Fingerprint Cards‘ Chairman of the Board, Urban Fagerstedt, has sold 2.92 percent of the total Sunfloro AB shares to Johan Carlström, a Sunfloro AB board member, and in so doing he has reduced his ownership in the company to under 10 percent. Because of Sunfloro’s class-A share holdings in FPC, that means Fagerstedt can no longer technically be considered a major shareholder in FPC. Nevertheless, as FPC’s Chairman of the Board, Fagerstedt remains a registered insider.
The move comes in the wake of FPC’s issuing of its Q3 fiscal results, which were very positive. The company has enjoyed strong growth on the back of the booming smartphone fingerprint sensor market, and raised over $111.6 million USD in the quarter, leading to a net operating profit of $34.99 million USD.
In a press release announcing the share transfer, FPC did not explain its underlying rationale.
Johan Carlström was FPC’s CEO from the spring of 2009 until May of this year.