Hearts’ Ann Budge sells £818,000 of Calnex shares

Ann Budge

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.

About the Author

Mark McSherry
Dalriada Media LLC sites are edited by veteran news journalist Mark McSherry, a former staff editor and reporter with Reuters, Bloomberg and major newspapers including the South China Morning Post, London's Sunday Times and The Scotsman. McSherry's journalism has also appeared in The Washington Post, The Guardian, The Independent, The New York Times, London's Evening Standard and Forbes. McSherry is also a professor of journalism and communication arts in universities and colleges in New York City. Scottish-born McSherry has an MBA from the University of Edinburgh and a Certificate in Global Affairs from New York University.