Ajay Kalsi, chief executive of Indus Gas, has sold £60.486m worth of shares in the India-focused oil and gas company.

Kalsi has sold 17.79m shares at a price of £3.40 per share through Arden Partners, NOMAD and broker to the company.

The shares have been placed with a range of existing and new institutional shareholders with good demand in the market, Indus said.

Mr and Mrs Kalsi, through Gynia Holdings Limited, still own about 79.7% of the issued share capital of the company.

Last month, Indus said it remains in a strong financial position, is on schedule to move into substantial production and revenues in April 2010 and has a strong forward operational programme in place.


Top Director Buys

Symphony International Holdings (SIHL)
Director name: Mr Anil Thadani
Amount purchased: 150,000 @ $0.45
Value: $67,500

FBD Holdings (FBH)
Director name: Mr Andrew Langford
Amount purchased: 3,250 @ € 7.50
Value: € 24,375

Symphony International Holdings (SIHL)
Director name: Mr Anil Thadani
Amount purchased: 28,611 @ $0.45
Value: $12,875


Top Director Sells

Indus Gas (INDI)
Director name: Mr Ajay Kalsi
Amount sold: 17,790,000 @ 340.00p
Value: £60,486,000

ARM Holdings (ARM)
Director name: Mr Tim Score
Amount sold: 100,000 @ 130.90p
Value: £130,900

Admiral Group (ADM)
Director name: Mr Kevin Chidwick
Amount sold: 9,240 @ 1,061.00p
Value: £98,036

Imagination Technologies (IMG)
Director name: Dr Hossein Yassaie
Amount sold: 58,088 @ 155.00p
Value: £90,036

ARM Holdings (ARM)
Director name: Mr Warren East
Amount sold: 60,000 @ 131.00p
Value: £78,600

Imagination Technologies (IMG)
Director name: Dr Hossein Yassaie
Amount sold: 36,239 @ 155.00p
Value: £56,170

Imagination Technologies (IMG)
Director name: Mr Trevor Selby
Amount sold: 31,278 @ 155.00p
Value: £48,481

Imagination Technologies (IMG)
Director name: Mr Trevor Selby
Amount sold: 17,975 @ 155.00p
Value: £27,861

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Symphony International Holdings Ltd. (SIHL) share price
Indus Gas Ltd. (INDI) share price