Linlithgow’s Calnex says CEO sells £1.59m shares

Calnex CEO Tommy Cook

Linlithgow-based telecoms testing and measurement firm Calnex Solutions plc said on Monday its CEO Tommy Cook sold 1 million ordinary shares in the company at around £1.59 per share.

Following the transaction, Cook owns 17.377 million ordinary shares in Calnex worth about £28 million at today’s share price, representing 19.9% of the issued share capital of the firm.

Calnex went public at 48p per share in October 2020 and its shares have since soared to around £1.62 to give the firm a current stock market value of roughly £142 million.

On May 24, Calnex Solutions reported revenue growth of 23% to £22 million in the year to March 31, 2022, and growth in adjusted profit before tax of 18% to £6 million.

Calnex’s customers include BT, China Mobile, NTT, Ericsson, Nokia, Intel, Qualcomm, IBM and Meta.