ABC director sell downs

ABC Learning Centre's Australian chief executive Martin Kemp has further sold down his minnow interest in the company.

Kemp yesterday sold 23,659 shares at $1.32.

Following the sale, Kemp now holds just 1,600 shares in ABC.

Last month, ABC told the Australian Stock Exchange that it was not aware of margin loan arrangements its directors Eddy and Le Neve Groves held.

The margin calls saw lenders force Groves and Le Neve Groves and two other directors, including Kemp to sell off around $52 million in stock in February.

And on March 6 margin calls forced Kemp to sell off another 2.7 million shares, leaving him with 23,659 ordinary shares.

ABC shares closed 3.5 cents higher at $1.62.

Australian Property Journal