become stricter, according to industry observers. Source: Online Casino News (http://www.casinomeister.com/)

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