Alan Walsh, CEO of IPL Plastics (formerly One51), has just sold 38% of his shares in the company at CAD$7.76 (€5.29) per share. The total value of shares traded amounted to CAD$642,000 (€438,000). It is the biggest sale by an executive in the company this year.

It is interesting that the CEO, who has led the company since 2011, would sell at this price given that it equates to just over €1 per old One51 share. Many investors will remember that these shares reached highs of €2.40 on the grey market less than two years ago.

Not alone in selling

Walsh is not the only executive selling shares at the company. There was another tranche of shares sold recently at CAD$7.70.

It seems that in the last three months there have been more executives selling than executives buying at IPL Plastics. This may raise some concerns for shareholders who have been there over the long term. Irish agri co-ops are understood to own around 25% of the stock.