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DJI Holdings terminates CFO contract over share sale breach

Chinese lottery solutions provider DJI Holdings has terminated CFO Rodney Davis’ contract for failing to seek appropriate permission for the share disposals he made.

Davis, who was due to leave the company at the end of October, is reported to have sold 250,000 shares between September 30 and October 20 without notifying DJI, a director requisite required by London AIM rules.

“DJI has adopted detailed policies for Directors’ share dealings and compliance with the AIM Rules before the IPO in July 2014 and all directors, including Mr Davis, have been and remain aware of their responsibilities in this regard,” DJI said in a statement. 

“As a result he has been issued with a notice of summary termination of his contract and will also be required to resign as a director of all DJI group companies with immediate effect.”

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