Shares in Sanne Group (SNN) have done well since it listed in April 2015, climbing from 220p to a peak of 648p in April this year. Rising financial regulation across the globe has driven this performance, with the group acquiring businesses in the US, South Africa and the Netherlands. It's hardly surprising, then, that three members of the management team took the opportunity to bank some of this gain last month.
Chief executive Dean Godwin, alongside chief financial officer Spencer Daley and senior managing director Philip Godley, all sold large chunks in April. This is the first time each of them has sold any shares and, no doubt to calm speculation, each agreed to extend their lock-in periods to 72 months after admission on their remaining stakes while they are directors of the company.