Heart of Midlothian Football Club chair Ann Budge has sold 654,621 of her shares Linlithgow-based telecoms testing and measurement firm Calnex Solutions plc at £1.25 per share to raise £818,276.

Budge is a non-executive director of Calnex.

In a stock exchange statement on Tuesday, the company said: “Calnex Solutions plc, an established provided of test and measurement solutions for the global telecommunications sector, was informed on 21 January 2022 that Ann Budge, non-executive director of the company, has sold a 654,621 ordinary shares in the company at a price of 125 pence per share.

“Following this transaction, Ann Budge is interested in a total of 2,000,000 ordinary shares, representing 2.3 per cent. of the issued share capital of the company.”

Those two million shares are worth about £2.4 million at the current stock price.

Calnex went public at 48p per share in October 2020 and rose as high as £1.48 in November 2021.

On Tuesday, Calnex shares were trading around £1.22 to give the firm a current stock market value of roughly £106 million.

Customers of Calnex include BT, China Mobile, NTT, Ericsson, Nokia, Intel, Qualcomm, IBM and Facebook.