Estonia: LHV board members and insiders sell bank shares for large sums
NordenBladet – The promised trading period has arrived for LHV managers and insiders. During the week, three members of LHV Group’s management board have sold the bank’s shares (LHV1T.TL), according to the register of persons related to stock exchange issuers. Board members Indrek Nuumele, Andres Kitter and Martti Singi have sold a large amount of shares.
Behind the big puts is the desire to free up cash for options.
Erki Kilu, who currently heads the UK branch of LHV, sold LHV shares for the largest sums, Ă„ripäev reports. Kilu sold 400,000 shares at an average price of 3.77 euros per share, or a little more than 1.5 million euros in total. Kilu recognized that there were two things behind the large sales amount, firstly, to free up money for options and secondly, the CEO of LHV’s UK branch moved to London this year and needed free money to set up there.
On Friday, LHV announced to the stock exchange the size of the dividend, which had decreased compared to the previous year. Last year, 0.21 euros were paid out, this year it is planned to pay 0.19 euros per share.
Opening photo: LHV Bank, Tallinn (NordenBladet)
Source: NordenBladet.ee
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