Psion chairman nets pounds 18.5m

DAVID POTTER, chairman of the Psion personal organiser group, netted about pounds 18.5m yesterday when he sold four million shares in the company. The sale reduces the stake of Mr Potter and his family from 24 per cent to 19.6 per cent.

Psion said Mr Potter was reducing his holding in the light of the company's search for a chief executive to work alongside him. He intends to remain Psion's largest shareholder and to retain the balance of his holding for the foreseeable future, the company said. The shares fell from 502.5p to 471p.