Northern Ireland

First Derivatives director Michael O'Neill in £2m shares sale

A director of First Derivatives, the Newry-based technology firm, has made almost £2m by selling a large part of his shareholding in the company.

Michael O'Neill, a non-executive director and one of the founder shareholders, sold 330,000 shares at 535p each, making £1,765,500.

Mr O'Neill has been slowly reducing his shareholding: in 2010 and 2011 he sold shares valued at £1,125,000.

He still holds 310,000 shares, just under 2% of the firm's share capital.

Mr O'Neill is a former chief operating officer of the firm and now has a range of business interests including an online betting business, Casino Broadcast Network.

Last week, First Derivatives issued half-yearly results which showed turnover of £27.6m and a £4.1m operating profit.

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