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.

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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.