This is the second instalment of shares disposed in this way. Pursuant to the incentive scheme, an initial total of 50,000 shares were sold to the CEO in December 2006.

Lundmark had previously admitted to Hoist that such an arrangement is a risk to his personal funds, “if our stock does not perform well,” he said.

An incentive scheme was implemented by disposing of the company’s own shares held by the company on the basis of the authorisation granted to the board of directors by the general meeting of shareholders on March 8 2006.

Lundmark added: “This is the whole purpose of the arrangement. It shows that I believe in the company and the potential of the share. It has been discussed for some time so it was not a surprise.”

“I think that shared ownership is good for any company since it aligns the management and owners’ interests,” he said.