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Asos chairman cashes in shares for £14 million Monday, 19th September 2011
Asos chairman Waheed Ali has cashed in almost half of his £30 million stake in the fashion e-tailer.
Alli used an option to buy 750,000 Asos shares at 12.67p last week before immediately selling them at £19 per share – pocketing a profit of £14.15 million.
The transaction took almost 5 per cent off the Asos market value on Friday.
Alli still owns 830,000 Asos shares, worth £15.7 million.
Sales at Asos in the year to 31 March increased by 52 per cent to £339.7 million, but pre-tax profit fell 23 per cent to £15.7 million. International revenues more than doubled to £140 million.