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Pro Medicus Ltd (ASX:PME) is expected to be a big mover on the market today, after its two cofounders Dr Sam Hupert and Anthony Hall sold one million shares each during the current trading window.
The executives said the sale – which represents less than 4% of their respective shareholdings – had involved approaches from various institutions, and confirmed they would not be selling any more for the foreseeable future.
The price used for conduct of the sale was $256.73 – Pro Medicus’ last closing price.
Dr Hupert and Mr Hall continue to be the medical imaging software company’s largest shareholders, holding more than 24 million shares each. Their combined stake in Pro Medicus remains at 46% after the sale.
Board chairman Peter Kempen AM said “this sale of shares by the founders is part of a progressive sell down, which provides prospective shareholders with the opportunity to invest in the company and ultimately will increase the “free float”.”
Pro Medicus has been trading at $256.73 this morning.
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