Paracon directors offload more shares

By Kimberly Guest for Paracon
Johannesburg, 23 May 2007

Three Paracon directors have sold shares to CFO Mireille Levenstein in order to facilitate an equity interest in the company.

Yesterday, the company announced CEO Mark Jurgens, IT Resourcing MD Graham Bentley and group marketing director Ronald Wasley had together sold a million shares, at a price of R2 per share, to Levenstein.

Earlier this month, the same three directors sold 12 million shares, at a price of R2.10 per share, to Dimension Data.

In a notice published on the Stock Exchange News Service, Paracon explained the directors made the shares available to Levenstein so as to provide her with an equity interest in the company.

Levenstein was appointed to the Paracon board in 1999 and is responsible for the overall group finance, corporate finance, investor relations and group acquisitions.

Paracon's share price opened at R2.80 yesterday morning, but lost 4%, to close at R2.70 per share.