An insider management group in Danish engineering and cement group FLS Industries sold 59,314 shares worth a total of 5.9 mln Danish crowns ($1.0m), it was reported on January 6, 2005. After the sale, this same group in FLS Industries reduced its stake in the company by a total of 365,000 shares, worth a total of some 37 mln crowns ($6.6 mln/5.0 mln euro) between December 20, 2004 and January 6, 2005. Over 60 pct of the sold shares are B shares. Insider groups usually include management staff and board of directors’ members with access to information about share prices. Therefore the insider groups have to follow special rules of share trade.
Additionally the insiders group in Danish engineering and building materials group Potagua A/S, which is the major shareholder in FLS Industries, sold some 141,000 shares at a total value of 16.9 mln crowns ($3.0m) in Potagua between December 20, 2004 and January 6, 2005.