Amaya’s ex-CEO David Baazov sells shares

David Baazov says he has sold seven million common shares in Amaya, the Montreal-based gaming company he founded and once led as CEO before he encountered legal troubles.

Baazov sold the stock on the S&P/TSX composite index for US$ 14 per share, totalling US$ 99 million.

The disposition leaves Baazov with roughly 17.6 million common shares, representing 12.1 % of the company’s issued and outstanding common stock.

Baazov pleaded not guilty last year to securities-related charges following an investigation into allegations of insider trading.

He had proposed to buy Amaya, but walked away from the bid in December.

Source: GMB / Theglobeandmail.com