LONDON -- Opticom ASA, the Norwegian company that has been researching plastic multi-layer memory technology with contract support from Intel Corp., has been the subject of a sell-off by the Fussell Foundation, where Thomas Fussell, chairman of Opticom, is a trustee, according to reports from Opticom.
Earlier in the year Opticom reported that it had hit some problems with developing its plastic memory technology (see September 10 story).
The Fussell Foundation, has now sold all of the 100,000 shares that it held in the plastic memory researcher at the start of October 9.
On October 9, the Fussell Foundation sold 25,000 shares at a market price of NOK 86.752 per share (about US$12.35), Opticom reported. On October 20, the foundation sold 20,000 shares at a slightly lower price of NOK 79.60 per share (about US$11.33) and on October 23, the foundation sold a further 25,000 shares at the price per share of NOK 72.80 (about US$10.37), Opticom said. And on Monday (October 27) the company completed its sell-off disposing of the last 30,000 shares at a price of NOK 73.91 (about US$10.51)
The aggregate value of the sales is nearly US$1.1 million.
After today's transaction the Fussell Foundation held no shares in Opticom ASA, the company reported.