LONDON (SHARECAST) - Black cab maker Manganese Bronze dropped back today as finance director Mark Fryer and chief operating officer Peter Shillcock both sold large lines of stock.

Chief number cruncher Fryer pocketed over £356,000 from the sale of 52,400 shares at 680p, taking his holding down to near 40,000.

Shillcock lowered his remaining stake to just under 19,000 shares after offloading more than 47,000 shares in three tranches between 680p and 710p to bag over £321,000.

Part of the proceeds will be used to satisfy the tax due on share options exercised in November, said the company.

Last month the group said trading in the first quarter was running ahead of the same period last year as it sold more cabs in the UK.

“Looking ahead, taxi sales for the year as a whole will depend on market acceptance of the TX 4 and additional demand generated by the introduction of new emissions regulations in London,” it said.
 
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