Geoffrey Guy, executive chairman of GW Pharmaceuticals, has sold almost £600,000 of shares in the cannabis-based medicine firm to co-founder Brian Whittle.

The purchase of 750,000 shares from Guy at 79p each cost Whittle, who retired as a director at GW last year, £592,500.

Whittle and Guy set up the company in 1998 and listed it on the London Stock Exchange in June 2001.

Guy also gifted, for nil consideration, a further 782,111 shares to Whittle and members of Whittle's family.

Despite transferring over 1.5m shares, or 1.3% of the business, Guy still owns a 15.2% stake.

GW posted a maiden annual profit last month. It made £4m on revenue up to £16.1m from £5.7m thanks to increased sales and milestone revenue from Almirall and Sativax


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