Financier Mr Dermot Desmond has realised more than £1 million sterling (€1.48 million) after selling 155,000 Zergo Holdings shares. The price at which Mr Desmond sold the shares has not been disclosed but they were trading around 700p sterling the day of the sale.

Mr Desmond received £6.7 million in cash and almost 3.5 million Zergo shares as part of the deal which saw Zergo take over Baltimore Technologies late last year for around £40 million. Mr Desmond owned around 60 per cent of Baltimore and was the major beneficiary of the sale.

After this week's sale of 155,000 shares, Mr Desmond still owns more than 3.3 million shares worth almost £24 million sterling.