Scales shares sink 6.2% as managing director Borland trims stake

Mon, 28 May 2018

By Paul McBeth May 28 (BusinessDesk) - Scales Corp shares dropped 6.2 percent as managing director Andy Borland halved his stake in the NZX-listed agribusiness with the shares trading near a record high. The stock fell 30 cents to $4.55, having hit a record $5 earlier this month. The move comes after a notice to the stock exchange today showed Borland, via a family trust, sold 750,000 shares for $3.5 million, or $4.73 apiece, on April 23, when the stock closed at $4.51. Borland still owns 750,000 shares in the family trust and anothe...

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